Akil_Stokes

USDCAD: Potential Bullish Gartley & Bearish Bat Formations

FX:USDCAD   U.S. Dollar / Canadian Dollar
Talk about a great week of trading. (without jinxing) it we've been able to erase all of our summer drawdown & achieve new equity highs for the trading year (assuming we don't do anything dumb today).

With that being said I'm certainly taking a cautious approach to the markets & and ensuring that I don't get sucked into any type of overconfidence type of trades. (Think when Klay Thompson got hot against OKC & just started shooting from anywhere).

What we have on the charts above are 2 potential advanced pattern formations. A potential bullish Gartley & a potential bearish bat .

Also have you ever heard of the saying "You Can't Go Broke Taking Profits" Well if I released a video yesterday explaining why I think this statement is false. Along with some technical analysis on a USDJPY             trade that made up for the though loser that I posted here last week. Also a look at our Syndicate equity curve. Please check it out as it may give a little more insight on my trading process & philosophy.

https://www.youtube.com/watch?v=PMqpkcwsXdM

HAVE A GREAT WEEKEND!!

Akil Stokes
Chief Currency Analyst & Head Trading Coach
http://www.TradeEmpowered.com -The Premier Online Trading Education Company
Trade Empowered on YouTube https://goo.gl/IscNch

Comment: Keep an eye out for 8:30 as we have both USD & CAD GDP Releases
Trade active
Trade closed: stop reached: ...and there goes the undefeated week :-( Whelp, we new the losses would come, certainly expecting a few more to even out the win %

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Sorry Akil, but i'm sure you lost a CAD/JPY trade earlier in the week too but hey, still a great week. I wish i could string a few like that together.
+1 Reply
I don't trade CAD/JPY so you must me mistaken. Was that a trade that Charles took in Warroom perhaps? I think he trades that pair
Reply
I only trade the one pattern on this pair... You know me and this pair have history coach haha
+1 Reply
Akil_Stokes PRO SmartTradingFX
Yup USDCAD=Stay Away right
+1 Reply
thecrackking Akil_Stokes
In case your interested in buying the USDCAD, please check my chart :)

Reply
TomPower thecrackking
I'm seeing a symmetrical triangles in my sleep come on guys
Reply
SmartTradingFX Akil_Stokes
You know it Sir
Reply
Nice looking trade setups; would love to see them play out in an environment free of volatile adjustments post-GDP.
+1 Reply
I agree, however, I can't complain because we had an inverse of this pattern formation the the GBPUSD that won. So if I'm going to accept those profits (from a news reaction) then I've got to accept the losses as well.
+1 Reply
But akil why did you enter the trade ? That drop was definitely caused by the GDP news and the move had strong bearish sentiment behind it. I am not saying i know more than you but just saying i would definitely not take a bullish signal right after an important and significant news release that stated the contrary. I might be wrong in my reasoning but that is what i would expect. Any comment ?
+1 Reply
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