USDCAD: The Type of Consolidation Patterns I Like

FX:USDCAD   U.S. Dollar / Canadian Dollar
I want to start things off by saying I don't expect to see much action at all in the markets today ahead of this afternoons FOMC statement. However, I did want to follow up on the USDCAD             idea that I shared with you yesterday.

After creating a NSL             we are now retracing back into previous structure. I often explain to the traders I work with that I'm not a consolidation pattern trader (think flags, pennants , triangles, etc.) unless they occur inline with underlying analysis.

In this situation my analysis was looking short and the consolidation pattern happens to come into previous structure, so this is one that I would actually interest me.

Thanks for all of you that joined me on Youtube yesterday as I live streamed the first 30 minutes of my Live trading Room. The recording is up if you didn't catch it and I'm looking forward to seeing a lot of you in the room for your free week trial.

Good luck today traders and DON'T force anything as these slow markets can be very tempting for those lookign for action.

Akil Stokes
Chief Currency Analyst & Head Trading Coach
http://www.TradeEmpowered.com -The Premier             Online Trading Education Company
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Beautiful setup here based on structure.. Simple and powerful..! And it paid off.. Well done mate..!
Hello, thank you for sharing ur beautiful analysis.

Does ur friend Jason Have also an account here to follow him ?
+1 Reply
Jason Stapleton or Jason Graystone?
Thanks for replying.

Jason Stapleton
+1 Reply
He has an account on here however he no longer shares ideas
+1 Reply
Nice one Akil. I am looking for a buy opportunity if the price go further down into the consolidation area in the red box you made. the lower red box. Good luck!
+2 Reply
As am I. Hopefully we'll get a reason to buy
+1 Reply
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