Coming off a massive week in the Syndicate it’s somewhat refreshing to have only taken a single trade this week. Well two if you count the AUDUSD Bull bat that just filled a few hours ago (60min). Either way a slow week often means that there are a lot of potential patterns going through there setup legs and the EURUSD is a prime example.
Three potential patterns on this pair, on this time frame. A potential Bullish Gartley, a Bearish Gartley, and a Bearish Cypher. Not much on the news front until tomorrows ECB Press Conference and our normal Thursday Unemployment Claims, so we’ll see how things pan out.
Well this week I’m a little short on ideas, so if you have something that you’d like to be discussed do me a favor and leave your comment under this video and I’ll go through them before tomorrow’s recording starts. Good luck in the markets traders and remember…
Akil, if you could, mention about day trading in stocks on 5 min time frame.What we need to notice, any cons that may be occured (e.g. lack of past results as structures) and whatsoever you think it could help on this type of trading.
I would appreciate!
Akil_Stokes
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I would love to but day trading stocks is completely different than day trading currencies and I'm probably not the best person to teach about that subject. Same principles apply, but in the stock market there's a lot more involved in narrowing down which stocks you're paying attention to since in order to day trade you have to find a stock with enough recent movement to make it worth your while. Sorry, I just don't feel right talking about it in video form when i'm not 100% confident about it. I hope you understand
antonyde
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Quite understood! Too honest! Thank you
Akil_Stokes
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Thanks, again the principles are the same as far as the technicals go you'd just have to be sure to identify a stock that has movement
antonyde
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Of course I pick up only stocks with movement. The only thing that worries me is that I can't rely on structure,every day is a new day new S/R, so I take into consideration every technicals except structure.I hear you say "no entry to trade unless includes structure" so every time I got CTS -2 (as structure counts 2).Thanks
Koryphaeen
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Here is a potential opportunity right now... I'm not adding too much comment here, is not needed I guess :)
Koryphaeen
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And it comes right after a Bat I closed recently in profit...I'm already in to this trade
Akil_Stokes
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Nice, I've got it as a bat pattern on my data so I'll be looking for a slightly higher entry point, but I like the short
Koryphaeen
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Target 1 already hit with the Gartley. I think that if you waited for the Bat you weren't got filled, do you? That's why trading is so interesting, there are many point of views, which by the way are, from technical view, correct, but only one will function, or none in extreme cases :)
Akil_Stokes
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No did not get filled, came close but didn't rally high enough for my orders to be hit
I would appreciate!