Akil_Stokes
Long

EURAUD: Got the breakout, now Looking for the pullback

FX:EURAUD   Euro Fx/Australian Dollar
Although I don’t day trade on Monday’s I have a handful of pairs on my radar for my swing trading portfolio. Multiple patterns on the EURUSD             , a few setups on USDJPY             , NZDUSD             and of course the chart above on EURAUD             .

We were watching this pair last week for the bullish breakout and now that we’ve gotten it, the next chance to hop on would be at a pullback. Looking on the hourly we also have a potential bullish bat pattern setting up as well which lines up with what my top down analysis is telling me.

If the buyers want to maintain control over this pair then we shouldn’t see a dip below that 1.48 level as that even handled number would be a cheap price to reinvest.

I’m expecting a busy week in the markets so be careful out there. Lots of news coming out, especially between Tuesday & Wednesday.

Good luck this week traders and if you didn’t get a chance to this weekend, make sure you check out my latest YouTube video talking about market Psychology & why we see the movements that we do.
https://www.youtube.com/playlist?list=PL3pkGkL2zWpHt7X4ZeT0w0n6hk0C8Lwx1

Akil Stokes
Chief Currency Analyst
http://www.TradeEmpowered.com
Akil@Tradeempowered.com /@AkilStokesRTM / Forex Weekend Review Videos:

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Hey Akil, Thank you for placing the 2 different charts together. That makes it really easy to compare the trading time frame with the major trend on higher time frame. All the best to you as well for this new week of trading :)
+1 Reply
Akil_Stokes PRO moneymaking
Thanks best of luck to you as well
+1 Reply
hey akil....so if price drops below 1.48, you think uptrend is over?
+1 Reply
Akil_Stokes PRO SharifAzadeh
No, the uptrend won't be over until the previous retracement is violated
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SharifAzadeh Akil_Stokes
which retracement buddy?
+1 Reply
Akil_Stokes PRO SharifAzadeh
a trend is invalidated when the last pullback is broken
Reply
Akil_Stokes PRO SharifAzadeh
it depends on the tf but for the hourly that pullback is at the 4780s level
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Hey! Almost same opportunity in GBPAUD. Good Luck!
Trend Continuation: GBPAUD Outside return into Cypher Pattern.
+1 Reply
great find!
Reply
felix92 Akil_Stokes
Thanks Akil!
+1 Reply
No problem, I'm about to do my HTF analysis and I'll probably add this to tonight's Syndicate video
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felix92 Akil_Stokes
We're filed on both pairs. See if we can get some profits out of them..Good Luck!
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Cha-Ching, at least on the GBPAUD, appreciate the head up on this one, I really wanted to get long on gbp pairs going into the overnight due to the CPI release but needed some technical reasons to do so.
+1 Reply
felix92 Akil_Stokes
High prob. patterns at high prob. level with a high prob. risk reward is a perfect way to get involved, I guess.
+1 Reply
Amen to that
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SharifAzadeh Akil_Stokes
What's your opinion now Akil?
+1 Reply
Akil_Stokes PRO SharifAzadeh
I'm still in the trade so it's the same. I would say that I'm expecting a loser on this trade though since structure has been violated
+1 Reply
felix92 Akil_Stokes
We're currently sitting at the 0.786% (bigger cypher pattern) with a double bottom, so I am hoping to see a weaker Aussie over night...
+1 Reply
I hope so, we've got some minor news out tonight, but I'm hanging out at around -40 right now which I've already mentally tallied in as a loss, so if I can pull some type of profit out of this it's icing on the cake!
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