Akil_Stokes
Long

NZDUSD: The Last Trade Have On

FX:NZDUSD   New Zealand Dollar/U.S. Dollar
It's been a very slow week for me, but luckily Jason is picking up the slack. Going into Friday's Job Report I have no intention of entering any new positions aside from this potential bullish bat pattern on the Kiwi. NZDUSD             is in a very interesting position as our HTF             trend has bounced off previous structure resistance, yet our LTF trend has recently created a NSH             and is retesting previous structure support. Consolidation perhaps?? Hope so since that would work well for pattern traders. VERY IMPORTANT. IF this trade does not trigger before tomorrow mornings top-down analysis THEN I will remove all orders as I want no parts of the crap shoot that is the Non-farm Payroll report.

As always it's Thursday so that also means the release of my weekly WEEKEND REVIEW video. (link at bottom)) In this week's video "Dollars Don't Matter" I talk about this NZDUSD             trade, how we can help each other out in the initial phases of backtesting an updated version of an inside bar breakout strategy that i used to trade, and of course an update of how Jason and i have down int he Syndicate. here's a clue...I haven't done much lol

https://www.youtube.com/watch?v=UvH5rMqPKuo&list=UUVveEks3MWZqOsvzTF_LGQg
Lastly make sure you clear your schedules for early April ;-)
Akil Stokes -Head FOREX Trading Coach at Trade Empowered
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"Plan Your Trade, Trade Your Plan"




Good one Akil ! And April ... any ideas on the topics that are going to be covered yet ? Will it be a one week event like the last time ? Looking forward to it ! :)
+1 Reply
Akil_Stokes TOP Nico.Muselle
2 years ago
I have no clue what I want to cover yet. Soooo many options. I'll probably have what direction i want to go figured out by tonight. But yest it'll be a week long
+1 Reply
Nico.Muselle MOD Akil_Stokes
2 years ago
Cool, looking forward to it ... As previous one was quite technical analysis (top down - consistency) biased, I guess it'll be more on money/risk management and trading psychology this time around ... Anyway, no matter what it is, always interesting to me ! :)
+1 Reply
Akil_Stokes TOP Nico.Muselle
2 years ago
Probably, won't do anything with money management as would probably confuse people more than it would help them. Plus most of the traders attending will be on the newer side so money management is the least of their concerns. Doing something on trading psychology is a great idea, i'll add that to the list. thanks a lot for that idea!
+1 Reply
Nico.Muselle MOD Akil_Stokes
2 years ago
Agree, if a lot of new traders, better to be consistent before thinking about money management. Risk management though is something that could be interesting I guess. Like what position size can I trade with my account and how much can I risk being conservative or more aggressive. I get that question a lot from less experienced traders.
+1 Reply
Akil_Stokes TOP Nico.Muselle
2 years ago
Yeah, that's just an extremely in depth subject which is individual to each trader based on strategy, testing results, portfolio, avg. loss, max allowable drawdown etc.
+1 Reply
Nico.Muselle MOD Akil_Stokes
2 years ago
Actually, you are right, that would be too individual ... Anyways .. I know that the training will be sublime, as always ;)
+1 Reply
Akil_Stokes TOP Nico.Muselle
2 years ago
Thinking 2nd week of April, but that's not in stone yet
Reply
DanLaffas
2 years ago
Nice work Akil. I'm actually looking for this to possibly develop into a 2618 trade next week (see below). As it's just broken out of a rising wedge, I'm anticipating it retesting the lower trendline which would also be around the 0.618 retracement area.

snapshot
+1 Reply
Akil_Stokes TOP DanLaffas
2 years ago
not bad at all, i do think we're going to see a fall. At least based off of the HTFs
+1 Reply
IvanLabrie TOP Akil_Stokes
2 years ago
Akil, here's my take on this pair:

