Akil_Stokes

EURUSD: A Look Ahead (Day 1)

FX:EURUSD   Euro Fx/U.S. Dollar
The response of last week's test of following a single pair throughout the entire week was FANTASTIC! I really enjoyed doing it, and a lot of you really enjoyed seeing how my analysis (IF/THEN Thought Process) changes throughout the week. Per request, this week I'll be following the EURUSD             . Now Monday's are typically my non-trading day. I will place them if something comes up, but I'm not as actively engaged in the markets due to my educational obligations and because I like to give the market a full London & New York             session to feel its way out.

So I haven't done any long term analysis on the Euro             as of yet, but I did notice two potential Gartley patterns that are setting up. One bullish and the other bearish . Which makes perfect sense if you think about it since this pair as been in consolidation and consolidation breeds pattern trading opportunities.

I'll keep you guys updated each day this week on how my thought process had changed and if I ended up entering a position or not. Speaking of positions, your you guys that were following me last week with my GBPUSD             analysis, i did end up entering long this morning down at 1.5810's. I'm looking for an initial bounce to 1.5850's and if we can continue to see GBPUSD             strength after that, well let's say that I'll be a very happy camper.

Talk to you guys throughout the week!

Akil Stokes (@AkilStokesRTM)
Chief Currency Analyst at www.TradeEmpowered.com
You Can Check Out My Weekly Trading Videos Here: https://www.youtube.com/playlist?list=PL3pkGkL2zWpHt7X4ZeT0w0n6hk0C8Lwx1
Akil Stokes -Head FOREX Trading Coach at Trade Empowered
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mkirgotty
a year ago
Thank's Akil for your good work. Looking forward to this week's analysis
+1 Reply
Akil_Stokes TOP mkirgotty
a year ago
Thanks, hopefully this pair gives me something to talk about
Reply
TNT88
a year ago
hi akil i want to ask is this a valid bat pattern? btw nice share akil and thank you i'm really glad to have trading mentor like you
snapshot
+1 Reply
Akil_Stokes TOP TNT88
a year ago
Yes it is
Reply
glaxo Akil_Stokes
a year ago
Now Akil, we have two bullish Bartley patterns. One for you and one for TNT88, so the two patterns are correct , which was more accurate? I mean how do I know which one will be completed first ? If I follow TNT pattern, I will be stopped by your pattern stop lose. Kindly advice
+1 Reply
Akil_Stokes TOP glaxo
a year ago
There's no way to know which one will be more accurate as they are both valid patterns. The bullish gartley pattern that I showed will complete 1st since the bullish bat pattern is below it. Depending on your rules for stop losses you can take both since the bat completes below the gartley's "X" leg. If you're stop loss for the Gartley comes beyond the entry for the bat, you can either split your position and still take both, or pick one over the other. in my opinion a completed pattern is always better than a "potential" pattern seeing how we don't know if the potential will actually complete until it does, but this is certainly a scenerio where you may have to make a decision and choose one.
+1 Reply
glaxo Akil_Stokes
a year ago
Thanks Akil, u know now the gravely pattern is not valid as it violate the X leg starting pint, now we are looking to see if the Bat pattern will be completed and be valid or not.

But I want to know how can I identify the completed pattern from the potential pattern ?
Reply
Akil_Stokes TOP glaxo
a year ago
The pattern is complete once price action meets the D leg completion point
Reply
kalong TNT88
a year ago
Nice 2 bullish pairs, although I think we may be in the bearish action soon.
+1 Reply
Remco
a year ago
Was also looking at these patterns, orders ready to go!
Btw, Thanks for the book tip: "The way of the Turtle", i am half way and enjoying it so far!
+1 Reply
Akil_Stokes TOP Remco
a year ago
No problem, I blazed through it pretty fast as well. I found it to be pretty interesting so i'm glad you're enjoying it as well.
Reply
rv
a year ago
looks great, thanks.
+1 Reply
Akil, I think we might validate your bearish pattern first, then head for the Gartley/Bat's PRZ.
+1 Reply
Akil_Stokes TOP IvanLabrie
a year ago
That would be awesome if we could somehow get back to backs
+1 Reply
IvanLabrie TOP Akil_Stokes
a year ago
I think the dollar's still weak and that eurusd and gbpusd will form a coiling pattern before a stronger rally can emerge.
+1 Reply
Akil_Stokes TOP IvanLabrie
a year ago
I hope you're right, I strong GBP and weak USD would do me wonders right now
Reply
IvanLabrie TOP Akil_Stokes
a year ago
GBPUSD: Long term view and forecast


It'll probably correct stopping short term traders though, but might rally after the Euro summit.
+1 Reply
IvanLabrie TOP IvanLabrie
a year ago
Here's my updated EW count on it to add some clarification, and the weekly target for this week's action (before the 29-30th when we might see a short term top, leading to a good short).

snapshot
Reply
You have soooo taught me well. I picked this out too prior to reading this. I'm inside your head Akil!
+1 Reply
Akil_Stokes TOP BennyManieri
a year ago
Get out of my head!!! Well done
+1 Reply
glaxo
a year ago
Akil now we are long , I'm long from 1.1225
+1 Reply
Akil_Stokes TOP glaxo
a year ago
Best of luck
Reply
George1
a year ago
Akil_Stokes you are the best in this bro....thanks for teaching us how to trade right..
+1 Reply
Akil_Stokes TOP George1
a year ago
Thanks George, glad I can have such a positive impact on you guys
Reply
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