AUDUSD: Bearish Cypher Pattern on the HourlyPotential Bearish Cypher Pattern on the Hourly Chart completing at 7184.
Akil Stokes
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GBPUSD: Potential Bearish CypherFollowing up on yesterday's idea, IF this market continues to rally (which is what we're hoping for) we're looking at a potential bearish cypher completing at the 1.46 even handle.
Akil Stokes
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GBPUSD: Potential Reversal Zone for TCT BullsPotential Bullish Trend Continuation trading opportunity on the GBPUSD. To create my potential reversal zone I've used a combination of structure, market harmonics and Fibonacci tools.
Also if you missed it live yesterday I posted a recording of our week 5 trading recap video on my youtube page.
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Good luck this week traders!
Akil Stokes
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EURUSD: Daily Bearish Bat Pattern Setting Up I initially thought that Thursday & Friday would be our breakout days this week but it looks like the party has started a little early. Setting up on the EURUSD daily chart we have a potential bearish bat pattern completion up at the 1.1393-1.1500 level.
I'm not a daily chart trader, but i will be looking intraday for an opportunity to hop on a retracement and see if I can ride the wave up to this level.
It's Thursday so makes sure that you're subscribed to my youtube page as you don't want to miss today's video release. We'll see how the day goes but we may be talking about this trade in more detail.
Akil Stokes
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EURJPY: Double Top Follow Up & TCT Opportunity Earlier in the week we looked at a short opportunity on the EURJPY. After a period of sideways movement the market have finally moved in our direction and is slowly inching towards targets. More importantly stops have now been rolled from an area that offered 100 pips of Risk, to the new worst case scenario being 85 pips of profits.
(GREAT FEELING WHEN YOU KNOW THAT IT'S A PROFITABLE TRADE NO MATTER WHAT)
In the Live Room today we'll be looking at a potential move back into our previous outside return which would give Trend Continuation/Following traders a chance to get involved in the final part of this short. 129.60's looks to be a decent level to expect some profit taking and some bullish pressure.
Have you seen my latest youtube video?
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AUDUSD: Potential Bull Gartley & Cypher Patterns on the 1 HourAfter catching a pain free 2 target winner on our Bear Cypher pattern from last nights video we're now seeing price continue to roll down setting up 2 new potential advanced pattern setups.
In Green is a potential Bullish Gartley pattern and in Blue is a potential Bullish Cypher Pattern.
Akil Stokes
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EURJPY: 4 Hour Potential Double Top and/or 2618For those looking to get short the EURJPY we have a potential double top and/or 2618 opportunity setting up. Looking left, price action has made its way back into a previous level of consolidation where the bulls were rejected and are now looking to test for a second time.
The two trading opportunities that exist at this level are a double top sell at the candle close, or a 2618 for conservative traders looking for proof of a hold and a retest.
We've got our morning Warroom meeting at 8:30 (NY) then I'm getting ready for an awesome training lesson this morning at 9am on position sizing and trend continuation trading. Good luck out there in the markets this week.
Akil Stokes
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www.TradeEmpowered.com -The Premier Online Trading Education Company
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GBPUSD: A Trend Continuation & Countertrend Idea (Video)Just a quick follow up from the trade I shared with you guys in last night's video looking at a trend continuation opportunity on GBPUSD. As the market established a double top overnight, counter trend traders will also have an opportunity to involve themselves in a 2618 trade as well.
Make sure you check out yesterday's video for an explanation of the TCT trade
"Statistics on Why Most Traders Fail" www.youtube.com
Akil Stokes
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EURJPY: Counter Trend & Trend Continuation Opportunities of 1HRAfter being stuck at the "D" completion point of a daily Bat pattern completion we've finally seen a break to the upside on this pair. We've not run into higher time frame (HTF) structure and I wouldn't be surprised if we saw some relief in price action.
This trade setups offers something for both counter trend and trend continuation traders. For the counter trend trader, "look left structure leaves clues" We also have bearish divergence between price action and the RSI. For the trend continuation trader we currently have Fibonacci ratio confluence lining up in our potential reversal zone (or as my Live Trading Room members like to call it our "A-Kill Zone")
It's THURSDAY so that means that my WEEKLY FOREX TRADING video will be out today. If you're not a subscriber make sure you head over to my youtube channel and do so. I don't have a fancy title yet but I'll be talking about a report that was conducted a few years ago giving statistical proof on WHY TRADERS FAIL.
Good luck out there today and do me a favor. GIVE THIS POST A LIKE, It takes less than a second ;-)
Akil Stokes
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USDCAD: The Type of Consolidation Patterns I LikeI want to start things off by saying I don't expect to see much action at all in the markets today ahead of this afternoons FOMC statement. However, I did want to follow up on the USDCAD idea that I shared with you yesterday.
After creating a NSL we are now retracing back into previous structure. I often explain to the traders I work with that I'm not a consolidation pattern trader (think flags, pennants, triangles, etc.) unless they occur inline with underlying analysis.
In this situation my analysis was looking short and the consolidation pattern happens to come into previous structure, so this is one that I would actually interest me.
Thanks for all of you that joined me on Youtube yesterday as I live streamed the first 30 minutes of my Live trading Room. The recording is up if you didn't catch it and I'm looking forward to seeing a lot of you in the room for your free week trial.
