EURUSD: Potential Bullish Cypher Pattern & Why I'm Waiting

Sep 21, 2015

It's a busy Monday in the Markets as we're seeing a lot of corrections from last week's major news event. I've got a lot on my radar including potential longs on GBPJPY & AUDUSD. As well as a few potential shorts on GBPJPY & USDJPY. In fact the USDJPY may be filled already on a bearish Cypher .

Speaking of Cyphers we have a potential bullish Cypher here on the EURUSD down at 1.1165. Now because the risk is beyond my acceptable levels (100pips) I won't be able to enter aggressively at the D completion, rather I'll have to wait until I get an alternate reason inside the Kill Zone. in the future I'll be able to simple move my entries down to a level that will put me within that 100pips zone however I do have "rules" about when I can change "rules" so that can't happen until the end of the quarter.

There looks to be lots of movement in the market which means lots of opportunities, so i'm excited about the week ahead. I'm also excited about some testing that I'll be doing trying to "break" a level III system to make sure all of the bugs are out. Admit it you'd be excited to if someone have you a sledge hammer and said "swing away"

Good luck out there traders and thanks for all of the kind comments from this past week's Weekend Review video. The speech that Jason Stapleton gave was great and hopefully it had an affect on your trading mindset! (Here's the link youtube.com/watch?v=QegwE4S1Imc)

Akil Stokes
Chief Currency Analyst at Trade Empowered
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