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2618 Trade

Text Book 2618 - Lesson This is not a trading Idea as the reasons for entry have already been and gone. Text Book 2618 bullish trade 1. Double Bottom against major structure support/resistance 2. RSI Divergence 3. Higher High established 4. Retracement to the 61.8 Fibonacci level How to trade 1. Stop loss below double bottom (according to your rules) must have 1:1 Risk to reward minimum 2. Target 1 Level with higher high 3. Target 2 next level of resistance - if too far then 1.27 fib extension 4. Take target 1 (if hit) and trail stops for target 2 5. Keep riding the wave for as long as you feel comfortable Hope this helps anyone who is here trying to learn Please leave a "Like" if you please Good Luck Steve
Long
by SteveNixon
EURUSD: Retest of Structure & Retest of Double TopEURUSD is setting up almost identically to the Gold and Silver trading opportunities that we discussed in Tuesday's Syndicate video. Looking at a retest of a previous structure shelf that once was support and now is anticipated to show some resistance. We've already double topped during the London session, which means that using the 2618 would be the perfect technique for those looking to get involved. We have another jammed packed day of economic news events being released today especially from the GBP starting at 8am (New York). Thus far this week I've been on the wrong side of most moves but as we demonstrate time in and time out, the only way to get through a drawdown is to trade through it. Easier said than done this week as I'll probably be shutting down shop soon, but I did get filled the Kiwi position so if I could get a positive win on that, it would be a great start to the drawdown healing process. Lastly I'll probably be live on Youtube tomorrow during or right after the Non Farm Payroll release.
Short
by Akil_Stokes
68
Another 2618 in daily structure levelHey guys, this is another chance to get involved in a shorting opportunity given by a 2618. Here we have a double top at a previous daily resistance level (black line) and near to a psychological number (1,49000); by breaking the double top in a downward direction price is giving us reason to believe that the trend is now reversing. The pullback is beyond the .618 retracement and we also put an engulfing candle. That's enough for my rules. I will enter the market and double my position, one at the retest of structure and one in extension. Let's see what happens. If you want to ask me something, don't hesitate to comment.
Short
by Roker1