Akil_Stokes
Short

EURUSD: Potential Trend Continuation Trade (TCT)

FX:EURUSD   Euro / U.S. Dollar
I typically do the bulk of my weekly analysis on Monday after the New York close, but because last week was spent focusing on the educational side of the business, I wanted to get an early start and get back in tune with the markets.

Looking at a potential trend continuation trade here on the EURUSD             . Obviously we have a good amount of time before (if) we get to our Killzone, but as we mentioned during last weeks event. When possible we want to go through our I.P.D.E. process as soon as possible and try to remain a step ahead of the markets (prediction wise).

Akil Stokes
Chief Currency Analyst & Trading Coach
http://www.TradeEmpowered.com

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snapshot


a cypher..
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HI I agrre with you!
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can anyone help me understand why levels 0.382 & 0.5 are marked for possible retracement and not the 0.681 ?
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Nico.Muselle MOD PouryaMakhmali
Because of the previous Structure/Support which should now become resistance, chances are not very high that price action will break through this structure. That I guess is the reason why Akil did not draw in the 0,618 retracement, but he can always correct me if I'm wrong.
+2 Reply
Akil_Stokes PRO Nico.Muselle
Correct Nico, I simply see no need for the 61.8 at this time. Remember guys fibonacci levels aren't magical. They are simply a tool to support our other analysis
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PouryaMakhmali7e Akil_Stokes
Akil could you please explain why you see no need for 61.8 at this time? how you identify this no-need situation?
+1 Reply
Akil_Stokes PRO PouryaMakhmali7e
It didn't serve any purpose when I went through my analysis of the potential setup.
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PouryaMakhmali Akil_Stokes
May I ask what you foresee? (this is merely an educational question)
+1 Reply
Akil_Stokes PRO PouryaMakhmali
I'm not exactly sure what you're asking me
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