We've recently had a break and close below a previous level of structure support here on the AUDUSD. We're now retesting our previous level of structure which will have me looking for shorting opportunities once i hit the lower time frames today. If we do get a reason for reversal I would look for a retest of our previous lows followed by an extension to our...
The GBPJPY has created a falling wedge pattern that is making it's way back down into a level of previous structure support. This will be an interesting decision point for the market to see how it reacts at the 1.44 psychological level. Akil
I spent the majority of the past few months being very bearish on the USDCAD, even up to a few weeks ago as we violated our previous structure lows. The market gave us no follow through, consolidated and has now given us a bullish rotation setup. The area in which i have on my radar is a retest of the previous structure highs that were recently created followed...
EURJPY was the simplest of the bunch this week as all we have is a potential bullish bat formation setting up on the 4hr/1hr. Overall i still have a bullish continaution bias on this pair as well. Akil
The Kiwi was the final pair that we discussed in today's video and this chart only partially does the trade justice since we're not able to look at the higher timeframe. But if you were to look on the daily chart you'll see that we've recently broken a key level of structure support and have now retraced back down into it forming a potential head and shoulders...
We had a very active advanced pattern trading day yesterday taking opportunities on the $USDJPY (Short) $NZDUSD (Long) $USDCAD (Short & $AUDCAD (Long). Today one of the trades on my radar is this potential bullish gartley formation on the $AUDUSD Akil Stokes
So the $EURAUD made us wait a little while for it, but we finally have a break and close above the neck line of our head & shoulders pattern. In my opinion I think that IF we end up getting another extension THEN we can potentially see moves to 1.4865's (where we have both a fibonacci extension and ab=cd pattern lining up) and then to 1.50's Link to the original...
last week we fired off a long opportunity here on the GBPUSD at the 1.3060's level looking to capture initial profits at a retest of the previous structure highs. Now that we've reached those highs, the market is going to offer us another "decision point" A break above close above at this decision point would tell me to expect another extension higher where...
I'm not an oil trader, but i recently got a question about this chart and well...why not share it!. What you're looking at is called a Bat Formation. If this potential advanced pattern were to complete, we would expect a bearish move after price reaches the upper killzone which is suggested by the purple box. Akil
Last week we took a look at a potential bullish Head & Shoulders pattern setting up on Gold. The market proceeded to fulfill that prediction so of course the question now is "What's Next?" COUNTERTREND TRADERS I would look for a push up into a next level of previous structure resistance as that looks to be the next place in which the buying pressure may run out...
The final opportunity discussed in this week's video was of a 2618 trade here on the AUDCAD. As usual the killzone for the 2618 technique is between the 61.8 Fibonacci retracement and the previous structure high. However in this particular case, I also have a secondary killzone on my radar which rest slightly lower then the higher zone that i'll be paying...
If you've been following my posts then you know that I've been paying close attention to the EURUSD & since the recent Higher High, Higher Close (H3C), my bias is towards looking for long opportunities. Based on a few recent conversations here on Trading View I think it's important to bring up the fact that there is a difference between having a bias and...
Gold/US Dollar is another pair that has broken a significant level of structure today completing a Head & Shoulders pattern by breaking the neck line. For me all signs point towards a move higher and there looks to be a lot of opportunity. Like the other pairs discussed today, I like to buy on dips, so a pullback to or into the neckline/right shoulder is the...
Like many other pairs today we've seen a violation of major structure thanks to the reaction of today's FOMC statement. This recent moves leads me to predict that the Euro will continue higher and therefore has me looking for trend continaution opportunitites. This morning we had a great dscussion about the dangers of being late to a trade and how it causes...
Today's $USD weakness has pushed the $USDCAD below previous structure lows, opening up the opportunity for yet another extension lower. I don't know what type of relief that we'll see with price (when do we ever KNOW what the market will do), but I will be eying up a few different levels for my next opportunity to get short over the upcoming days/weeks. Akil
After a pain free drop from yesterday's bearish Gartley Formation the EURAUD is now putting in a potential Bullish Cypher formation. HOWEVER it's extremely important that you draw this one out on your own charts. On my charts the pattern formation is INVALID due to the "B" leg, but many of my Live Room members had it valid on their charts which is why i wanted to...
The CADJPY is not a pair that's in my trading portfolio, but I just took a look at it for training purposes. A breakout from this level will offer a lot of potential movement to the upside and is certainly a pair that should be kept on the radar. Akil Stokes
So tonight I wanted to revisit a pair that we looked at this weekend, but first of all congrats to anybody that was able to catch all or part of the painless 100+ pip drop!! (RING THE REGISTER!) Now the question is what's next? and my answer may not be what you're expecting. Despite price pulling back into our previous level of structure, I still have a higher...