As one of my clients showed me yesterday there was a chance to get involved in the initial break of support & retest yesterday, but with us being in a heavily on the higher time frames, I wanted to make sure that this wasn’t just a simple retracement of the bigger move. Now don’t get me wrong, this particular setup can easily be a complex pullback as well, but I do have a much better potential risk to reward setting up here if I can play my cards right.
The presence of a new 3-legged formation (SP-ISH-OR-NSL) gives me a little more confidence but I still want to be cautious and look for the right reason for entry. If we do continue , I’m not expecting a full reversal, but with the trend looking as if it’s running out of steam on the daily, we may be in for a deeper retracement. See many of you in the Live Trading Room!
Do me a favor, if you actually read the write ups that go along with my charts please let me know by either giving the like button a hit or leaving a comment beneath. I always want to be as efficient as possible with my time so I want to get an idea of who’s reading and who’s not.
Chief Currency Analyst
Akil@Tradeempowered.com /@AkilStokesRTM /
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Scott, I'm sure you are a good guy and you probably aren't bashing here but when you say " I doubt most people who follow you do tho. ", do you realize WHAT you are implying? Either anyone who follows Akil is stupid or Akil is giving out bad advice or he can't teach! Which one is it , bro?
I had a good mentor who has been doing this for over ten years now. I moved away.
You were one of the first people I found on YouTube that seems to have a more reasonable approach to this whole Forex thing. You actually admit when you take losses, you don't beat this around the bush and feed your audience a bunch of nonsense. You simply tell it how it is.
I think I'm still really far behind in my knowledge of this (I'm only in 'High School' at Babypips), but I am really anxious to start a practice account and get this started.
I have a feeling I'll be paying attention to you for a while to come, Akil.