EURUSD: Potential Longs before the Advanced Pattern Part 2

FX:EURUSD   Euro Fx/U.S. Dollar
LOT's of trades on the radar today. I'm currently long on 3 pairs and have another 5 on the radar. One of those pairs on the radar is the EURUSD             which I originally posted yesterday, looking for a retracement back into previous structure support & an opportunity to go long.

As I was responding to comments this morning (before starting my morning round of Top-Down Analysis ) as trader mentioned that they saw a potential advanced cypher formation completing in the killzone that I had on my radar and you know what....it looks like an excellent opportunity to get involved.

I mentioned above that I have about 8 potential (or current) opportunities on my radar, which is nearly my entire portfolio. This is where money management and correct position sizing come into play. It's very important that we're not overexposed in the market and do major damage to our account if the worst case scenerio occurs.

Akil Stokes
Chief Currency Analyst & Head Trading Coach
http://www.TradeEmpowered.com -The Premier Online Trading Education Company
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Trade active
Trade closed: stop reached: Stopped out last night putting me at 2 for 5 this week. Look for an update on this pair in tonight's youtube video (pending the BOE rate cut madness)
Nicely spotted Cypher Akil, thanks.
+1 Reply
Thanks Luke
+1 Reply
arif_awan lukeboland
NFP trade setup.
Yeah and is going very well :D .. what is your TP?
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I'm looking for a retest of previous structure
Dguaman Akil_Stokes
Oh ok , thank you Akil ! Nice call ... ;)
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Thanks for spotting it Akil.
Do you set your target based on the retracement from the C point to the theoretical D point (0,786 of XA leg) or to the actual one (the point where price action change direction in the killzone)?
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Akil_Stokes PRO FabianoGollo
I adjust with price action as it moves through the killzone
This will be a story about how the stop loss is hit, because previous support becomes resistance again!
Good Luck.
+1 Reply
hatzitesla MetalCruisers
how is your short position going?
I believe better than you.
I add shorts from 1.1220 and closed all shorts now with couple k in profit, I believe the profit is bigger than your earnings in 1 month.
Good luck.
hatzitesla MetalCruisers
oh my bad...i thought u were short since 1.11990:
EU | Afterglow | The Sons of Fibonacci. August
There were several updates with screenshots! I was swing shorting it.
Akil_Stokes PRO MetalCruisers
I assume this trade is done Akil?
+1 Reply
Akil_Stokes PRO MetalCruisers
No still in it, barley missed stop but I'm expecting a loss given the lower low, lower close
EU | Afterglow | Price will tell.
Akil_Stokes PRO MetalCruisers
Nice, thanks for the share
welp that 13:00 bar took me out. not a great way to finish my lunch break. hahaha
+1 Reply
Out as well
How'd that all work out for you Akil?
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I was stopped out
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