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

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
www.TradeEmpowered.com -The Premier Online Trading Education Company
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For the Cypher, (not 2nd targets for the structure long)

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All flat