Gold looks like its setting up for a bullish breakout. Targets on screen. Trade with caution! We all know what GOLD can do!
Here's a video of the breakdown we performed on the EURUSD in this morning's Live Trading Room www.youtube.com If you're interested in trading with me Live, check out our FREE 1 week trial. See you in the room! tradeempowered.com Akil Stokes Chief Currency Analyst www.TradeEmpowered.com
USDCAD has provided several excellent trading opportunities over the last couple of weeks. It continues to do so for us as we have recently this week completed drawing a head and shoulders pattern. These patterns are typically a sign of a reversal, in order for me to trade them I must see them completed in not only a timely fashion, but also visually and...
USDCHF saw a breach of a key resistance level during Monday's trading hours that gives rise to another trading opportunity. Base picture above shows the Daily chart and a closed candle outside of a wedge formation. 2 Ways to trade - Depending on your own personal style of trading there are 2 recommended ways to approach this set up. Pending Buy Stop: .9840 ...
Looking at a potential Bullish Cypher Pattern here on the $USDJPY. Normally I would tell you that this particular pattern is coming in at a nice level of previous structure support, but with the Yen being trapped within this consolidation area since late August, I don’t think it makes much of a difference. If you didn’t get a chance to hear is yesterday check...
Wanted to share with you one of the trades I got involved in after yesterday’s ECB reaction. It’s a bullish bat pattern on the EURJPY which is now offering a slightly better entry. Just my opinion of course but I think the best place for stops is beneath the 1.3300 even handled psychological number. Yes it opens you up to a little more risk, but as we saw with...
On FX:USDJPY , the market is going upward on these 1H bars. It looks, the USDJPY is finishing its correction (retracement) and we have a new impulse leg to start. The price is close to previous structure low at 120.21, which is the X leg of this Gartley. This gives us an opportunity to go long and lock some profits. T1 - 38.2% T2 -...
Although NZDCAD has not completed a technically valid Gartley pattern since the C point has exceeded its .886 conventional limit, the pair has still found support in the .786XA area. In addition to this key retracement level, there is confluence in this area between 1.272AB=CD and the 1.272 projection of BC. To add to the bullish bias, a missed monthly pivot...
EURCHF has completed a possible ending diagonal and has made a reversal in a confluent PRZ. Wolfe Wave theory defines the sweet zone, or the area of a probable reversal, as the area between 1-3 and the 2-4 parallel extension from point 3. Similarly, EW theory suggests that wave 5 will often overshoot in an ending diagonal which may be followed by a swift and...
Hi, please find my thoughts on doing reversal trades. This is the pattern that i am looking for when doing reversals!
Coming off a massive week in the Syndicate it’s somewhat refreshing to have only taken a single trade this week. Well two if you count the AUDUSD Bull bat that just filled a few hours ago (60min). Either way a slow week often means that there are a lot of potential patterns going through there setup legs and the EURUSD is a prime example. Three potential...
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Finally filled short on the bearish bat pattern that we’ve been waiting for on the EURUSD. We’ve got a small rising wedge with bearish divergence on the RSI heading into that level which is a plus, but at the end of the day the pattern is the pattern is the pattern. We’ve been on a heater as of late, hopefully we can keep things rolling with the Euro. Akil...
As mentioned in this week’s video (link below), the Euro has been a great pair for me over the past month or so and has helped me greatly in finally breaking my September Curse. As price action breaks to the upside I’m preparing for my next short in the form of a potential bearish Bat Pattern. The patterns prior to the bat setup are all described in the video...
Patterns can be failed very unexpectedly. Patient is the key of success. Open your trad on a strong trend. Later I will explain about how to adjust SL and TP. I will also explain how to get reversal signal and have more confidence on your decision. It's all about Risk to Rewards. Get yourself mentally ready and deal for long term instead of amateurish...
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