Akil_Stokes
Short

GER30: Low Risk Short Into Previous Structure Support

FX:GER30   DAX index of German listed shares
I wanted to hold this for my webinar with Tradingview today, but it looks like we're already starting to move so I'll give it a share as well. By the way if you haven't registered here's the link http://blog.tradingview.com/?p=1083

Live Room members, if you remember last week we talked a lot about waiting for opportunities where the risk reward is heavily in our favor, especially if we want to take an aggressive approach. Well on Friday we came right into previous structure support which should now act as resistance on the Ger30             . Conservative traders I would key in on this level and wait for a double top for a more conservative approach.

No tricks to this trade just LOOK LEFT as structure will leave clues. Although we're in a heavy bullish trend on the HTFs, we have seen some relief as of late. I'm not sure how long this relief will last but for the bears there is a lot of continued opportunity to the downside.

Akil Stokes -Head FOREX Trading Coach at Trade Empowered
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Neel_K PRO
2 years ago
Thanks Akil. Going Good so far!

The bears are winning this one.. but not without a brave face by the Bulls. I've been looking at the PA on 15mins. and its been exciting start of the day so far.
+3 Reply
CromerKing Neel_K
2 years ago
I got short from 11712, was watching it on Friday. A slow descent indeed :)
+1 Reply
Akil_Stokes TOP CromerKing
2 years ago
Let the profits pile up!
+1 Reply
Neel_K PRO Neel_K
2 years ago
PA bears have has been going on this like knife through butter today
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GrigoriySergeev
2 years ago
snapshot
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Looking forward to the webinar :)
+2 Reply
Akil_Stokes TOP Nico.Muselle
2 years ago
Thanks, I'm excited for it.
+2 Reply
GrigoriySergeev Akil_Stokes
2 years ago
Akil, what are the chances in your opinion that the price will go up to 11200?
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Akil_Stokes TOP GrigoriySergeev
2 years ago
Did you mean down to 11200?
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GrigoriySergeev Akil_Stokes
2 years ago
yes
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Akil_Stokes TOP GrigoriySergeev
2 years ago
yes I think it's possible, that was previous structure so we would most likely see some more support at that level. 38.2 from the daily as well i think
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GrigoriySergeev Akil_Stokes
2 years ago
good)))))
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Nico.Muselle MOD Akil_Stokes
2 years ago
Excellent webinar Akil .. but then again, I wouldn't expect anything less from you ! :)
+1 Reply
very nice technical analysys as always akil ! but a little to tisky for my taste as the greek trouble are going to a major point today wich could make it go either way with very big bumps !
+1 Reply
Akil_Stokes TOP jeanbaptiste.laurent.94
2 years ago
Thanks, sitting on the sidelines is never a bad idea, especially when you feel uncomfortable. Can't lose money if you never enter a position.
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jeanbaptiste.laurent.94 Akil_Stokes
2 years ago
can't be more thrue than that ! but if you never enter you can't make any money either ! fot my part I have been short for a couple of week now slowly entering long !
+1 Reply
Akil_Stokes TOP jeanbaptiste.laurent.94
2 years ago
That's true as well, darn it! Now I've got to think of a better saying
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No_more_Post
2 years ago
For me, the previous D1 candlestick too long to short.
GER30
+1 Reply
Akil_Stokes TOP No_more_Post
2 years ago
Nice, just curious (not judging) what are your rules for stops?
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MIchaelTran
2 years ago
Hi Akil_Stokes, do you mind giving us a next Long set up after this short :)
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Akil_Stokes TOP MIchaelTran
2 years ago
If you're looking to get long the next spot would be a retest of the lower support zone, or if we end up breaking above current resistance and retest of that resistance turned support
+1 Reply
ErrolMuller Akil_Stokes
2 years ago
What do you guys think about the Cypher setting up on EURGBP 240M chart?
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ErrolMuller ErrolMuller
2 years ago
Bullish Cypher
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Neel_K PRO ErrolMuller
2 years ago
Do you have a chart ?
Reply
ErrolMuller Neel_K
2 years ago
Neel,

How do I get and Post the chart URL for you. Im new to Tradingview.
Reply
ErrolMuller Neel_K
2 years ago
Haha never mind got it
snapshot


The CD leg Completes right at the completion of the AB leg which gives me a 78.6% for CD completion
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farik666 ErrolMuller
2 years ago
In my opinion, C leg did not hit 1.27 fib extension, so its invalid
+1 Reply
No_more_Post
2 years ago
you already in?
Reply
pflzr
2 years ago
nice one! :)
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No_more_Post
2 years ago
Wow , perfected trade set up.
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TomHall TOP
2 years ago
Very nice once again :-)
Reply
andrewcbr
2 years ago
@Akil - great entry! how do you feel about increasing the position around 61.8 fib lvl (~11525)?
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Akil_Stokes TOP andrewcbr
2 years ago
I personally would see no benefit in doing so, but also keep in mind that I'm not a true trend continuation trader. But in genera;l i never want to open myself up to any extra risk, I'm all about avoiding it.
Reply
andrewcbr Akil_Stokes
2 years ago
Thx for the reply and thank you for the yestarday webinar session, was great!
+2 Reply
Akil_Stokes TOP andrewcbr
2 years ago
No problem, i'm glad you enjoyed it. Wish i had more than an hour to do some real teaching but oh well
+1 Reply
Oliver PRO Akil_Stokes
2 years ago
Do you have a record of the webinar please ?
I was kicked out every time i tried to join...
Thanks
+1 Reply
charttrader PRO Oliver
2 years ago
http://www.youtube.com/watch?v=A-zBd9LPCXE
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jimmy_hongkong Akil_Stokes
2 years ago
Akil, many people think that there is support at 11400 and 11200. However, I think that the main support is at 11990 level, then there will be a strong rebound, What do you think?
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Akil_Stokes TOP jimmy_hongkong
2 years ago
12000 and 11200 both look to be pretty good levels of structure. I would say 11400 would be a minor level
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