EURUSD: A Very Interesting Scenario--> Bull Trade/Bear Cypher

FX:EURUSD   Euro / U.S. Dollar
Interesting situation that we have here on the EURUSD dollar. 1st and foremost the long that I took on the Sunday achieved initial targets at 1.1148, stops have moved to lock targets in & I'm shooting for 1.1220's to remove the next part of my position. (I'll walk you through this trade in Thursday's Video, if you haven't seen it already)

However, we also have a potential bearish Cypher formation which would complete at 1.1192. In the Syndicate I'm all flat the earlier trade because of our 1 in, 1 out rule so I have orders in place to short the Cypher if it completes.

However in my personal account I'm going to allow the initial trade to play out and then look to catch the Cypher at a higher level if the opportunity allows me to.

I always mention how trading is a "give & take" type of game. Well if you're going to be a trader that shoots for multiple/extended targets, sometimes it means passing up on other opportunities in order to let you idea play out. Unfortunately the hard part is that it also sometimes means making adjustments so that your don't get burnt. That's the part that comes with experience.

I'm sure we'll talk more about this in the Live Trading Room today as well as in tomorrow's YouTube video.

Akil Stokes
Chief Currency Analyst & Head Trading Coach
http://www.TradeEmpowered.com -The Premier Online Trading Education Company
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Trade closed: target reached: For the Cypher, (not 2nd targets for the structure long)
Trade closed: target reached: All flat


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+1 Reply
Akil_Stokes FarookKapadia
Thanks. It was a great way to end the week
Hi i want to make buy can you tell me the perfect point to make buy?
+1 Reply
Hey Alahwany, I'm sorry but there are no perfect places to buy or sell in the markets
alahwany Akil_Stokes
thanks bro. for your reply. i will waiting another chance from you. thank you very much
+1 Reply
You're welcome, but don't wait for a chance from me. Always trade what's in your plan and never blindly follow another trader, no matter who it is. That's a very quick way to lose a lot of money
+1 Reply
Love it Coach! Ric
+2 Reply
Akil_Stokes SmartTradingFX
Thanks Ric!!
Hey, Akil. Nice setup. I also took profits from long eurusd))
+1 Reply
Akil_Stokes Alexander_Nikitin
Great to hear man! NZDUSD stopped me out last night which stunk but ti was great to see Euro rally after doing nothing for the first few trading days
+1 Reply
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