Hey Traders!
I hope you had a great end of the trading week, month & quarter. Regardless of your results it's time to wipe those memories clean & get focused on the now as we get into the final stretch of our 2017 trading year.
This idea is better explained in my recent video, but what I'm looking at is the potential end to the Euro's year long bullish trend. As you can see on the chart, we've recent seen weaker & weaker pushes higher and after creating our most recent New Structure High we've seen selling pressure hold giving us triple stops. We've yet to see a violation of our previous structure lows which would confirm a bearish rotation at the least, but it's looking like the steam could be ending in this trend and markdown could be in store.
Now before you hit that SELL button just because you've looked at my chart, REMEMBER that this is just a prediction, a prediction that is early in the process and in order to find a shorting reason I'm going to need to price to confirm my suspicion. So as of now all of the pre-analysis has been down as far as forming a prediction and knowing how I'm going to react if that prediction comes true, now I just have to wait and see if the market agrees.
As always i'd LOVE to hear your opinion so feel free to share a QUESTION, COMMENT, OR CHART below. I do ask that you be polite to each other and be open to different opinions, after all the markets move because of the difference in opinions.
Happy October
Akil Stokes
Video explaining this setup available in link below
I hope you had a great end of the trading week, month & quarter. Regardless of your results it's time to wipe those memories clean & get focused on the now as we get into the final stretch of our 2017 trading year.
This idea is better explained in my recent video, but what I'm looking at is the potential end to the Euro's year long bullish trend. As you can see on the chart, we've recent seen weaker & weaker pushes higher and after creating our most recent New Structure High we've seen selling pressure hold giving us triple stops. We've yet to see a violation of our previous structure lows which would confirm a bearish rotation at the least, but it's looking like the steam could be ending in this trend and markdown could be in store.
Now before you hit that SELL button just because you've looked at my chart, REMEMBER that this is just a prediction, a prediction that is early in the process and in order to find a shorting reason I'm going to need to price to confirm my suspicion. So as of now all of the pre-analysis has been down as far as forming a prediction and knowing how I'm going to react if that prediction comes true, now I just have to wait and see if the market agrees.
As always i'd LOVE to hear your opinion so feel free to share a QUESTION, COMMENT, OR CHART below. I do ask that you be polite to each other and be open to different opinions, after all the markets move because of the difference in opinions.
Happy October
Akil Stokes
Video explaining this setup available in link below
"The Trading Coach Podcast" - Available on your favorite podcasting app!
anchor.fm/thetradingcoachpodcast
anchor.fm/thetradingcoachpodcast
