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EUR consolidation due for further downward trend continuation 1) Strong and respected structure at the $1.08416 level. This has been respected 5 times as outlined in the green circles. 2) Using Fibonacci retracement tool from the $1.10329 to the $1.052 leg we can see a 0.382 confluence with fibonacci level which lies on the $1.08416 structure level and can see that is has been previously respected as well. 3) Using this structure line as an entry for a short position we can enter anywhere between $1.0775 (0.5 Fibonacci level) and the $1.08416 (0.382 Fibonacci level). 4) Stops should be placed around $1.09145 (0.236 Fib level) and take profits around $1.0387 (1.272 Fib level)
Short
by LAMBO77
2
USDCAD SHORT SWING TRADEUsd/cad just broke the channel after hitting major PRZ (potential reversal zone) on weekly. Now we are waiting for pullback back to the previous channel low. Combined with fibonacci retracment 50 and 61.8 This could mean the first strong setup to the down side after long time. It is important to catch first setups of the new trend and it might go down so fast as it was going up in 2014. Entry : D1 or H4 candle pattern (pin bar, inside, engoulfing) or double top...divergence on lower timeframe, maybe harmonic pattern at the top .... Everything is explained on chart itself! Best Regards TradingYo
Short
by TradingYo
4
XAU/USD: Potential Bullish Gartley at Previous Structure SupportLooking at a very deep potential bullish Gartley here on XAUUSD that if completed would come right into previous structure support. The wicks created in that previous support zone made this an opportunity that I like regardless and having an advanced pattern complete at the same level just put icing on the cake. Very low risk opportunity compared to the potential reward as this chart has started to show us some consolidation. Bigger picture, there are a few more setups on the horizon including the potential bearish Bat shown here in orange, but that should matter at this point unless you are a trader that uses such things as a way to shoot for extended targets. We've got a brand new website over at www.tradeempowered.com so make sure you check it out, including an a blog post that I wrote today titled "Trading From A to Z" let me know what you think! Until next time, plan your trad and trade your plan Akil Stokes Chief Currency Analyst Trade Empowered: Live Your Passion www.TradeEmpowered.com
FX:XAUUSDLong
by Akil_Stokes
29
EURUSD 4HR Bull Bat Pattern/Learn To Trade The Cypher Correctly*IF YOU"RE LOOKING FOR THE CORRECT RULES ON HOW TO TRADE THE CYPHER PATTERN PLEASE READ THIS ENTIRE POST. ..It's been a busy week on the Euro, with the next big potential setup being a bullish bat pattern completion if the market pushes down to the 1.0527s area. I put on initial targets so that you guys have an idea of where to look for but remember that targets must be adjusted with current price action so there's no telling if they will be there for sure . Below is a link to video i recorded illustrating this very same setup. I don't like sharing links on Tradingview because I don't want to be "that guy" but if you click the link in the info section of my youtube video it will take you to the recorded sessions from the FREE workshop I ran this week. On Day 4 I taught traders how to correctly trade the Cypher pattern. Please check it out . "This Week on the EURUSD" youtu.be Akil
Long
by Akil_Stokes
21
AUDUSD: 1hr Potential Bullish Bat PatternI'm looking at a potential bullish Gartley pattern here on the AUDUSD hourly chart completing at the 88.6 (0.7553). If the gartley were to complete I'd expect a move back into our 38.2 fibonacci retracement locate at 0.7605. With that level being so close to the 76 even handle it's probably worth front running your targets a little more. Do be aware that we have Retail Sales news out tonight at 9:30pm and Cash Rate due out at 12:30am NY which should push these thin Asia-session markets, but when the smoke clears, if the pattern is still available it looks pretty appetizing. If you're a trader that can't actively watch the charts during this time period, it may be worth playing the sidelines. Also for those of you who attended today, I'd love to hear your opinion on how things went. I mentioned the "Kaizen" philosophy in my trading, well i also use that same philosophy in life as well so all comments are welcomed so that day 2 can be even better. Akil
Long
by Akil_Stokes
32
