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Akil_stokes

DAX: PERFECT 2618 TRADE TURNING INTO A POTENTIAL BAT FORMATIONNot too much on my Forex watchlist so I took a few minutes to scan through a few other markets just to get the eyes warmed up for today's trading (going off of Charles Warroom Topic of "hitting the trading gym"). Price action on the DAX typically works very well with my style of trading so I love performing analysis & making predictions on it. What we have is a picture perfect 2618 trade (in pink) that is now setting up a potential Bullish Advanced Bat Formation. For traders who take secondary targets on the 2618 this is a perfect example of when to use that "Stop & Reverse" technique to liquid one position and involved yourself in the next. Good luck in the markets this week traders as we begin our final stretch of the 2016 trading year.
FX:GER30
by Akil_Stokes
11
EURJPY: Potential bearish Gartley Formation in Bearish Rotation Hey traders! Looking at a potential bearish Advanced Gartley Formation setting up here on the EURJPY. LOOKING LEFT at the predicted "D" completion price you'll also notice that this level has recently been respected as both previous structure support and resistance. The "A" leg of the Gartley Formation also represents a break and close below previous structure support which will help with our longer term analysis for those looking to take extended targets. I know a lot of you have taken advantage of this weeks offer, so we'll be reviewing this in a few hours as we start our trading week. See you there!
Short
by Akil_Stokes
36
EURJPY: Potential Bearish Gartley Formation after the LLLCHey traders! Looking at a potential bearish Advanced Gartley Formation setting up here on the EURJPY 0.00% . LOOKING LEFT at the predicted "D" completion price you'll also notice that this level has recently been respected as both previous structure support and resistance . The "A" leg of the Gartley Formation also represents a break and close below previous structure support which will help with our longer term analysis for those looking to take extended targets. I know a lot of you have taken advantage of this weeks offer, so we'll be reviewing this in a few hours as we start our trading week. See you there!
Short
by Akil_Stokes
9
USDCAD: Sitting at a Decision Point After holding higher timerframe resistance the USDCAD has made 220+ pip move to the downside and has now found previous structure support. I like to call this area a "decision point" when doing my analysis because a few trading opportunities are offered at this level depending on how price reacts. 1) IF support holds THEN we have a potential buying opportunity. 2) IF support fails THEN we have a potential selling opportunity as it turns to resistance 2) IF Support holds and retraces back towards the 1.3130's level THEN we also have a potential selling opportunity These are the type of pairs that I put at the very top of my watch list as potential opportunities are right around the corner
by Akil_Stokes
36
EURJPY UPDATE WITH EXPLINATIONSLet me first say I appologize for my post this morning. I was trying to get it out befor it completed and I ended up drawing it wrong. I also didnt break down my thought process. Here is what I was looking @ What I was looking for was a reversal that I have marked in blue. The market then gives me a higher high higher close labled HHHC Price then retraces to the 50% of X to A giving me my B point from my B point price retraces and touches the 382 of my A to B point giving me my C point. Once price moves lower than B it becomes my D leg in this perticular trade I get a complex D leg. I base everything off of the first fib levels that get hit. Now I dont always use a 382 fib on the bat however per my rules I can in this perticular trade. Why? Because of STRUCTURE. I hope this clears everything up to why I took this trade based off of a Bat This is just my analysis and we all see things differently and we all have different rules. TRADE WHAT YOU SEE! :)
Long
by rozela99
GBPUSD: Bear Cypher Forming a Potential Bull BatAfter a pain free win on yesterday's bearish Cypher formation (you need those sometimes), price action is now making it's way back down to the Cypher lows, which if you bump out to a higher timeframe also represents the "B" leg of a potential bullish advanced bat formation. Once my day trading day begins (at 8am NY) I'll be eyeing this level for potential long opportunities on the lower time frames (LTFs), but from a swing trading perspective the potential Bull Bat is the next trading idea on my radar. Very busy day yesterday as we saw 4 advanced pattern formations fill. Fortunately 3 of them were able to achieve targets with the remaining trade on the EURJPY coming very close. Either way what matters most is that they were all "Good Trades" and remember that's the goal if you want to see long term consistency with your trading. Good luck out there today traders and let's make some good trades! Akil
Short
by Akil_Stokes
53
EURJPY: Potential AB=CD Pattern Completion Happy Friday traders! Here on the hourly time frame the EURJPY is providing us with a goo example of what could end up being an AB=CD pattern. This was one of the first simple patterns that I learned to trade, and I also learned the hard way that trying to take every single one would land me in the poor house. Although i don't trade it on it's own, I routinely use it as part of my analysis when looking for areas of potential reversal and/or projecting future extensions.
