Ilovetrading
What is the theme for now : Risk-On or Risk-Off (AUDUSD)What is the market telling us now after all the turmoil from Brexit. Is it going to be Risk on or Risk Off for next week ?
The charts are showing us that the AUDUSD is currently supported at the 0.7330/50 levels.
If these support levels give way, we could be looking at 0.7060 or even 0.6950 levels for the pair as it goes down to complete the Bullish Bat pattern
Index of Italian Market (MIB) created a downtrend before BREXITMIB shows signs of a downtrend (again). Around 17300 we expect a rezistance with higher volatility due to BREXIT.
INDEX:MIB [/symbol
MIB is mainly driven by low-quality titles from the bank sector.
We expect reaction to the downside with quite interesting RRR of almost 3.
More you can find and learn free on UncleTrader.com .
Time to buy Sony?SNE is hovering near the 61% Fib retracement. There is also renewed hope of a positive growth outlook among investors. Time to buy SNE?
GBPJPY turning bullish after that big drop ?As you all would know, I missed the big drop on the pair after being spiked out of my short. (See related ideas)
Now after all this, I am going long for the reasons below :
- Completed a Bullish Shark Pattern
- Forming a falling wedge (bullish indication)
- Bullish Divergence on the RSI
Breaking above the falling wedge would be a powerful indication that the price is ready to move up
CADCHF Long before the Big Short ?CADCHF seems to be on my radar this past month. In my earlier trade idea, I was looking to short this pair but it never came up to my sell zone. (See related ideas)
Now the pair has completed a Bullish Bat pattern to go long. The chart is indicating that it might come back for a re-test for us to go long. I'll be watching this pair.
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
Chief Currency Analyst & Head Trading Coach
www.TradeEmpowered.com -The Premier Online Trading Education Company
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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
Chief Currency Analyst & Head Trading Coach
www.TradeEmpowered.com -The Premier Online Trading Education Company
YouTube goo.gl
Facebook: goo.gl
Twitter: goo.gl
@AkilStokesRTM (Instagram, Periscope, Snap Chat & StockTwits)