Jason_stapleton
3 Potential patterns on AUDUSD H13 patterns I am paying close attention to.
2 Cyphers and 1 potential Gartley.
Let's wait and see if any of these play out.
TCT on USDJPYThere is a possible double bottom forming on USDJPY H4 right on a structure level.
RSI oversold, and divergence as well.
Target1 at test of previous outside return, and target2 right below retest of structure level above.
Stops below the structure at 113 inversion.
GBPUSD Cypher PatternPrice has pushed beyond the B-leg to hopefully complete a bearish Cypher pattern.
The market is generally trading downwards on this pair, which gives me even more confidence on this one as it is in the direction of the underlying trend.
Cpher Pattern Tool ExplainedAfter much confusion from traders regarding the Cypher pattern tool created for us by the guys over at Trading view, we decided, as the pattern was discovered by our very own Darren Oglesbee, that it was only fair to explain what the differences were between the new tool and the original ABCD pattern tool, when you should use it and why you should use it.
The pattern has become ever more popular due to its high success rate and frequency in the markets, however, there is so much confusion on how to trade it the correct way using the correct rules.
For the correct rules on how to trade the Cypher pattern, you can go over to TradeEmpowered.com and click on learn to trade.
See below for the short video explaining the Cypher Pattern tool.
youtu.be
2.618 Trade setting up on GBPUSDOk TradingView Crew, here is a nice 2.618 trade setting up on GBPUSD and before you start asking me a bunch of questions make sure you've watched the training on this trade. I lay out all the rules and it's totally free. tradeempowered.leadpages.net
Fib Inversion Setup on AUDUSDI have not posted here in a very long time but I know a lot of you have been asking me to start again. If you have a desire to see more from me here let me know.
EURUSD: Potential Bullish Cypher Pattern & Why I'm Waiting It's a busy Monday in the Markets as we're seeing a lot of corrections from last week's major news event. I've got a lot on my radar including potential longs on GBPJPY & AUDUSD. As well as a few potential shorts on GBPJPY & USDJPY. In fact the USDJPY may be filled already on a bearish Cypher .
Speaking of Cyphers we have a potential bullish Cypher here on the EURUSD down at 1.1165. Now because the risk is beyond my acceptable levels (100pips) I won't be able to enter aggressively at the D completion, rather I'll have to wait until I get an alternate reason inside the Kill Zone. in the future I'll be able to simple move my entries down to a level that will put me within that 100pips zone however I do have "rules" about when I can change "rules" so that can't happen until the end of the quarter.
There looks to be lots of movement in the market which means lots of opportunities, so i'm excited about the week ahead. I'm also excited about some testing that I'll be doing trying to "break" a level III system to make sure all of the bugs are out. Admit it you'd be excited to if someone have you a sledge hammer and said "swing away"
Good luck out there traders and thanks for all of the kind comments from this past week's Weekend Review video. The speech that Jason Stapleton gave was great and hopefully it had an affect on your trading mindset! (Here's the link www.youtube.com)
Akil Stokes
Chief Currency Analyst at Trade Empowered
Click here for 20+ hours of FREE Training
tradeempowered.com
Click the link below to subscribe for more FOREX TRADING videos
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EURJPY: Walking Your Through A Trade Setup (Video)With the FOMC Statement/ Interest Rate decision coming later today, I have no intentions of having any exposure in the market. If you're like me and plan on sitting on your hands until the dust has settled then feel free to kill some time by watching my latest Forex Weekend Review video.
It's a little on the long side but in this week's video I walk you through how i breakdown a potential trading setup as well as share with you my thought process as the trade progresses. I also share with you a very powerful speech by Jason Stapleton talking about "the Reality of Trading Performance" and what the reality of ta trading equity curve looks like as well as some insight into "Why we started the Syndicate program"
"FOREX TRADING: Looking Over A Trader's Shoulders" www.youtube.com
I hope you guys can kill some time before the 2pm (NY) news event and PLEASE be careful out there. Don't try and get cute, it's really nothing but a gamble...and not the educated ones that we like to involve ourselves in.