Long
by Akil_Stokes
31
NZDUSD: Retest After Breakout (A Very Favorable Risk Reward)Hey traders here's a hard version of the trade I showed you in today's video (You can find the link to my youtube page in the "signature section" below). Previously we were watching and involved ourselves in the ascending triangle breakout. Now that price action has returned to our previous level of potential structure support, we'll be keeping an eye out for another bullish trading opportunity. The RED & GREEN box ARE NOT my entries,stops & targets (for those of you who like to blindly follow) It's simple a visual representation showing you how massive the risk to reward ratio can be on this particular trade. Good luck today traders!!
Long
by Akil_Stokes
25
EURUSD: Another Potential Advanced Pattern CompletionI usually say that I don't do too much charting on Monday's because the markets are usually slow. Well today the market is making me eat my words as I've already four Advanced Pattern Formations Complete along with numerous other potential opportunities under close watch. This opportunity is a potential bearish Gartley Formation with a deep "D" completion due to the length of our "B" leg. The circle drawn in at our "B" leg represents an example of My Favorite candlestick formation that I shared with traders this morning. (If you haven't seen the video it was posted about a month ago our Trade Empowered Youtube Page)
Short
by Akil_Stokes
26
USDCAD: The Rising Wedge Pattern ExplainedAs price action blew through the potential double top that we were watching this morning in the Live Trading Room, we had to throw the idea out and start looking for other opportunities. Currently we have a setup on USDCAD that I really like. It's called a rising wedge. This setup starts with a strong bullish move then as selling pressure starts to enter the market (from actually sellers, and from buyers who are selling to take profit), momentum starts to slow & price begins to flaten out. When combined with divergence on the rsi (and for me) a good level of structure, it makes for a very tasty trading opportunity. So what's wrong with this situation? Well the fact is that we're so close to structure that there just isn't enough room to get a good enough risk to reward ratio. So I'll have to play the sidelines and watch. Now before you think about forcing this trade REMEMBER THIS if there's one thing that we know about trading it's that "THERE WILL ALWAYS BE ANOTHER GOOD OPPORTUNITY" Good luck out there traders! And thanks to all of you that were so quick to comment on my latest video blog!
Short
by Akil_Stokes
34
USDJPY: Potential Bullish Advanced Cypher FormationHappy 1st official NFL weekend to you traders! During halftiem of the Cowboys v. Giants game I decided to perform a quick round of analysis to see if anything needed to be watched prior to my trading week and I actually found a handful of pairs that interest me. One of which is the USDJPY where we have a potential bullish Advanced Cypher formation in the works, looking at a "D" completion at the 101.75 area. Also if you look left...and even lefter, you'll notice the previous levels of structure that we're coming in to. For those who have a weekend left I hope you enjoy the rest of it and hopefully my Cowboys can pull off a win tonight, and my Toffes can earn 3 points and climb to second on the table tomorrow. Akil
Long
by Akil_Stokes
73
USDCAD: A Run Into Resistance w/RSI OverextendedKeeping a close eye on USDCAD this morning as price action makes it's way into previous structure resistance. I like to call these areas of the market "Decision Points" because depending on how price action reacts at this level, I'll know whether to look for a long or short opportunity. If you take a look at the RSI we've become massively overextended (above the 80 mark). This DOESN'T mean a reversal is on the way, but it's certainly something that we can use to help build a case when combined with other factors. Unless we get a higher high higher close above resistance I'll be looking for a short to add to my current GBPJPY & EURJPY long positions. Hope this was informative traders!
Short
by Akil_Stokes
27
EURUSD: Bearish Bat, Bearish Cypher, Structure ShortWe've had this one on our radar for a while now & finally price action has reached the completion point for our Bearish Advanced Bat Formation. (There's also a potential Bearish Advanced Cypher Formation hanging out a little higher) Because this pattern formation is to large for my liking, I'll be keeping an eye on the Pre-Brexit highs for a structure based trading opportunity as my way to potentially get involved. As mentioned in last nights video, I'm actually not to sold on this level as my analysis on the HTF's is telling me bullish breakout. But if there's a conservative way to involved myself (that meets my rules of course) then I'll be in. After all, as a counter trend trader we're only looking to grab a cookie crumb from the market & not a full cookie. Akil Stokes Chief Currency Analyst & Head Trading Coach www.TradeEmpowered.com -The Premier Online Trading Education Company Trade Empowered on YouTube goo.gl Facebook: goo.gl Twitter: goo.gl Instagram: goo.gl Periscope: goo.gl
Short
by Akil_Stokes
10