Akil_Stokes
Short

AUDCAD: The Trade Before The Trade

FX:AUDCAD   Australian Dollar/Canadian Dollar
Last night I discussed the AUDCAD             in a video that I put out for my Syndicate members. We had previously earned some pips on a a bearish Bat pattern , but the market never really ran too far way from this general area.

What caught my attention was the series of higher lows and the fact that we finally achieved a LLLC as on last nights analysis. I didn't have a chance to hop on the trade because of a little something called needing to get sleep, but I told them that breaking those lows was the 1st sign of a bearish rotation.

This morning we see that the market has put in a continuation move down and now I'm looking for another chance to hop on this newly formed trend. The ebbs and flow of this recent move has also set up the 1st 3 legs of a bearish Cypher pattern . Although this pattern doesn't yield enough profit for me to take it as a pattern can can look at it as a way to hop on the trend continuation move and ride it down to previous structure lows and/or the next bullish cypher .

Akil

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Akil Stokes -Head FOREX Trading Coach at Trade Empowered
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fximperija
2 years ago
Daily bearish bat still in play for shorts, reached T1 on the first run. Now looking for hitting again and continue lower, since AUDUSD seems to be stopped on bullish move and USDCAD also in a Double Top (daily) retracement formation.
snapshot
Reply
fx1
2 years ago
a bearish bat is taking shape but on a weekly chart on AUDCAD
Reply
Jurij
2 years ago
The small cypher completed with nice symmetry 14 bars left and 13 right, let's see how it goes ;)

Good Luck!
+1 Reply
Jurij Jurij
2 years ago
Wow that was fast, thanks Akil :D
+1 Reply
Akil_Stokes TOP Jurij
2 years ago
No problem, I just pocketed my targets so I now give permission for the HTF stuff mentioned above to occur lol.
+1 Reply
desember.tan
2 years ago
I've see your post at trading view for quite a while, at least up to 80% accurate. Thanks akil. Very appreciate your efforts, but sadly, I din take all of the trade, guess I'll follow ur idea start from today. Looking forward for your post soon.
+1 Reply
Akil_Stokes TOP desember.tan
2 years ago
Thanks, but please don't think I'm 80% accurate. I typically range between 55-65% Also I don't advise that you enter any trades because I post them. Rather use them as educational material. Always trade what's in your plan as following others is a quick way to go broke. Thanks again for the compliments though.
+2 Reply
TradersClassroom Akil_Stokes
2 years ago
Bingo. When the market gets moving only Akil knows his plan. That's what makes it work for him.
-1 Reply
TradersClassroom
2 years ago
Wow. This thing hit that D point and fell off a cliff. Nicely done
+1 Reply
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