Akil_Stokes
Long

CADJPY: Perfect Example of a Structure Based TCT Opportunity

FX:CADJPY   Canadian Dollar/Japanese Yen
a year ago
Not a pair that’s in my trading portfolio but I have no doubt that this will be on Jason Stapleton’s radar during this morning Warroom meeting. This is a simple Trend Continuation Trade (TCT) setup on the CADJPY             as we look to get long at our current level of structure support.

WHAT I’M LOOKING AT
Price action has just broken a resistance level and has retraced back to structure for the second time. The current structure shelf allows you a nice area to get involved with minimum risk, while our previous structure highs look to be a good area to do some profit taking. The only question is “how do I get involved?” Well that parts up to you and your trading plan. An aggressive trade can simply buy it up at market, while a more conservative trader may need to go down to a lower timeframe and wait for confirmation at that level. Either way I think it’s a great example of the type of trades that I look for when searching for TCT type setups. Just do me a favor, make sure you follow your rules, because you saw what happened to me when I didn't ( https://www.youtube.com/watch?v=elDeCm-mpro )

Akil Stokes
Chief Currency Analyst at Trade Empowered
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a year ago
Trade closed: target reached: Hey guys, I'll be showing the (recorded) live analysis of this trade setup in tomorrow's video. But we achieved our initial targets yesterday and stops have been rolled to breakeven. We ended up taking a slightly different approach to this trade then what was originally showed in the chart above. Again, check for it tomorrow https://www.youtube.com/channel/UCVveEks3MWZqOsvzTF_LGQg?sub_confirmation=1
a year ago
Comment: Just uploaded a video of the live analysis that we did on this pair, including why we changed our idea about where to take initial targets

"There are typically two things that hold a trader back from seeing success. Lack of a solid trading plan & the inability to follow that plan. In this week’s Forex Trading video we not only discuss these topics, but we also walk through a live trading opportunity and go over a trading technique that can help cut down on your losses." https://www.youtube.com/watch?v=3S1wenENILI
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BLUE43 TOP
a year ago
yes
+1 Reply
Akil_Stokes TOP BLUE43
a year ago
thanks
+1 Reply
Thx for sharing.
Looks like a good opportunity with a low risk.
+1 Reply
Akil_Stokes TOP Don_Corleone
a year ago
Yeah, I wish I could trade this one. Hopefully Jason Catches it
+2 Reply
marcus123
a year ago
Thanks for this one! Great work!
+1 Reply
Akil_Stokes TOP marcus123
a year ago
thanks Marcus
+1 Reply
That looks like a good risk/reward profile for this trade on this pair. AUDUSD Gartley also paying out nicely!
+1 Reply
Akil_Stokes TOP barry_fxtrader
a year ago
Thanks, we still have a long way to go on the Aussie, so I'm not getting excited over that yet. Same with USDCAD
Reply
Adil-khan
a year ago
Great idea
+1 Reply
Akil_Stokes TOP Adil-khan
a year ago
Thanks
+1 Reply
moneymaking
a year ago
Hey Akil, great setup mate. Currently going the right way, all the BEST :)
+1 Reply
Akil_Stokes TOP moneymaking
a year ago
yup, hopefully this one makes it into this weeks video. We did a lot of analysis on it this morning
+1 Reply
Akil_Stokes TOP moneymaking
a year ago
and there we go, conservative targets out for 70+
+1 Reply
moneymaking Akil_Stokes
a year ago
Nice work :)
Reply
ong.w.sukmaha
a year ago
Can I ask why you out SL at 91.276 any reason? please explain a bit more on SL for this trade... thank you
+1 Reply
Akil_Stokes TOP ong.w.sukmaha
a year ago
that wasn't the actual stop/loss just showing that it should be below previous structure. In general for my stops I use a combination of structure and average true range
Reply
Hi, Akil. What TCT means?
+1 Reply
Fieldgate Alexander_Nikitin
a year ago
Trend Continuation Trade......it's in the write-up above
+1 Reply
Akil_Stokes TOP Fieldgate
a year ago
Sorry didn't see your response
Reply
Alexander_Nikitin TOP Fieldgate
a year ago
Oh, thanks)
Reply
Akil_Stokes TOP Alexander_Nikitin
a year ago
Short for trend continuation.
Reply
Just opposite on this pair. But still, we can both be profited because my stop is above your takeprofit. Price may go lower after you book a profit).
+1 Reply
Alexander_Nikitin TOP Alexander_Nikitin
a year ago
snapshot
+2 Reply
Akil_Stokes TOP Alexander_Nikitin
a year ago
Nice, we looked at this in the live room and it caused us to put our take profit at that same shoulder/ Great analysis man!
+1 Reply
Mother-ofChinKeat Alexander_Nikitin
a year ago
Can this be a valid 2618 trade as well?
+1 Reply
Akil_Stokes TOP Mother-ofChinKeat
a year ago
no
Reply
peter.kralmail
a year ago
now it looks like the price is trying to make head and shoulders formation
+1 Reply
Akil_Stokes TOP peter.kralmail
a year ago
Yup, could be
Reply
vdubus PRO
a year ago
looks to have hit 50% with a pull back down to the top side of the trend. May be a rule breaker but pos widen stops just below
snapshot
+1 Reply
Akil_Stokes TOP vdubus
a year ago
Yeah very important to follow ones rules. I know for me personally widening stops would be a big no no, especially after they've already been moved to breakeven in order to protect profit.
+1 Reply
vdubus PRO Akil_Stokes
a year ago
lol it's the spread fees that catch me out more often than not
+1 Reply
Akil_Stokes TOP vdubus
a year ago
Yeah that stinks, just have to account for them when setting up your orders. unfortunately that's part of the business.
+1 Reply
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