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Akil_Stokes
Jul 20, 2015 11:25 AM

NZDUSD: Ask 2 ?'s "Where Should Price Go & How Can It Get There" Long

New Zealand Dollar/U.S. DollarFXCM

Description

With Jason out of town I’ll be pulling double duties helping out with the morning War Room as well and today I had about six potential trades on my radar. I typically don’t actively trade on Monday’s but I will be keeping an eye on the NZDUSD for multiple trading opportunities. Bigger picture I’m still looking for a chance to short this pair once we retrace to our previous support level, but currently we put in a nice base, which was broken above and could provide as a good place to get long if the market were to retrace to that level. . Sort of like a 2618 type of move.

Whenever I make my predictions about the market I don’t just ask myself “where is price most likely to go?” I also asked myself “How is price most likely to get there?” These simple questions have often given me the opportunity to catch the move before the move.

Obviously a lot can happen, but I always like to start off my week with a plan of “what to look for” that way I’m dialed in. What now? Well now I sit back and see what the market has to do. Remember as traders it’s our job to react, not to tell the market what it “will” do.

If you get the chance check out my Interview on Brandon Clay’s Trading Story website talking about my trading story & setting up a plan of action for you trades tradingstory.com/podcast/35-akil-stokes-trades-fx-and-coaches-track/

Best of luck this week traders, and let me know what you think about the interview.

Akil Stokes
Chief Currency Analyst
TradeEmpowered.com
Akil@TradeEmpowered.com /@AkilStokesRTM / Forex Weekend Review Videos:
youtube.com/playlist?list=PL3pkGkL2zWpHt7X4ZeT0w0n6hk0C8Lwx1
Comments
cristian.d
You must see the future :) looking at this 22 days later and price actually followed your arrows .... down and up , wow, just wow. Too bad I don't do Forex but it's fascinating to watch
Akil_Stokes
Thank you
PriceActionTrading
Nice nice. I do also have a short NZDUSD supporting your idea.
Akil_Stokes
Nice!!
UnknownUnicorn226610
Thank you for the tips.. great call. I took a 75 pips profit!
Akil_Stokes
Very well done
awan0454
Damn I always watch it later. I have 7 years of trading experience and believe me it's really hard to call with such accuracy. I am starting to fall in Love with you.
Akil_Stokes
Thanks! Please know that historically I've only been about a 50/50 trader so there are just as many predictions that don't pan out.
IvanLabrie
What matters is risk vs reward vs hit rate, right Akil?
Good one nevertheless.
Akil_Stokes
Yup, what matters is that you make more from what you win then what you give back when you lose
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