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
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!!
Akil_Stokes
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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.
moneymaking
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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!!
UnknownUnicorn168204
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AKIL! You're the best!
DanLaffas
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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.
Akil_Stokes
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not bad at all, i do think we're going to see a fall. At least based off of the HTFs
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.
Akil_Stokes
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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
IvanLabrie
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Indeed, and this HAS to come up so I can get a fill :p
Good luck to us all Akil! ;)
Akil_Stokes
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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