EURUSD: Been Waiting All Week & Finally Got My Reason

FX:EURUSD   Euro / U.S. Dollar
After stalking the EURUSD             this entire week, price action has finally made its way down into my kill zone and has also given me a reason to get long in the form of a bullish bat pattern that completed during the early London session.
There are so many ways to take targets on this trade and instead of laying them all out I’ll just ask you these questions. Why are you involved in the trade ( advanced pattern or trend continuation)? And (of course) What do your rules say to do?

I know you guys hate hearing that, but hey, that’s the reality of trading. Each of us are different and as I tell my clients, your trading style should match your personality making it fit you like a fine tailored suit.

BIG NEWS OUT AT 8:30 eastern! We’ve got USD: Advance GDP, Trade Balance & Unemployment. This should certainly give us some action early on in the New York session so be careful. The underlying market sentiment still looks to be very bullish the USD especially since yesterday’s (lack of hawkish tone) FOMC statement showed little movement before being shaken off my the market.

Yesterday’s USDCAD             didn’t go my way and if you’d like to read about it here’s the link to my trading blog. http://tradeempowered.com/the-next-good-trade/

Also it’s Thursday so that means my weekly video is coming out so make sure you head over to YouTube and SUBSCRIBE to my channel, that way you don’t miss it. I’ll most likely be talking about dealing with failing strategies and looking at equity curves…we’ll see. Good luck today traders and let’s ROCK the markets on this wonderful Thursday!

Akil Stokes
Chief Currency Analyst
Akil@Tradeempowered.com /@AkilStokesRTM /
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i would like to know how you decide targets for patterns
+1 Reply
Akil_Stokes dr.gsbharaj
I use the 38.2 & 61.8 fibonacci retracements for my target levels on advanced patterns
yoseph.ronald Akil_Stokes
Welcome back Akil, glad to see u around..
+1 Reply
Akil_Stokes yoseph.ronald
Thanks Good to be back
dr.gsbharaj Akil_Stokes
is it the CD leg fib?
+1 Reply
Akil_Stokes dr.gsbharaj
It would from A to D on this pattern
The RSI isn't under 20 based on your system but in any case interesting setup
Akil_Stokes TradersClub
is that a question for me Daniel?
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