In yesterday's interview/webinar I got asked the question about my outlook on Bitcoin. At the time I responded by saying that all I see is consolidation and didn't have a real prediction to make. (Here's a link to the recorded webinar if you missed it www.youtube.com)
As I look at the chart today, although we're still consolidating, the candlesticks are telling...
I wanted to hold this for my webinar with Tradingview today, but it looks like we're already starting to move so I'll give it a share as well. By the way if you haven't registered here's the link blog.tradingview.com
Live Room members, if you remember last week we talked a lot about waiting for opportunities where the risk reward is heavily in our favor,...
We've had a hell of a ride as of late on the AUDCAD. Through some difficult pattern trading weeks this pair has been the one keeping my head above water. We now have yet another Cypher pattern that just completed minutes ago.
In all honestly, I'm fully expecting a loser on this one. Why? Well it's just the numbers. Even with the Cypher having a completion rate...
Flag patterns are one of the many simple patterns that I used to trade before I was a consistently profitable trader. Like many of the strategies that I used back then, I assumed that flags didn't work because i couldn't make profit off of them. After realizing that it was ME and not MY STRATEGY that had the problem, I find myself implementing a lot of what I used...
I got asked the other day about Bitcoin and what I thought about recent price action. When looking at the timeframe all that comes to mind is consolidation and bearish. As we've seen on the AUDCAD over the past few weeks (as it's nailed 4 straight cyphers) consolidation breeds patterns.
I see 2 potential patterns here on BTCUSD the first being a bearish bat...
It's been a rough week for the Dollar and an expected slowdown in GDP this morning will most likely keep the ball rolling in that same direction. So SELL SELL SELL! Actually who am I kidding? I have no idea what's in store, and neither do you. By now you know how I feel about fundamentals and if you’ve consistently traded the markets over any period of time then...
Hey traders the NZDUSD has offered us an excellent 2618 opportunity and I wanted to take a minute to show you guys how I use the Fibonacci tools to break down a potential reversal zone and really dial in on where i want to place the trade at. Here's a link to a short video i did this morning on this pair. tradeempowered.com
Akil Stokes
Chief Currency Analyst...
Hey gang! A we've been waiting for some bigger moves on this pair for a while now but have seen nothing but sideways action. Fortunately for pattern traders sideways action isn't always a bad thing as consolidation breeds pattern opportunities.
The pattern we have on this pair is going to be a bullish Gartley pattern completing down at the 1.9328s level. Minimum...
back to back cypher pattern completions on the AUDCAD hourly Timeframe. Stops need to be above the X leg beyond 9555's with initial targets resting around 9493's. be aware of that 9500 psychological number though.
Akil
A lot going on here on the GBPJPY so instead of writing a long explanation (plus I need sleep) here's a video explaining just exactly what I'm looking at. www.youtube.com
Akil Stokes
Coming off a pain free trade on this pair last night our once bearish Gartley pattern's next step could be to complete the C to D leg of a bullish Cypher. Again, EURAUD typically has a pretty large ATR so you want to double check you're risk profile on this one, but aside from that "The Pattern Is The Pattern Is The Pattern."
Laid out on the chart are initial...
A Gtartley Pattern completion with a double bottom and now 2618 opportunity on the lower time frame. I wouldn't trade it was a gartley and attempt to use 2618 stops, but you can certainly look to protect profit or shoot for extended targets based off of the higher timeframe pattern including the potential bearish cypher that still exists
Bear Cypher pattern completion @ 119.10. Minimum stops would need to be above 119.35's. Key word minimum. Technically speaking we've been seeing a series of NSH's so one would think that this previous OR would be a good source of resistance. But it's also trading we''re talking about so you never know.
Akil Stokes
Chief Currency Analyst...
What we are looking for?
Looking for break no matter on which way but main trend is still Bullish and we havent hit resistance zone yet! So both sides are open
Entry style:
I would suggest after a trendline break entering with D1 or H4 123.
Trade management
Split trade into 3 parts. Trail last position as long as possible! RR 1 = 1 : 1.......RR2 = 1 :...
1) Strong and respected structure at the $1.08416 level. This has been respected 5 times as outlined in the green circles.
2) Using Fibonacci retracement tool from the $1.10329 to the $1.052 leg we can see a 0.382 confluence with fibonacci level which lies on the $1.08416 structure level and can see that is has been previously respected as well.
3) Using this...
