EURUSD: The Next Potential Short on Euro, Bearish 2618

FX:EURUSD   Euro / U.S. Dollar
As price action makes its way back up towards previous structure highs, we’ll reach what I like to call a “decision point” in the market. I call it that because it’s at this point where our “IF/THEN” thought process comes in today play in our decision of whether to go long or short.

Because we have yet to break structure, I won’t touch on the long option, but the short option is playing this current move as a 2618 trade. We have already entered the killzone starting at 1.1120’s and at this point I would be dialing down to your lower timeframes and looking for an entry reason.

IF this 2618 does complete and rollover, it would also be the “C” leg of a potential bullish bat pattern. You guys know how I feel about the “aggressive C” trade (BAD! BAD! BAD!) but this would be one that actually makes sense, only because you have a valid reason to enter.

I’m feeling horrible today as I’ve caught a cold from somewhere, but with A LOT on my trading radar (Syndicate members, take a look at the tradefloor this morning) I don’t want to miss what could be a day ripe with opportunity.

(If you’re unfamiliar with the 2618 trade, the free training is on our website under the “Learn to Trade” tab)

Akil Stokes
Chief Currency Analysis at Trade Empowered
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Akil, I very much appreciate your web presence on Tradingview. It really helps all of us and your wider interests. Keep up the good work!! Jaahhnoooohhhh!! LOL. :))
+1 Reply
Akil_Stokes Captain_Walker
Thanks, i love the fact that the "trading trolls" have decided to leave me alone. That's usually why i don't participate on these types of places.
+1 Reply
IvanLabrie Akil_Stokes
Trolls will be trolls Akil...trading isn't about ego or being right.
Right? :D
+2 Reply
Akil_Stokes IvanLabrie
100% correct
+3 Reply
They're only giving you a temporary break. They'll be back, I'm sure. 'People management' in trading is about not letting the trolls run you out of a good thing. One good technique is not to respond to anyone who appears to be a troll. If they're not fed, they can't flourish. ;) :)
+1 Reply
Akil_Stokes Captain_Walker
That's a great plan, I've been doing that and/or responding in a very positive manner. I think that leaves them with a bitter taste as well. I love the term "people management"
+2 Reply
Mr. Stokes, a question about 2618. Sometimes while waiting for a potential 2618 (let's say double top) to hit the 618, I notice another double top or double bottom form on the same time frame. Does one take precedence over another, should I stay away or stick with the first one? Also there might be a double top on a daily chart and another one on an hourly chart around the same time. Thank you!
+1 Reply
I'd have to see the example to give a clear answer. As far as the one on different timeframes, you should only be taking the one that occurs on your trading timeframe
Balazs Akil_Stokes
I'll try to find an example, thank you!
Balazs Akil_Stokes
Here is an example sir, potential 2618 double top waiting for 618 retrace. Then a double bottom is formed and although early in this example attached, let's assume it becomes a valid double bottom? So now which 2618 do I wait to confirm, the top or bottom? Or does the latter invalidate the first?
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