Akil_Stokes
Short

EURUSD: An Update Analysis on Recent Price Action

FX:EURUSD   Euro Fx/U.S. Dollar
a year ago
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 www.TradeEmpowered.com
a year ago
Trade active
a year ago
Trade closed: target reached: 1st targets knocked out the box for +113
a year ago
Trade closed: target reached: Correction +65, I was looking at a different trade when I typed that in
a year ago
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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kujjainwala
a year ago
Could you say a cypher is being formed with completion of the BC leg on the hourly chart?
+1 Reply
Akil_Stokes TOP kujjainwala
a year ago
Yes that's certainly a possibility. Way to be ahead of the market Kujjainwala
Reply
kujjainwala Akil_Stokes
a year ago
Thanks for the feedback. Just learning and trading with real money tends to keep me attentive as compared to a demo account.
+1 Reply
Akil_Stokes TOP kujjainwala
a year ago
We had a similar discussion in my live trading room this morning. For some people trading with live money (very small) vs. a demo account is better because they actually get to see what the emotions feel like. here's a video we did on that before the holiday's https://www.youtube.com/watch?v=S8Mn0YnzXV0
+1 Reply
RJHumphries PRO Akil_Stokes
a year ago
trading very small amounts of real money I have found really useful. I've been getting excited about making £2.50. It's a great way to learn firstly how to trade, ie the actual process of placing orders, stops, targets etc and secondly how to deal with the emotions involved in winning and loosing actual real money. The real beauty of it being if you loose £100 its gonna hurt a little but isn't going to impact your life like loosing £100,000!
+1 Reply
Akil_Stokes TOP RJHumphries
a year ago
Great comment RJ. I'm glad you wrote this because your brought up another overlooked point. I've known many traders that go straight from demo to trading live, but don't actually practice putting live trades on in the market. I know for me actually putting an entry stop and target on was a really difficult especially on an unfamiliar charting package
Reply
RJHumphries PRO Akil_Stokes
a year ago
Thats right, I use an iphone app to place trade, some may snigger at this but its a portal I have gotten used to using it firstly by demo trading and then small amounts, which is where I still am.

I was meaning to ask you Akil about stops and targets. I've found myself missing targets by like 5 pips and hitting stops that were a couple of pips too short. Is the a rule of thumb for these, ie place stops above structure and targets just below . Also I've been missing entry points by fractions, is that because I'm placing orders that are a little bit too extreme by being too cautious??
+1 Reply
Akil_Stokes TOP RJHumphries
a year ago
At the end of the day, it doesn't matter how you do it as long as you get the orders on in time
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Akil_Stokes TOP RJHumphries
a year ago
That's hard to tell without being able to evaluate your trading but in general I would always advise that you use structure to help with stop placement.
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RamdzanY
a year ago
Could use this bat pattern as entry reason for short as well.
snapshot
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sazari
a year ago
If you want to learn all this stuff sign up for the 12 week transformation like me!
+1 Reply
Akil_Stokes TOP sazari
a year ago
Thanks for the support
Reply
SmartTradingFX
a year ago
Was entry on limits dude?
+1 Reply
Akil_Stokes TOP SmartTradingFX
a year ago
market order
+1 Reply
jackson424
a year ago
Thumbs up!
+1 Reply
Akil_Stokes TOP jackson424
a year ago
thanks Jackson
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eurusd moves according your idea. thank you very much.
+1 Reply
Akil_Stokes TOP AgungKartakusuma
a year ago
You're welcome,
Reply
AlMak
a year ago
Perfect!!!!
+1 Reply
Akil_Stokes TOP AlMak
a year ago
Thanks
Reply
scairns
a year ago
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
Akil_Stokes TOP scairns
a year ago
I wrote in the wrong, number was looking at a different trade
Reply
scairns Akil_Stokes
a year ago
No worries ... thanks for the update
+1 Reply
Akil_Stokes TOP scairns
a year ago
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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Akil_Stokes TOP scairns
a year ago
Although with how this week went, it still would have been a brutal beating lol
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MuzafferTorman
a year ago
can you name the last move as double top?
Reply
Funny_Jasper
a year ago
EURUSD
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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
a year ago
MT4 not nice haha
Reply
Akil_Stokes TOP faisalhasnoon
a year ago
I personally use ninjatrader
+1 Reply
arif_awan
a year ago
great analysis!
Reply
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