NZDUSD: Potential Bearish Advanced Bat FormationAs 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 Bat Formation on the NZDUSD.
Akil Stokes
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AUDJPY: Advanced Bat Formation & Double TopAs 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 Stokes
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EURGBP: Potential Bearish Advanced Gartley Formation 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 minute mark www.youtube.com
Akil Stokes
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AUDJPY: 2618 & Potential Advanced Pattern Formation 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 data has the "B" leg falling just shy of the 61.8 retracement which is why I qualify it as a potential Bat Formation & not a Gartley Formation.
Also if you haven't done so make sure you check out my latest article for FX Trader magazine titled "Trade Like A Business: two Steps to help increase your trading productivity" starting on page 79.
Have a great day...or night depending on where you're located!
Akil Stokes
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GBPJPY: A Handful of Potential Advanced Gartley FormationsJust 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
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Nike: Potential Bullish Gartley Formation (Just Do It)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
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$EURUSD: Potential Bullish Bat Formation Potential Bullish Bat Formation on the $EURUSD
Akil Stokes
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EURUSD: Two Levels on my Radar Part IVSorry 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 me an opportunity to get long at 1.1132's and once again proved how important having a community of traders to work with each day is. Many will assume that everyone in the Live Room is a novice trader, which isn't true. We do have plenty of them, but we also have some very experienced traders in the room as well which allow us all to have extra eyes on the market.
Now to pass out for a while (the legs are on FIRE!)
Akil Stokes
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EURUSD: Two Levels on my Radar Part IIIThe 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 Syndicate video. Very Sneaky!)
In today's day trading session I'll be looking for yet another bearish TCT opportunity in anticipation of us reaching our lower levels of structure support as there looks to be about a 40 pip range which is more than enough for the lower time frames.
Swing trading wise, I'm still looking to buy starting at our Green box, but not aggressively so I'll have to wait for price action to dictate my decision making as I watch it test that level.
Akil Stokes
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EURAUD: Looking for a Bearish RunIf 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 anticipation of the level mentioned above.
Akil Stokes
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GER30: Bullish Advanced Gartley FormationJust 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 advanced pattern formation on this pair was busted out, but it's important not to let that emotionally effect you for this one. Remember there are 4 types of trades "Good, Bad, Profitable & non profitable"
Akil Stokes
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EURUSD: Two Levels on my RadarI 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 for some of the big losses that the market handed me.
But as I tell the traders I work with, there's no need to force it. Good opportunities come to those who wait, and to those who follow their plans. Good luck this week traders!!!
Akil Stokes
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GER30: Bullish Advanced Bat FormationBullish Advanced Bat Formation on the DAX
Video (19:00) www.youtube.com
Akil Stokes
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GOLD: Bearish Cypher Formation with 2618 Possibility 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, there's a free video training on our website (below)
Akil Stokes
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USDCAD: Potential Gartley Formation 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
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$EURUSD: Bull Cypher Formation (Can We Go 3 for 3?)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 a video drawing out this potential pattern formation (19:16) along with a discussion about drawdowns and money manipulation.
www.youtube.com
Akil Stokes
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EURUSD: Next Potential Shorts Part IIYesterday 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 for potential shorts in my original killzone with the difference being that this time I know I have an aggressive reason to get short due to the potential Bearish Advanced Gartley Formation.
Akil Stokes
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EURUSD: Next Potential Shorts 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 (pink lines)
Does this mean a sell at that level? NO, i'd prefer a move close to previous structure highs at the $1.12 even handle, but it's certainly something that we'll be keeping an eye on as we venture down to the lower timeframes in today's Live Trading Room.
I've recently been asked by FX Trader Magazine to write another article for them and I wanted you guys to pick the topic. If you have an idea please leave a comment under this video and I'll be choosing 3 that you can vote on by Thursday. buff.ly
Akil Stokes
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$EURUSD: Potential Bearish Advanced Bat Formation 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 since this originally came out, but if you haven't read it already here's a link to an article that I recently wrote for Forex Trader Magazine titled "Take Control of Your Trading" Feedback as welcomed as I'm rather new to the writing world (aside from personal blogging). I had a lot of fun writing it and if the you guys like my style, I'd love to create some more content
content.yudu.com
Akil Stokes
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USDJPY: Bull Pattern In Bear Market (Part II)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 those who learn better from seeing and not just reading. I'm not sure if I'm going to use it or not (it all depends on what lessons we discuss in the live Trading Room this week) but keep an eye out for it on my YouTube page.
Akil Stokes
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GBPJPY: Potential Bearish Advanced Bat FormationWhile 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 minutes were releases discussing trading and news events. it will expire on Thursday at 1pm (NY) and I won't be uploading it to youtube .
www.periscope.tv
Akil Stokes
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Silver: Potential Bullish Bat FormationPotential bullish Advanced Bat Formation on Silver, which may act as the "C" leg of a potential bearish advanced bat formation.
Akil Stokes
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