EURUSD: An Update Analysis on Recent Price Action

FX:EURUSD   Euro / U.S. Dollar
Price action on the Euro             ended up rallying right up to the previous level of resistance that we predicted. Although we didn't see the full trend continuation move that I had on my radar advanced pattern traders were able to take advantage & profit from a pain free bearish bat pattern completion.

Price action has now given us a HHHC about previous resistance which means it's time to rework the analysis. (I got a question about this earlier) but short-term this is considered a bullish rotation, however the underlying trend is still bearish & I would now expect a move to the $1.0900-$1.0950's level for my next killzone.

With the NFP tomorrow I may not have the opportunity to take advantage of that short, so during my day trading session we'll certainly be looking for ways to get long in anticipation of the potential short in my Live Trading Room.

Check out the video I posted yesterday "The Most Important Trading Periscope You've Seen This Year!" https://www.youtube.com/watch?v=xanhpvHHbRY

And as always please hit that THUMBS UP on this post and share it with a fellow trader.

Akil Stokes
Chief Currency Analyst & Head Trading Coach at http://www.TradeEmpowered.com
Trade active
Trade closed: target reached: 1st targets knocked out the box for +113
Trade closed: target reached: Correction +65, I was looking at a different trade when I typed that in
Comment: Looks like we were able to get on the right side of the jobs number. Time to protect open position profit as we work our way down to previous structure
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great analysis!
do you use Ninjatrader to execute your trade or MT4 (I hate it ! LOL)?, I really wish TradingView has live account :(
+2 Reply
Funny_Jasper faisalhasnoon
MT4 not nice haha
Akil_Stokes faisalhasnoon
I personally use ninjatrader
+1 Reply
can you name the last move as double top?
Hi Akil. How do you get +113 for target 1 when you said (in the syndicate) that you entered at 1.0923 ?
That would mean price action down to 1.0810
+1 Reply
I wrote in the wrong, number was looking at a different trade
scairns Akil_Stokes
No worries ... thanks for the update
+1 Reply
No problem, looks like we were on the right side of the trade, really wish we didn't have to do 1 in and 1 out in the Syndicate
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