EURUSD: Two Levels on my Radar Part II

FX:EURUSD   Euro Fx/U.S. Dollar
If awake at the close of the 5am candle I would have jumped in the double bottom long. Fortunately (this time) I missed out on what looks like may be a failed test as we've broken (but not yet closed) below.

This means all eyes are on the lower level of structure mentioned in yesterday's post around the 1.1160'd-1.1140's level.
It would have been great if the 1.168 fibonacci extension & one-to-one measured move lined up with that level instead of lower. But stops need to be beyond the lower support zone regardless so it doesn't effect the trading opportunity all to much.

Certainly a pair that we'll be keeping an eye on during today's trading session.

Akil Stokes
Chief Currency Analyst & Head Trading Coach
http://www.TradeEmpowered.com -The Premier Online Trading Education Company

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Comment: Just got short in the Live Room (5 Range Bar Chart) on a TCT trade in anticipation of this long
Comment: Sorry gang, forgot to update yesterday, missed initial targets yesterday bu 7pips and was stopped out on trail stops for +14 I'm all flat everything heading into the FOMC
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Nice one. we maybe see a Golden Cross with the 200 and 50 MA on 240m and maybe divergence! this will be interesting! :)
+1 Reply
Akil_Stokes PRO AndiThirteenthOne
Thanks. Curious, why is that MA cross over called the "Golden Cross"?
+2 Reply
The golden cross occurs when a short-term moving average crosses over a major long-term moving average to the upside, and is interpreted by analysts and traders as signaling a "definitive" upward turn in price in a market. and if the Long-therm moving average get broken by the Short-Term MA its called death cross :)

Why its called a golden Cross is a good one :P i think its a term that Trader or investors. Its like if you see the market makes a "Golden cross" So Traders and investors going to move the market soon...so High volume "if you trade it that way ofc it takes more stuff to consider" "Gold" = buy "Death"= Sell :)
+1 Reply
Akil_Stokes PRO AndiThirteenthOne
Thanks, learned a new term today.
+2 Reply
yeah nice one
+1 Reply
Akil_Stokes PRO fhatuwani.mathobo
Thank you
+1 Reply
It broke 1.1223 from my calculations I kinda see it going lower, right now just a little or medium retrace before going down more. But I see 1.15 in near term.
+1 Reply
Iconium MetalCruisers
When will come 1.15? a month, a week?
Before brexit, transfer to usd or wait on euro, which one is reasonable
Hi Akil, there is also a gartley pattern on the 4hr chart. X-A, A-B and B-C already formed. Your long could finish the C-D leg.
+1 Reply
Nemo75 MinervaFX
Hi Minerva,
could you please share your ideas visualization with us. I must confess, that I could not find any Gartley in the H4 chart.
Thank you in advance.
+1 Reply
X = 1.16143
A = 1.10966
B = 1.14165
C = currently forming
D = 1.14984
+1 Reply
Nemo75 Roker1
Zoomed out ... and yes, there it is. Thank you for sharing :)
+1 Reply
Sorry to reply so late, but here is my link
+1 Reply
Indeed it could be. Certainly something to consider for those shooting for extended targets
Are you predicting the market will go bullish? Thanks Akil
+1 Reply
Yes, I'm looking for bullish trading opportunities
Akil , isnt there a bat pattern 4hr, X @ 1.1100?
+1 Reply
Yes there is
Still Short, Akil?
I am looking for 1.1160
+1 Reply
Akil_Stokes PRO MetalCruisers
No, I got out yesterday
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