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USDJPY Pennant Pattern BreakoutSyndicate members there will be a video coming out on this shortly, but I wanted to share with you guys a potential breakout trade that I have on my radar this Tuesday Morning. If you're unsure on the different ways to trade these types of simple consolidation pattern you can check out the video I posted 2 weeks ago titled "How To Trade Breakouts" But there is a lot of potential upside on this trade especially when you consider the levels of structure that we have just broken & the next levels of potential resistance that lie on the daily around the 111 even handle.
Long
by Akil_Stokes
29
USDJPY: Bearish Bat + ExplanationHi Traders, Here is a bearish bat pattern setup on USDJPY with D pattern completion at 103.950. Read below if you are unsure how to identify a bat pattern. 1) Look for an impulse leg, which will mark the beginning of the pattern. I like the analogy of seeing the impulse leg as a "Sore Thumb" high or low point, something that immediately sticks out on the chart. This is the X point. 2) Grab your fibonacci retracement tool and draw from the X (sore thumb high or low) to the lowest/highest point of the move. This is the A point. 3) Price must touch the 50% retracement of the XA leg, BUT NOT TOUCH the 61.8%. This is the B point. 4) Draw a fibonacci retracement from the A to B point, we are looking for AT LEAST a 61.8% retracement. If price exceeds the A point the pattern is invalid. This is the C point. 5) To find the completion at D, draw a fibonacci retracement from XA and if price reaches the 88.6% retracement the pattern has completed. This is the D point. 6) I place stops 10-15 pips above or below the X leg. 7) Targets go at the 38.2% and 61.8% retracement of the A to D leg. Hope that helps! Remember to leave me a like or comment below if this helped you. Good luck and good trading, Luke
Education
by Beebags
SEX Set-up *Sorry I meant SPX500 ;)It is about time us Bears got together and smashed this cheeky bugger off the worlds top spot. As you can see here we have combined waves of tightening wedge formation on the chart. We also have some strong fundamental key events to help drive emotions and stretch budgets. The cloud of short interest is growing and if we slam hard come NFP we will be able to see a phenomenal short-medium term drop off and correction in price. Tell the FED to pack some Vaseline
FX:SPX500Short
by RSCexclusive
8
Down under getting further down under AUDUSD THE analysisLong term outlook very bleak for the once relatively strong AUD. It's been a tough two years on the Australian currency. With a very wobbly gold price dictating the nerves and a phenomenally crucial period of USD relative strength the AUD is suffering without a doubt. Using a simple fib based regression trend analysis along with a modified pitchfork that ties into the fib I predict a lowering of price here over the course of the next few days and weeks. Entry can be taken now but ideally I would suggest let it pop up just a bit further before taking it on for SHORT positions. As for leverage, margin, size and duration I leave that all to you my trading buddy :) Best of luck and stay safe. It's a dangerous place to be falling without a parachute ;) #winningtrades #thatswhatwedo #changeyourlife
Short
by RSCexclusive
USDJPY Get down you dirty dog! #bitchbetterhavemymoneySo USDJPY has been grinding down the price levels for some time now, here is a simple profitable set up for a further short scenario. Take a Short from here and hold. 101 is my personal target profit take and I suggest if you follow that you do the same. My stop is set at 106.600 Time duration of the trade I would expect to be no longer than two weeks at most. Good luck if you take it on. Let me know with some feedback and banter.
Short
by RSCexclusive
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 Chief Currency Analyst & Head Trading Coach www.TradeEmpowered.com YouTube goo.gl Facebook: goo.gl Twitter: goo.gl You Can Also Follow Me On Instagram, Periscope & StockTwits @AkilStokesRTM
by Akil_Stokes
14