After yesterday's FED Fun (unless you were on the other side of it) a lot of currency pairs are showing similar movement. A complete retracement from yesterday's spikes back into previous structure. We've been rolling through charts all morning in both the live trading room and the Warroom meeting trying to fish out which opportunities are worth taking and which are better off staying on the sidelines for. EURUSD is one that I like.
I just fired off a long on this pair at 1.0665's and Jason is waiting a little bit lower to potentially get involved. Those are more intraday/swing trading opportunities since the ATR is rather large today, but from a day traders perspective, we also have 2 potential short opportunities in the form of a bearish Gartley and Cypher. It would be nice to see all win on different accounts. Would make for an awesome end of a nice looking week thus far.
hey akil ! i was debating whether or not to get in on EURUSD, and it did meet my rules, but i guess since the fed yesterday, i wasnt sure if to enter or not because the market was kinda funky after that. How do you decide its safe to get back in the game or better to wait on the sidlines till its back to normal? I ended up getting in a 1.0635's because the risk/reward lined up, and i had move for secondary targets as well and i decided its better to stick to my rules than to deviate.
Akil_Stokes
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I simply follow my rules, if the trading opportunity is valid I take it
daniel.garnier.10
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Ok that makes sense. What was your stop placement on the long trade you took?
thanks
daniel.garnier.10
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I put mine a few pips under the 113
Akil_Stokes
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my stop placement for structure trades are ATR based