EURAUD: Reviewing The Tape (Education not a trade idea)I've already written my "Trading Recap" blog post for today but I wanted to share something with you guys. For you guys that have been following along with my blog you know that I've been working on an article looking at professional athletes and professional traders. One of my main comparisons is the amount of preparation and review that both do. Just like Peyton Manning or Tom Brady do after every game, after each trading day I review the tape, meaning that I go back through my trading day and critique myself. After all, in this industry we are our own bosses so if we don't do it who will? Last night I posted a trade looking for a potential breakout to the upside on EURAUD, although we did test the highs of our previous structure level we never got the break that I was looking for and it ended up being a scratch trade (breakeven). This morning in our Warroom meeting Jason Stapleton fired off 2618 idea for this same pair. (I'll attach a link to the FREE 2618 training at the bottom of this post). In the live room we ended up finding a bearish Cypher at the same level and ended up getting short as well. After banking some good pips, I spend the rest of our session going through the rest of my portfolio and basically but this pair on the back burner. BIG MISTAKE, if only i would have paid more attention to it, i would have seen that IF our 2618 setup were to rally to 2nd targets THEN we'd also have a Bat pattern completion which we plant a stop & reverse at. So yeah I left a few pips on the board today but the important part is that I was able to identify my mistake and turn it into a learning experience. For those who don't take the time to review their day, well that mistake may continue to be a future mistake. Thanks for taking the time to read this and I'll see you next week at the Technical Trader Workshop!!! FREE 2618 Training Lesson: www.youtube.com 2015 FREE Technical Trader Workshop: promos.tradeempowered.com
Education
by Akil_Stokes
10
EURJPY: Bearish Bat Pattern Into 2618/Kiss of Death TradeJust broke this pair down in my Live Trading Room. After looking at the LLLC of the triple top highs, our traders were gearing up for a potential 2618/Kiss of Death trading opportunity. As we dug a little deeper into things we noticed that if we got the retracement back into previous structure then that 2618/KOD would be bet with a bearish bat which could be used as an entry reason. If price action goes the opposite direction (or retraces and then makes a bearish dive) we also have 2 more advanced pattern waiting for us lower. A bullish Cypher and Bat pattern
Short
by Akil_Stokes
3
EURUSD: Active management/A structure trade review (w/video)THIS IS NOT A TRADING IDEA, more of a recap. Earlier this week I posted a chart of the EURUSD that had three potential bearish patterns setting up in the same area. In that post I mentioned that I was also involved in a long position on the Euro. Well after 24 hours of doing absolutely nothing this pair finally decided to rally and move in my favor. Throughout the week I've gotten numerous messages about that position and since I never posted it here's a quick look at what was on my mind. Unlike advanced patterns, when I involve myself in a structure based trade I look to actively manage it. The "black flags" on the chart were potential profit taking levels for me and as price action approached them I would keep a close eye on the reaction. A positive sign would lead me to stay in the trade, while a negative sign would cause me to take my profits and fight again another day. The blue lines are an example of how i managed my stop/loss while the position was in progress. While the green flag is where I ultimately ended up taking off my final profits. Now before you yell at me about "not catching the entire move" please take a look at the video i just uploaded to my YouTube channel explaining the "Pros" and "Cons" of active management vs shooting for a static target area. www.youtube.com
Long
by Akil_Stokes
4
EURUSD: Bearish Gartley & CypherAfter yesterday's FED Fun (unless you were on the other side of it) a lot of currency pairs are showing similar movement. A complete retracement from yesterday's spikes back into previous structure. We've been rolling through charts all morning in both the live trading room and the Warroom meeting trying to fish out which opportunities are worth taking and which are better off staying on the sidelines for. EURUSD is one that I like. I just fired off a long on this pair at 1.0665's and Jason is waiting a little bit lower to potentially get involved. Those are more intraday/swing trading opportunities since the ATR is rather large today, but from a day traders perspective, we also have 2 potential short opportunities in the form of a bearish Gartley and Cypher. It would be nice to see all win on different accounts. Would make for an awesome end of a nice looking week thus far.
