Akil_Stokes

USDCAD: Sitting at a Decision Point

FX:USDCAD   U.S. Dollar/Canadian Dollar
2 months ago
After holding higher timerframe resistance the USDCAD             has made 220+ pip move to the downside and has now found previous structure support.

I like to call this area a "decision point" when doing my analysis because a few trading opportunities are offered at this level depending on how price reacts.

1) IF support holds THEN we have a potential buying opportunity.

2) IF support fails THEN we have a potential selling opportunity as it turns to resistance

2) IF Support holds and retraces back towards the 1.3130's level THEN we also have a potential selling opportunity

These are the type of pairs that I put at the very top of my watch list as potential opportunities are right around the corner
2 months ago
Comment: Eyes locked, looking for a potential short (option 2)
2 months ago
Comment: Option (1st) 2...I just saw that I post multiple "2)'s"
2 months ago
Comment: Stalking the 5 Range Bar Chart for entries. Currently looking at 1.3034's to get short
2 months ago
Comment: Negative Canadian news this morning has pushed the USDCAD up to our Killzone. Still looking for entry reasons to get short
Akil Stokes -Head FOREX Trading Coach at Trade Empowered
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lukeboland PRO
2 months ago
Akil, there's a bullish bat with D completion at 1.30550 if you are looking for an extra reason to go long at this level.
+2 Reply
ravegten lukeboland
2 months ago
I was gonna type the same Luke ;)
+2 Reply
Akil_Stokes TOP ravegten
2 months ago
Good spot!
Reply
Akil_Stokes TOP lukeboland
2 months ago
It's not one that's on my radar, but that's an excellent entry reason to get involved. Well done Luke!
+1 Reply
YoussefRazak
2 months ago
Structure leaves clues right .I was short from 1.32170. Just exited. But with oil rallying and dollar weakness it might keep coming down.
+1 Reply
Akil_Stokes TOP YoussefRazak
2 months ago
Awesome. Well done on your short!
Reply
YoussefRazak
2 months ago
snapshot
... Im short only
+1 Reply
Akil_Stokes TOP YoussefRazak
2 months ago
Nice!
Reply
YoussefRazak
2 months ago
snapshot
. This looks better
+1 Reply
Akil_Stokes TOP YoussefRazak
2 months ago
Thanks for the share
Reply
BrandonWoodard
2 months ago
Bat on 240?
+1 Reply
BrandonWoodard BrandonWoodard
2 months ago
Bull bat
Reply
Akil_Stokes TOP BrandonWoodard
2 months ago
Nothing that's on my radar, but I know a few traders that have their eyes on it
Reply
hobss2004
2 months ago
Hi AKil, I think it will rally up to 1.38125
+1 Reply
Akil_Stokes TOP hobss2004
2 months ago
Nice, thanks for sharing your ouitlook
Reply
neginho hobss2004
2 months ago
1.38125?
Reply
neginho neginho
2 months ago
why so optimistic. it's not been that this year.
Reply
SpadeFX PRO neginho
2 months ago
Must be a typo
Reply
SpadeFX PRO SpadeFX
2 months ago
Apparently, impulse, 3-wave correction and on the way to the top..
Reply
jnobile21
2 months ago
It's back up, stopped me out for a small loss. Looking bullish now
+1 Reply
Akil_Stokes TOP jnobile21
2 months ago
I'm sorry to hear that. Hopefully you can still mark it down as a "good" trade
Reply
jnobile21 Akil_Stokes
2 months ago
Absolutely a good trade. Small risk to it and had the potential to be a good 100+ pips compared to a 12 pip loss. I'll take that trade any day. Thanks for the heads up on that one. Keep it up Akil!
+1 Reply
Akil_Stokes TOP jnobile21
2 months ago
No problem and fantastic risk/reward you were able to create. All day and twice on Sunday's!
+1 Reply
Kareem
2 months ago
Hey Akil, you said the Bat on the 240 was not on your radar was that because it was not a valid one for you ratio wise or because of structure? (you maybe wanted confirmation or see how price reacts at the decision point)
+1 Reply
Akil_Stokes TOP Kareem
2 months ago
No, I just didn't see a Bat formation
Reply
Akil_Stokes TOP Kareem
2 months ago
I can see what people were looking at but it wasn't one for me
Reply
CortesTeam PRO
2 months ago
Besides being in the short killzone, what else do you wait for to get involved ??????
+1 Reply
Akil_Stokes TOP CortesTeam
2 months ago
Once price action is in a killzone I then look for an entry reason. this can be as aggressive as an at market order, to as conservative as a 2618 depending on the situation
Reply
Jorahu
2 months ago
Perfect short akil, it's a bear :-)
+1 Reply
Akil_Stokes TOP Jorahu
2 months ago
Awesome!
Reply
Niverto
2 months ago
snapshot


Short on supply zone (Daily IPDE with entry on lower time frame)
+1 Reply
Akil_Stokes TOP Niverto
2 months ago
Nice, good luck with the trade
Reply
Niverto Akil_Stokes
2 months ago
Thanks Akil, I have applied pro trader course principle with the supply and demand zone making it a good package.
+1 Reply
Akil_Stokes TOP Niverto
2 months ago
No problem!
Reply
derekvela
2 months ago
bearish bat on the 15 m w/ expanding triangle pattern completing the bearish bat.

snapshot
+1 Reply
Akil_Stokes TOP derekvela
2 months ago
Thanks for the share & best of luck in your trade!
Reply
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