Good luck today traders and DON'T force anything as these slow markets can be very tempting for those lookign for action.
Akil Stokes
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USDCAD: Outlook on CAD (Live Trading Room Live Stream) USDCAD has been a frustrating pair for pattern traders, however it has been exceptional for trend following/continuation traders over the past few years.
What I'm looking for hear is a move back down to the $1.40-$1.38 level for another buying opportunity. I know, I know, that's a ways away, however because of that prediction it also sets up the opportunity to look for shorting opportunities in anticipation of that level.
Today in my live trading room we'll be breaking down this pair and seeing if any of those short opportunities exist on the lower time frame. You didn't hear it from me but I may be live streaming the first few minutes of today's Live Trading room so that you can see the analysis. Just head over to my Youtube page around 8:00am New York time.
Akil Stokes
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www.TradeEmpowered.com -The Premier Online Trading Education Company
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GBPUSD: The Next Look at GBPUSDNo to much on my radar today, but then again, most of my analysis for the week comes after the Monday New York close. I did get a few questions to follow up on my last post. i'm a little late but here are my thoughts on the GBPUSD.
If you remember last week we were keeping our eyes on a potential short opportunity as price action made it's way up to previous structure. Well after the market create a NSH that changed our analysis on the trend. I wouldn't be as bold to assume a full reversal due to the nature of the break and close that we had, but a retest of previous structure can certainly be on the table.
See you guys in War Room!
Akil Stokes
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GBPUSD: Structure Short Opportunity on the GBPUSD 1 HourSimilar to yesterday's $EURUSD trade, I'm simply looking at a potential shorting opportunity as price action works it way back towards previous structure resistance.
Akil Stokes
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EURUSD: Keeping My Eyes on This LevelLot's of movement today with the ECB Press Conference this morning. As we start to see some corrections in the markets, i'll be keeping a close eye on this level for another potential short on the EURUSD
Tonight's youtube video is up so make sure you check it out. youtu.be
Also if you haven't done so already make sure you register for tonight's "Cracking The Code" event!!
(Link will be under today's video) *Out of respect for Tradingview we're not supposed to spam our ideas with links to stuff like this. *
See you there!
Chief Currency Analyst & Head Trading Coach
www.TradeEmpowered,com -The Premier Online Trading Education Company
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EURUSD: Potential Bullish Cypher PatternShort and simple, I'm looking for a potential Bulish Cypher Pattern on the $EURUSD. Aside form that I don't have too much on my radar thus far going into today's Live Trading Room session. $EURJPY is the only other pair that I have orders on aside from yesterday's $USDCAD long.
THURSDAY is our big day, not only do we have my usual Weekend Review Video coming out. Should be a very interesting one (so make sure you're subscribed to my youtube page) But Jason Stapleton also has his "Cracking the Code" workshop. Got to make it through today first though. Good luck out there today traders!
Akil Stokes
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GBPUSD: Breakdown of a Bearish Trend Continuation SetupMany would call me crazy for looking to short the Cable ($GBPUSD) knowing that we're at a major level of structure on the daily chart, but IF we get the right type of retracement, there will be plenty of room to profit and exit the trade in what will simply look like retest of structure lows on the HTF.
As you can see on my chart price action has recently gone through it's normal stages of expansion, consolidation, followed by expansion. My prediction is that we'll see some continued bullish action off of our current lows and retest that previous level of consolidation where I have an initial killzone made up of Fibonacci retracements and an inversion.. That's where I'll be looking for my opportunities to short.
Each week in the Live Room and Syndicate, we seem to pick a single pair that we stalk for days waiting for the right opportunity. Last week it was the AUDCAD and that played out pretty well. Hopefully we can see the same here on the GBPUSD.
Other pairs on my radar to start the week are the USDCAD (which I'm already long this morning), NZDUSD and AUDUSD. Best of luck in the markets this week traders and if you want to see the video version of my Trading Recap just click the link below.
"Trading Recap Week #2: Attacking The $EURUSD" www.youtube.com
Akil Stokes
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www.TradeEmpowered,com -The Premier Online Trading Education Company
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Bear Bat @ Structure on the MonthlyAfter zooming out to the monthly chart trying to get an idea of whats to come I saw this bat.
Its interesting that it could complete @ structure.
I don't trade the monthly charts, but one might use this as a reason to get short on a lower time frame.
Whats in your plan?
AUDCAD: A 2nd Chance To Hop On The Trend with Video ExplanationI'm looking at two opportunities her eon the AUDCAD hourly chart 1) A Trend Continuation opportunity and 2) A bullish Cypher Pattern. Now of course you can combine the two, but when working with newer traders my advice is to pick and master a single strategy first, then add or start to combine later in your trading career.
If you're new to following me this was a trade that we looked at earlier in the week so make sure you check out that post. I also reviewed it in my YouTube video last night so make sure you check that out if you're the type that picks up things better by watching. Good luck as we enter our final trading day of the week, I know those of you that trade advanced patterns on the $EURUSD are probably already starting the celebration a little early. ;-)
Here's a link to the youtube video talking about the AUDCAD www.youtube.com
Akil Stokes
Chief Currency Analyst & Head Trading Coach
www.TradeEmpowered,com -The Premier Online Trading Education Company
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