Short
by Akil_Stokes
5
SPX daily candle analysis 3/10/15For my analysis for Tuesday's trading, I am anticipating a move down. The market failed to get back to 2088 yesterday and breathed more life into the sellers to take this lower. I am looking to see this test out the low 2050's. The MACD is in favor of the bears. The stochastic however is approaching oversold. The price pattern isn't too bad as it stands now. The channel is still in play and this may very well be just another day in the neighborhood. Until the channel is broken, the market will continue its move up.
SP:SPX
by Wincreaseteam
1
NZDUSD: The Last Trade Have OnIt's been a very slow week for me, but luckily Jason is picking up the slack. Going into Friday's Job Report I have no intention of entering any new positions aside from this potential bullish bat pattern on the Kiwi. NZDUSD is in a very interesting position as our HTF trend has bounced off previous structure resistance, yet our LTF trend has recently created a NSH and is retesting previous structure support. Consolidation perhaps?? Hope so since that would work well for pattern traders. VERY IMPORTANT. IF this trade does not trigger before tomorrow mornings top-down analysis THEN I will remove all orders as I want no parts of the crap shoot that is the Non-farm Payroll report. As always it's Thursday so that also means the release of my weekly WEEKEND REVIEW video. (link at bottom)) In this week's video "Dollars Don't Matter" I talk about this NZDUSD trade, how we can help each other out in the initial phases of backtesting an updated version of an inside bar breakout strategy that i used to trade, and of course an update of how Jason and i have down int he Syndicate. here's a clue...I haven't done much lol www.youtube.com Lastly make sure you clear your schedules for early April ;-)
Long
by Akil_Stokes
33
USDJPY: 3 Potential Advanced PatternsMultiple potential advanced patterns setting up on the USDJPY all around the same area. We've yet to break out of this consolidation, but if we do before Friday's Jobs number, we have a good location to look for our next short. Before I get a million nasty messages no, I don't think dollar weakness and Yen strength long term, but that's what makes me a "Trader" and not an "investor" I don't have a long term bias when trading on shorter term charts. I take the setups as they come bullish or bearish despite my personal fundamental outlook.
Short
by Akil_Stokes
22
Potential Bullish Flag Breakout Into A Bearish BatA lot of news coming out this week for both CAD and AUD but on the technical side of things what I see is a bullish flag pattern forming within the C to D leg of a potential bearish bat pattern. I don't trade flags the same way i trade advanced patterns but I do like when they come back into previous structure as in this case so it's something I will certainly be keeping my eyes on to see if I will get a chance to be involved. If so you can look to ride price action up to the potential bearish bat and then stop and reverse putting yourself short the advanced pattern. Not that this means much as I don't have that much of a bearish bias, but the Bat completion would also give us a valid C leg of a much bigger Gartley pattern located on the daily. If you want to get a better idea of how I trade please check out my YouTube page where I have over 100 FREE trading videos posted. www.youtube.com Also for day to day insights of what I did in the markets and what lessons were learned from it check out my blog at ratiotradingmentor.com
Long
by Akil_Stokes
19
GBPAUD: Retest of Triangle via Bullish Gartley (+video)GBPAUD has been a pair that we've been tracking for about a month now. For the past w\few weeks we've been waiting for the ascending triangle breakout and now that it's occurred the next chance to get long would be a retest of structure. As the market has wiggled it's way down, we've set up a potential bullish Gartley pattern that can be used to take advantage of a longer term buy or simply just trade as the pattern that it is. Also yesterday, I released my usual Thursday night video. It has nothing to do with this particular trade but it should provide a better idea of what I look for when analyzing a price chart. www.youtube.com
Long
by Akil_Stokes
16