NZDUSD: Short before NFP


Good luck, if you're going to long, it might be better to do it now, the resistance at 0.7515 is just too strong probably.
+2 Reply
Akil_Stokes TOP IvanLabrie
2 years ago
If the bat were to complete targets would be filled before the 7515 level. Cool thing about the timeframes is that a lot can happen on the lower ones that won't even make a dent on the higher ones
+1 Reply
IvanLabrie TOP Akil_Stokes
2 years ago
Indeed, and this HAS to come up so I can get a fill :p
Good luck to us all Akil! ;)
+1 Reply
Akil_Stokes TOP IvanLabrie
2 years ago
have a feeling I won't get my fill, but it would be a win win for both of us. How awesome would that be
+1 Reply
IvanLabrie TOP Akil_Stokes
2 years ago
You can always market buy now xD
Reply
Akil_Stokes TOP IvanLabrie
2 years ago
I could, but that would mean entering "just because" which would be breaking my rules. And if I break my rules I have to buy the wife something expensive.
+4 Reply
IvanLabrie TOP Akil_Stokes
2 years ago
Yeah, not cool...Discipline first.
I still think it's the most viable long scenario, once we're retesting the daily low it's free fall time I think.
+1 Reply
Akil_Stokes TOP IvanLabrie
2 years ago
Exactly, we can't control the markets all we can do is participate
+1 Reply
StarProsper
2 years ago
AKIL! You're the best!
+1 Reply
moneymaking
2 years ago
Hey Akil, your rule of removing all orders if we didn't trigger this trade before today's morning was amazing. It really helped me to stay out of the market and not get burned by the Non-farm Payroll report. This shows how important it is to stick to your rules. Thanks a lot!!
+1 Reply
Akil_Stokes TOP moneymaking
2 years ago
Yeah, I learned about that rule the hard way, years and years of playing the non farms gamble game. You know when you place a trade, cross your fingers and pray that the markets move in your direction. No more of that for me.
Reply
moneymaking Akil_Stokes
2 years ago
To be honest, I used to do that as well before I started to learn how to read price action on charts. I especially became more focused into reading price action, when I stumbled upon one of many Jason's YouTube videos. From Jason's videos, I found your videos and the knowledge from these videos have given me a great boost in my trading. I can't thank you and Jason enough for helping me, by your videos, to put me and my trading career on the correct path. Thank You so much!!
Reply
DanLaffas
2 years ago
G'day Akil. Even though the market blew through your posted setup, I think there is still a trade to be had. I've just posted my idea and would like to get your input. I'm just looking to see if I'm reading the structure correctly.

Thanks mate, always appreciate your insights and advice.

NZDUSD - Long opportunity
Reply
Akil_Stokes TOP DanLaffas
2 years ago
The level of structure looks to be okay, But not enough for me to want to get involved. We'll see how the markets look next week but from experience I don't expect anything that will interest me at this level. I'll just have to keep waiting on this pair.
Reply
DanLaffas Akil_Stokes
2 years ago
Cool beans. Thanks Akil.
Reply
snapshot


Hey Akil, I have one question, Which line on this chart would you consider your resistance/support? Reason Is, how would you classify that? As in a break re test or Simply a test of structure?
Reply
moneymaking daniel.garnier.10
2 years ago
Hi, I believe Akil will not be available this whole week. He announced it in his youtube video on his youtube channel. As far as I know, the bottom line should be your support, if current market price is above it. For the top line, I don't really see any key levels to call it a resistance. So for the top line, I would not call it a resistance. I hope this helps. :)
Reply
daniel.garnier.10 moneymaking
2 years ago
snapshot


Hey brother, Thanks for the reply, Heres the points highlighted. Whats your view?
Reply
moneymaking daniel.garnier.10
2 years ago
The main thing to keep in mind is that, when looking for support and resistance levels, you want to make sure that the market moved quiet a lot from that level; in order for it to be significant. Second, thing to keep in mind is from what time frame were the support/resistance levels drawn from. As we go to higher-time frame, support/resistance levels are more reliable. The points you marked, do hold some value, but the time-frame is not that great. The market has moved up and down between those key levels, thus making them irrelevant. Hope this helps!!
Reply
Akil_Stokes TOP daniel.garnier.10
2 years ago
I look at structure as being a zone, so both would be a part of that zone
+1 Reply
moneymaking Akil_Stokes
2 years ago
Hey Akil, I totally agree. The market might not stop at a specific level, but it will stop at a zone. I thought you might not be available this week, as you told us in your youtube video :)
+1 Reply
daniel.garnier.10 moneymaking
2 years ago
snapshot


well the market did its thing at that level lol. The reason i asked is that, i dont know if that wouldve been sonsidered a break above close above or just a retest
Reply
moneymaking daniel.garnier.10
2 years ago
Yes, in the future you can call the upper line resistance, since the magnitude of the downside move we got was very large and we also saw many candles with long wick at that level but they all closed below the upper line. So ya, I would call it a retest of the upper line, since we did not break above and close above the upper line. Hope this helps :)
Reply
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