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...
I have two levels on my radar looking for long entries on the EURUSD. The first is our current level of previous structure where the RSI has already dipped into oversold territory and the second is beneath that near the 1.1150 level. After a heavy week of training over the past 7 days, I'm excited to flip the focus back to "Trading" and hopefully I can make up...
Bullish Advanced Bat Formation on the DAX Video (19:00) www.youtube.com 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)
This pair has been heavy on our radar in both the London & New York Live Trading Rooms, since breaking out of the descending triangle (daily chart) last week. As we continue to break previous levels of structure support & create New Structure Lows (NSL) I'm going to continue looking for areas in which price action can pull back into, so that I can hop on the...
With GOLD putting in a HHHC I would now look for a continuation to the upside. IF price is going to continue higher THEN then next stopping point I would predict is our previous level of structure looking left. As always there are 2 ways that price can reach that level. 1) It goes straight there or 2) we see some profit taking, causing a pullback into the...
My trading buddy Phillip just brought this Bearish Cypher on Gold to my attention and although it looks as if price is rolling over off the "D" completion. Those looking for a secondary change for entry should keep there eyes out for a retest of the double top providing you with a bearish 2618 opportunity. If you're unfamiliar with the 2618 trading strategy,...
I'm currently long this pair (1.2950) on an "at Market" Bullish Cypher Formation, but looking ahead, we also have an advanced Gartley Formation which would complete if price were to push lower. Akil Stokes Chief Currency Analyst & Head Trading Coach www.TradeEmpowered.com -The Premier Online Trading Education Company YouTube goo.gl Facebook: goo.gl Twitter:...
Coming off back-to-back winners on a Bullish Cypher & Bearish Gartley, the $EURUSD is now providing us with another long opportunity in the form of an Advanced Cypher Formation. Unfortunately (unless we some some movement overnight) I doubt that I'll get an opportunity to take full advantage of this opportunity due to tomorrows Jobs numbers. Below is a link to...
Yesterday a posted a chart showing some analysis that I did on the $EURUSD trying to predict the next shorting opportunity. Although price action reached my killzone, it didn't rally high enough for me to get short. Later in the day the market completed a "pain free" bullish Cypher formation, and the ensuing rally has provided me with another opportunity to look...
Tough day for the GBP, and the weakness on this particular pair has inched price action towards 2 potential Cypher formations. More so than most of the other major pairs, it's important that you measure out your risk prior to setting your limit orders. For example, for the smaller cypher completion the "X" leg (which is where stops need to be beyond) are over...
Interesting setup here on the $EURUSD. Structurally speaking I don't have a level that I'm that in love with, however, we do have a Killzone that features some Fibonacci confluence as well as a one to one measured move. What's interesting is that the potential ab=cd formation (red lines) would also line up with an equal measured move from our previous retracement...
Looking at a double top at previous structure resistance here on the EURUSD to continue our TCT on this pair. We've also had the RSI go overbought on the initial test while showing divergence on the second test. We've been watching for this level all week in the Live Room and Jason Stapleton just added it to his radar as well. So Syndicate members, make sure you...
I've got a few pairs on my radar this morning heading into our Live Trading Session and the $USDCAD is one of them looking at this rising wedge iinto fibonacci confluence and previous structure resistance. Other include $EURJPY & $AUDUSD while I still have current trades in progress on $EURUSD & $NZDUSD Good luck in your trading this week gang. Akil...
I'm still involved in a $EURUSD short from last week, so I'm secretly wishing that this doesn't complete. But IF we break & close above previous structure THEN my next shorting opportunity on the $EURUSD will be a Bearish Advanced Bat Formation completing at a previous level of structure. (Look Left, Structure Leaves Clues) I've gotten a lot of new followers...
A potential bullish advanced Butterfly & Gartley Formation setting up on the EURJPY 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)
Traditionally there are 3 ways to trade a breakout all depending on your level of aggression as a trader. The before the breakout and actual break has already completed which means waiting for the retest is the only option left for those looking to get involved. I'm saving it for my Weekend Review, but I've been recording the analysis of this trade as well for...
Hey traders! As you know I like to work on my craft my scrolling through a few pairs that are outside of my trading portfolio and practice my chart reading and predictive analysis. Her eon the CADJPY 1 hour I would a potential trend continuation setup as price as recently created new structure lows and has started to retrace back into a previous level of support...
While the EURJPY has about 4 Gartley formations on the horizon, the GBPJPY is nice and simple with a single advanced bat formation set for completion at the 161.70's level. Make sure this trade meets your risk profile as the stop may be larger than it seems because of the pairs ATR. Also here's a link to the periscope video that I did this afternoon for the FOMC...