The right shoulder is not complete yet but I expect it to be a double top before it moves to 1.08234 which is a neckline area which coincide with the daily S2 support and Fibonacci extension of 1.414. On the way down to this support ,I expect a bounce at the 1.8077 - 1.8084 area before a short lived rally to the daily pivot of 1.0912 and after which I expect it to...
I didn't plan on doing any analysis today but one of my training course clients shot this over the chat and well...can't pass up on a valid Cypher pattern. Here's to 2016, let's see I can pick up right where I left off. Akil Stokes Chief Currency Analyst & Head Trading Coach www.TradeEmpowered.com
A confluence of Fibonacci and support line around a harmonic pattern spells a long opportunity. The price may try to reach a Fibonacci level of 127.2% at 85.76 but fail since it is seriously oversold. For those who can't wait for the formation to complete as indicated on the chart, wait for at least 87.5 to break set stop a few pips below 85.76
I am not a long term trader however it is often good to know the prevailing market bias so that we don't make huge short term projections against the prevailing market bias. When you take a short position in 2016 it would be a good thing to be conservative with your targets as the EURUSD is going up. Once the 1.1059 break happens I see an area of resistance at...
Hey traders, obviously this is not a time that you want to be trading, but i did want to share 2 things with you guys. 1) Two potential advanced patterns setting up here on the EURUSD inside of our current sideways movement and... 2) The link to the year ending Question & Answer session that Charles Miles, Jason Graystone & myself did this past Monday....
Very symmetric cypher pattern completing at 78,6% Retracement as shown. Consider your Risk before taking this trade. Targets are 38,6% and 61,8% Retracements from C-D Good trading.-Felix
Hello Traders, doing my weekend market analysis before market open I've found a nice potential bearish bat pattern on the 4h chart which perfectly lines up with the 1.618% Fibonacci inversion. Stops and Targets as shown. -Have a great last trading week before christmas. Felix
A few days ago I shared an idea looking at the USDCAD predicting that price action has an opportunity to go as far as $1.40 before hitting any significant resistance. On that post I was looking at 2 levels, a main potential reversal zone and a smaller potential reversal zone in which I had an aggressive reason for entry. Well, price action just missed my entry...
USDCAD has been a pair that I've had my sights on for a while now. After clearing our previous level of resistance I see nothing in the way of $1.40. My optimal reversal zone starts a little bit lower around the 1.3420 level but any chance I have to get long, i'm going to take and will be certainly keeping a portion of my position on for the bigger potential move...
This is a perfect example of nice harmonics at play. We've got a potential bearish bat pattern lining up at the FIB 1.618 Inversion and the 61.8% Retracement of the previous downswing on the higher timeframe. TGT's as shown. Good trading. -Felix
In this case, two potential bullish pattern lining up to give us a reason for entry. Stops have to go below X. Targets are 38,2% and 61,8% from C-D leg. Make sure it meets your personal rules for entry. Good trading. -Felix
So I will be looking for the zone ( green box ) if we get to it on Monday. I do not trade the butterfly on its own but i will use it as my Entry technique. We have a butterfly with the ABCD and some Fib clusters running into my Support area or Zone so i will be keeping an eye out. This is an example on how to choose your entry if you have your zone but you need a...
Continuing on last nights GBPUSD discussion we now have both a potential bullish Cypher and bullish gartley pattern setting up at our previous level of resistance turned support. Akil Stokes Chief Currency Analyst & Trading Coach www.TradeEmpowered.com Make sure you head over to youtube (search "Akil Stokes") and check out my most recent Weekend Review...
After a previous new strc low we saw some consolidation at previous structure. Now looking to short via Pattern Formation. Make sure you take the right action according to your personal Risk/Reward rules. Good trading. -Felix
The analysis from last night paid of. Now price completed point C of the Bat Pattern. Completion Point D, which would be our sell spot, perfectly lines up in previous str. resistance. Based on price action it is still within the recent trend. Stops and Targets as shown. Good trading. -Felix
We don't talk about this too much in outside of the 12WT because many traders have a hard enough time wrapping their heads around regular divergence, but here's a crystal clear example of the "Hidden Divergence" that some of you have heard me mention before. Akil Stokes Chief Currency Analyst & Trading Coach www.TradeEmpowered.com
A lot of potentials on the radar for tonight/tomorrow, one of which being a potential bullish Gartley pattern on the EURUSD. Akil Stokes Chief Currency Analyst & Trading Coach www.TradeEmpowered.com
Consolidation often breeds harmonic patterns & that's exactly what we're seeing here on the EURJPY hourly chart. Now we're still holding a partial position on yesterday's bullish bat pattern and if price action were to push up to our second targets that would give us the opportunity to put in an SAR and get involved in the bearish one that looks to be forming as...