AUDCAD: Nothing Fancy Just Pure Structure Trading

FX:AUDCAD   Australian Dollar/Canadian Dollar
No fancy shapes or anything like that today just a pure structure based setup for you guys. We'll be looking for long opportunities on this pair today in my Live Trading Room looking to hop on the current outside return. We're actually inside the killzone as we speak but I'll be waiting for a lower place of entry since I'm more or a trend continuation trader not a trend following trader in these types of situations.

We do have a Fibonacci cluster in this zone as well but what caught my attention was looking at price action and how resistance has recently turned to support around this psychhological level of 0.9950.

If you find that you're unfamiliar with the basics of reading a price chart make sure you watch the FREE Training video called "Into The Grey" http://goo.gl/5e8Jcr

Thanks for all of the support traders and continue to "LIKE" "SHARE" & "COMMENT" under these posts!

Akil Stokes
Chief Currency Analyst & Head Trading Coach

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Trade closed: target reached: Sorry forgot to update this
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Very nice Structure Trade Akil!
+1 Reply
Akil_Stokes PateSkpate
Thanks Kenny, simple price action trades (including breakouts) are still my favorite type of trades. I don't know what it is about them but I love it
PateSkpate Akil_Stokes
Yea me too!.. It's like working a puzzle and trying to figure out where everything goes, its a true art! :)
+1 Reply
Nothing wrong with "Nothing Fancy"
+1 Reply
Akil_Stokes MichaelClemson
Indeed, simple is better
I'm in. Thanks Mr. Akil :D
+1 Reply
No problem and please no "Mr." next time, makes me feel old
Vostiothenjo Akil_Stokes
Old is GOLD Akil lol.. anyway ur a cool dude!
+1 Reply
Akil_Stokes Vostiothenjo
lol thanks man, I just try to make the best out of life. We only get one shot at that trade afterall
Vostiothenjo Akil_Stokes
Pretty nice trade though we waz in earlier and wouldn't be a bad idea to hold it with targets of 1.04015
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