CYPHER PATTERN FINISHING ON CADCHF 4HA Bullish CYPHER pattern coming to a finish on CADCHF 1H. RSI sliding toward oversold territory favoring a LONG entry. First target @ .382 retracement of CD leg. Previous structure lows around .74638 could provide a slightly better entry just below the .786 retracement level.
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BULLISH BAT PATTERN ON CADJPY 1HA Bat pattern is coming to a finish on CADJPY 1h. First target @ .382 retracement of AD leg. However, previous structure lows could provide better entry a bit below the .886 XA retracement @ 82.356 to 82.206. Price action around those levels will signal a better entry perhaps. RSI is heading into oversold territory supporting a LONG entry.
GER30: Bullish Advanced Bat FormationBullish Advanced Bat Formation on the DAX
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EURJPY: Another Trend Continuation Opportunity 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 projected move to the downside.
I've been uploading videos of this week's Forex Live Trading Room sessions. I don't remember the timestamp off the top of my head, but there should be some footage explaining my view on this pair.
Akil Stokes
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GOLD: Potential Retest & Extension 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 previous level of resistance which now act as support before extending higher.
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)
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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.
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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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BULLISH BUTTERFLY FINISHING ON 1H EURAUDA nice Butterfly pattern is trying to get to the finish on 1H EURAUD. Price action is currently testing a support @ 1.53607. If the level gives there are 3 nice levels with previous structure lows to determine an ample Possible Reversal Zone. The possible XA extensions @ 1,27, 1.414 and 1.618 range from 1.52970 to 1.52125. What is interesting is that the support being currently tested is a nice target to test as a resistance once the pattern finishes. Watch the price action near the PRZ to make entry as well as the RSI to suggest oversold and long entry.
BEARISH CYPHER FINISHING ON 1H NZDUSDBearish Cypher pattern finishing on 1H NZDUSD. Entry near the .6800 handle, so look out for stop hunters. Entry on .886 recommended for better TP ratios. First target for profit @ .382 of CD. RSI on overbought favoring short entry with slight divergence. Overall trend down, secondary target @ .618 retracement of CD leg. SL placed with some slack above X due to closeness on .6800 handle.
BULLISH BAT PATTERN FINISHED ON 1H GBPUSDA nice Bat finishing on 1H GBPUSD, this trade is a continuation off a previous Cypher and an AB=CD pattern. TP are placed @.382 AD retracement, secondary @ .618. SL placed below X, taking into consideration previous structure lows, look left....This could retest previous support @ 1.4638. RSI oversold favoring a LONG entry.
We´ve done well with this pair hitting T1 on the Cypher, stacking up on the pullback for the Trend Continuation and AB=CD pattern all the way down to this D finish.
BULLISH GARTLEY PATTERN NEARING FINISH ON 1H EURNZDA Gartley pattern is coming to finish on 1H EURNZD. Trade is active on the CD leg of the move. Previous structure low suggests entry @+- the .886 retracement. RR ratio is acceptable to the .382 TP target which could help a further Trend Continuation Trade to the CD finish of another bigger pattern developing. RSI entering oversold limits which favor a long entry.
AB=CD PATTERN OFF PREVIOUS CYPHER FINISH ON 1H GBPUSDAn AB=CD pattern forming CD leg coming off a D finish on a Cypher pattern on the 4h GBPUSD. Trend continuation trade having taken profit on the AB leg continuing the downward momentum. Confluence @.786 retracement and RSI on overbought favoring a short entry.
BEARISH BUTTERFLY PATTERN ON 1H AUDJPYButterfly pattern finishing on 1H AUDJPY with .886 retracement confluence. Previous patterns have played out nicely on this pair. SL placed at previous structure high gives good R-R ratio. TP targets @ .382 A-D and .618 A-D. RSI on overbought favoring a short entry with previous divergence.
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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POTENTIAL BULLISH BUTTERLFY PATTERN FORMING ON AUDUSD 15 MA nice potential Butterfly pattern forming on the 15M chart of AUDUSD, I´m on a short position on structure retest along the finish of the CD leg. The first potential PRZ @ the 1.27 extension of the XA leg and the second limit @ the 1.618 extension at previous structure lower low. Targets will be based on the RZ.