Potential Advanced Bat Formation setting up on the NZDUSD which would complete close to the 72 cents even handle.
Higher timeframe analysis on this pair causes me to predict a bearish Continuation down to our lower level of structure, so this would be an opportunity where the trader may want to consider looking for extended targets.
We had a pullback of our first corrective wave price rejected @ the .50% retracement level. Price failed to retest that support level @.73810 signaling a change in momentum. We have a break of the lower channel and price is pushing toward an ABCD correction pattern or headed to the .618 of the whole wave count. Nice setup to watch going into next week.
Thanks
AUDCAD completed a nice Gartley pattern at the .95000 area, dropped a bit lower into an inverse head & shoulders pattern which gave us the push up. Its important to note the inverse pattern and how it played the 1.272 level. Now we have another Head & Shoulders setup @ the .98500 area. I will have more interest in the sell once we get a BREAK AND RETEST OF THE...
We started watching this towards the end of yesterday's Live Room session and now we're at the point where we can start preparing ourselves on IF, WHEN & HOW to get involved in this potential bearish 26-18 Trade.
(2618 Training Video goo.gl)
Aside from that I just got long $EURUSD as well this morning, but the chart would literally be a black chart, which isn't...
Despite an inverse reaction to yesterday's FOMC minutes, I'm still looking to be bearish the USD as we anticipate a rate hike in December. Being a technical trader, my fundamental views won't affect what opportunities I take, but it can beneficial when they both line up on the same side (for those of you who remember the USDCAD trades over the summer).
Anyways,...
Following up on yesterday’s EURUSD analysis, the market reached my killzone and we saw a slight bullish bounce as previous resistance turned into support. We have now made our way back down into that zone, but this time the ebbs and flows of price action have set up a potential advanced pattern in the form of a bullish bat.
If you’re a Syndicate member, check...
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...
