We have a few things happening here on the USDJPY. First off we've had the completion of a Bearish Advanced Bat Formation at 105.88. Because the required risk to involve myself in this trade is outside of my allowable range, i've involved myself using structure & price action. As we approach the pre-brexit highs, you'll notice that not only has the momentum...
As discussed in today's video, many of the pairs that I watch have been consolidating after the Brexit reaction, making for limited opportunities for longer timeframe traders. However, if we were to see a correction back to where the markets were trading before the vote, there is the potential for a handful of Advanced Pattern Formations including this Bearish...
As the AUDJPY works it's way up towards previous structure highs, it's also created the potential for a Bearish Advanced Bat Formation as well as a potential double top (With the RSI overbought/showing bearish divergence) Looking left on the Daily timeframe it's also at a previous level of structure adding more for those looking to build a case for entry. Akil...
After going overbought on the daily chart about a week ago the EURGBP has done nothing but consolidate & given us sideways movement. These ebbs and flows of price action have now set up the opportunity to take advantage of a bearish Advanced Gartley Formation completing at 0.8612 This pattern formation was also discussed in this week's FMP starting at the 12...
Just to follow up on the EURGBP trading idea that I shared a few days ago. I'm still looking for a pullback down to the 0.8400 level as being the optimal level for bulls. However, as price has evolved over the past few days we may also have a closer level as well between 0.8520's & 0.8450''s especially if you're a day/intraday trader looking at the lower...
As the market looks to retest the previous double bottom, we have a potential 2618 trade setting up starting at the 61.8 Fibonacci retracement level. IF price action rallies higher we may also have and Advanced Bat Formation setting up as well. Data is often different from broker to broker in the Forex market so please check YOUR price chart for this pair. My...
Just took a look at the GBPJPY in the Live Room & found a handful of potential advanced pattern formations on the lower timeframes including these 3 Gartley's. Akil Stokes Chief Currency Analyst & Head Trading Coach www.TradeEmpowered.com -The Premier Online Trading Education Company YouTube goo.gl Facebook: goo.gl Twitter: goo.gl @AkilStokesRTM...
Syndicate members there will be a video uploaded breaking down this trade shortly (I have to re-produce it), But what I'm looking for on the EURGBP is a Bullish trend continuation trade opportunity. The Red & Green boxes represent levels of structure in the market with Red being resistance & Green being Support. As you can see originally resistance held, but once...
Looking at long opportunities here on the GBPUSD as we retest the previous structure lows above the $1.31 price point. For you fibonacci lovers we also have confluence between the 1.272 extension & 1.618 inversion which you know is one of my favorite combinations. The reversal started a little before I got to my charts, so I'm not involved yet, but this will be...
Nike was in the news today with a few missed estimates so i decided to check it out and what do you know, we've got a potential bullish Gartley formation coming right back down into previous structure support. "Just Do It!" Akil Stokes Chief Currency Analyst & Head Trading Coach www.TradeEmpowered.com -The Premier Online Trading Education Company YouTube...
Potential Bullish Bat Formation on the $EURUSD Akil Stokes Chief Currency Analyst & Head Trading Coach www.TradeEmpowered.com -The Premier Online Trading Education Company YouTube goo.gl Facebook: goo.gl Twitter: goo.gl @AkilStokesRTM (Instagram, Periscope, Snap Chat & StockTwits)
I still think that we have room to push lower on the EURJPY so I'm eyeing up my next opportunity which may come between the 118.50's-119.50's level. We may have a chance to get long (in advanced of that area) from a head & shoulders pattern retest on the LTF's during our Live Trading day as well. Akil Stokes Chief Currency Analyst & Head Trading...
Sorry for the late update I got caught up in England v. Wales, our PPT Event & then a 5 mile run. But as earlier today (after just missing a nice short opportunity grr!) one of my Live Trading Room members pointed out a potential bullish Advanced Bat Formation on the 4 Hour Chart that completed at the exact level that I'd been eyeing up all week. This provided...
The Euro is still one of the main pairs on my trading radar as it has been all week. Although we've yet to reach the level where I have buying interest we have been able to take a few bearish day trades in anticipation. (If you missed my rant yesterday on the USD Bulls and the game they played during the FOMC yesterday make sure you check out yesterday's...
Head & Shoulders pattern on Chesapeake Energy. It's a "stay out of the market" type of day with the FOMC PRess Conference so I'm going through some of today's movers and practicing my technical analysis. Akil Stokes Chief Currency Analyst & Head Trading Coach www.TradeEmpowered.com -The Premier Online Trading Education Company YouTube goo.gl Facebook:...
If we end up getting a LLLC here on the EURAUD, my prediction for the next place that we'd see some buying pressure at is down at the 1.5050's-1.4950's level. As a buyer, that's where I would look next if I'm interested in trying to catch a pullback. If I'm a seller, then I'm looking for a retest of previous structure & a chance to hop on the downward move in...
Just wrapped up my nightly top down analysis and aside from my 3 open positions, there isn't much else that caught my attention on my trading portfolio. So as always I like to get some practice in by working through analysis on other pairs/markets. Looking here at the DAX we have a bullish Advanced Gartley Formation that has completed the "D" leg. The last...
If awake at the close of the 5am candle I would have jumped in the double bottom long. Fortunately (this time) I missed out on what looks like may be a failed test as we've broken (but not yet closed) below. This means all eyes are on the lower level of structure mentioned in yesterday's post around the 1.1160'd-1.1140's level. It would have been great if the...