Akil_Stokes
Short

EURUSD: Two Advanced Pattern Formations & TCT Opportunities

FX:EURUSD   Euro Fx/U.S. Dollar
Hey Traders, shout out to a good trading friend of min @journeyofaRookie2.0 for giving me the heads up on this opportunity. As a teacher and trading coach, one of the benefits is that when the traders you work with become good, they become extra eyes on the market me.

What we're looking at here are two potential Advanced Pattern Formations on the $EURUSD A Bearish Cypher (Yellow) & Bearish Bat (Pink). Yesterday we were able to use a bearish Cypher as an entry reason into a bigger Trend Continuation Trade (TCT) & this setup offers us a very similar opportunity.

Charles & I had a discussion about this after yesterday's Warroom Meeting, but we both think that there is downward potential to the $1.0620's areas before finding potential structure support!
With DXY on its way down, I wouldn't be surprised that we get more continuation, or small retraces once those PRZ's are reached.
+1 Reply
Akil_Stokes PRO purpurato59
@purpurato59, Thanks for the comment!
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Hi!
In my opinion, it will go Long way beyond that. DXY started it's retracement on the Daily TF as it has hit the resistance of 02-12-2016. EURUSD touched one of the lowest resistance daily TF and started it's retracement as well. It will not surprise me if it reaches the 1.47200 bar. hmmmm... wait I will show you
+1 Reply
Akil_Stokes PRO BabasNumbaOne
@BabasNumbaOne, Thanks for sharing your opinion
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made a mistake, I was looking at EUCAD at the same time, so It will not surprice me if it goes up to 1.08700 bar!
+1 Reply
Akil_Stokes PRO BabasNumbaOne
@BabasNumbaOne, ahh no problem, I've done that plenty
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BabasNumbaOne Akil_Stokes
@Akil_Stokes, I think we are both right but on different TF ahahah sorry bro

[EURUSD] Follow exactly the graph and everything will be alright
+1 Reply
Akil_Stokes PRO BabasNumbaOne
@BabasNumbaOne, We're always right as long as we follow the pan and our rules of engagement
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And for EURCAD ->1.47200
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There was also a 1,618 fib inversion trade with DT, rsi divergence and AB=CD. I used this as an entry reason and just got filled with first target, now waiting for the retest of previous low with SL at BE
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Akil_Stokes PRO FabianoGollo
@FabianoGollo, Well done
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Boom! quality Akil! thumbs up!!!!
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@LeoTran, Thank you
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Akil you are the wizard of Pattern.. learning so much thanks to you
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@jokergbck, Thank you
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Hey mate! I've got a professional question. Sorry to bother you, but i'll be gratefull to you, if you can answer. There's a screener service of Forex Finviz. In this Finviz i see a performance on daily or weekly etc. For example, right now the AUD has a worst trend and CAD the opposite. Does it means that i have to sell AUDCAD authomatically? Or the JPY and CAD on weekly. Does it means i have to buy CADJPY? I don't know. Maybe it is bullshit, because the trends are changing quickly?
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