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Akil_stokes

USD/CAD Stopped outAlthough its been busy in USD/CAD the past few weeks i haven't had much success, but that is OK because i am taking every trade that is according to my strategy. If this was years ago i would have giving up and though my strategy was not working and i would look for a new one Since then i have hired a trading coach and e taught my to think in probabilities and how to back test my strategy and that is what i have been doing Losses are a part of the game but if your strategy like mine over 2 years has a win % of 55 and you are keeping a 1:2 risk/reward then yo will be just fine
Short
by FXjoey90
AUDUSD(DAILY): POSSIBLE UPTREND MOMENTUMOverview: We are presently on all-time major support on 0.70800 (Buyers' Zone) and it appears that price is finding it difficult to breakthrough hence a possible uptrend rally is imminent. This can also be confirmed with the present character of price not willing to continue the downward channel ABCD trend as you can see price not settling in comfortable at 0.67480 (on 3rd of Jan '19) as Buyers were quick to push price up to close @ 0.70050. Following this, we can see price bouncing off the support of the channel EFGH confirming the formation of an upward channel. However, there are two ways to view the price action on this pair. A possible downtrend or uptrend depending on how price relate with Resistance Q (0.71390). Signal/Entry confirmation: We shall sell if price rejects the resistance Q @ 0.71510 significantly (i.e. a bearish engulfing candle cutting through the major support @ 0.70800) which doesn't seem likely with the present look of things. However, if price breaks the Resistance Q and the resistance @ 0.71510 simultaneously to the upside with an engulfing bullish candle; we shall wait for a retest on Resistance Q to join the rally up. Uptrend Speculation: Potential TP @ 0.75260 (385pips) and SL @ 0.70340 (105pips) Downtrend Speculation(appears to be unlikely): Potential TP @ 0.68170 (445pips) and SL @ 0.72240(135pips)
Long
by darcsherry
GOLD(DAILY): UPTREND CONTINUATIONOverview: Price has broken through the flag pattern formation to the upside indicating an uptrend continuation. The channel EFGH (upward range in green) emphasizes a channel continuation to the upside as well. Note that price was unable to break the hidden range ABCD the last time it was there (15th May 2018). Now it is back into this range 9 months after with a potential to break it to the upside. Signal/Entry confirmation: We wait for a significant break through the major resistance @ 1320.00 for precise entry to join the rally up. Speculation: Using Fib Ext at QRS a maximum TP projection falls on 1365 (Fib Ext 1.272). Potential TP @ 1365.00 (440pips) and SL @ 1303.00 (190pips)
FX:XAUUSDLong
by darcsherry
EURGBP - Consolidation Lead to Expansion The EURGBP is currently in a state of sideways movement which is called consolidation. Consolidation leads to expansion, so as i analyze this price chart they question that I want to ask myself is IF Price action breakouts out to the ___ side THEN where is it likely to continue to. Doing so will allow me to see if there is enough potential profit (with limited risk of course) to create a trading opportunity. This pattern formation is called a bearish flag and it traditionally breaks out to the downside. However, because the consolidation occurs at a previous level of structure, I's fair game either way in my opinion. Akil "Today is the start of our busy news cycle. Be safe out there traders!"
by Akil_Stokes
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