Cable turned bullish for some weeks ?Examining the cable pair closely on a high timeframe made me seen
1) On Sept 4th 2015, Price has hit the Monthly trendline and started doing bullish trend
2) On Sept 4th,2015, the Price has also hit Monthly/Weekly Support ~1.51658
3) Looking at RSI, it is still in a bullish mode
Based on this, long term the price might only continue to increase toward Monthly bearish trendline ?
Comments ?
EURUSD: Bearish Gartley In A Bearish Market (w/Video Link)Short & simple today (no pun intended). We have a potential bearish Gartley pattern setting up on a market that has been in a strong bearish trend. Perfect chance for those of you who aren’t trend continuation traders, to hop on a TCT type of move using advanced patterns.
With Jason Stapleton out of town today, I’ll be running this morning War Room meeting, running through what trades are on my radar for the day. Here’s the link where you can watch it live. www.youtube.com See you there!
Akil Stokes
Chief Currency Analysis at Trade Empowered
Click here for 20+ hours of FREE Training
tradeempowered.com
Click the link below to subscribe for more FOREX TRADING videos
www.youtube.com
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Great trade so far - still going for more on the up-trend ?Hi all,
Took this trade last night when price was near 2.0400 where the price was also bouncing off of. and was channeling on 15M. But breakthrough and trended upward. I was already in with my rules of Channel Breakout setup. GBP News went out during London session and boom, 170 pips when I woke up this AM.
I advanced my stop loss near 2.0505 to lock in some profit in case the price decides to retrace lower. But I beleive the retracement would be near 2.0560 only and would continue up for another 100 or more pips or so toward the north trend line.
Thanks to Jason and Akil for the learning course on structure analysis and enforcing patience during trading :-)
On Good Trade - Chaching !!
Lets watch it.
EURUSD: Bull Gartley w/ Great Risk Reward*Just realized we have an ECB Press Conference Today at 8:30am NY. Be careful with this one up to that point* Great day of trading yesterday as I ended the day with a single win (usdcad) and a singles loss (eurjpy). For those familiar with those two trades, I'll take that any day of the week. For those looking for more information on yesterday's USDCAD trade make sure you subscribe to my youtube channel as I'll have a video up at some point today looking at it. (www.youtube.com)
Today's radar is thin, only the usdjpy, audusd and this eurusd trade (Dark Blue Gartley). This is a sloppy one (I'm watching it on the 4hr but wanted to show the bigger one as well) but it's a deep gartley pattern which if completed would provide an entry right near our X leg aka previous structure lows. Now, we know that FX data is often different depending on your broker so make sure you double check you "B" leg. Remember if it hits that 78.6 it's no longer a gartley pattern. Risk reward is great on this one 1:2 min for me and for some of you using less forgiving stops it's probably a lot more.
I've got some time before the Live Room kicks off so i'm going to do some reading and catch a little bit of the British Open before the opening bell. Good luck today traders and thanks again for all of the love shown yesterday.
Akil Stokes
Chief Currency Analyst
www.TradeEmpowered.com
Akil@Tradeempowered.com /@AkilStokesRTM /
Forex Weekend Review Videos: www.youtube.com
NZDUSD 1HR: Bullish Potential Garltey & Bat PatternsNot a lot out there today, for me at least. We've got a handful of fundamental events coming out once the New York session starts so maybe the markets are waiting for them but keeping it short and simple we've got 2 potential advanced patterns that would complete at the exact same level here on the NZDUSD. Despite the underlying trend being heavily bearish, we are a a weekly support zone which may cause some relief and consolidation.
The only other trade I'm in is the USDCAD position from yesterday, but I know Jason Stapleton has a few ideas that he'll share with us when we do our morning Warroom meeting.
If you haven't done so yesterday make sure you check out my latest video "A 200+ Pip Trading Day" www.youtube.com and I wish you the best of luck as always in today's trading.
Akil Stokes
Chief Currency Analyst
www.TradeEmpowered.com
Akil@Tradeempowered.com /@AkilStokesRTM / Forex Weekend Review Videos:
www.youtube.com
Bullish Cypher on AUDUSDFound a nice bullish cypher on AUDUSD. The risk and reward for the first target isn't exactly 1 to 1. But, As we are on the
shelf of structure, we might see a rally up to 0.618 CD retracement.
GBPAUD 2618 TradeLooking at the weekly time frame on this pair, we are at a level of previous structure looking left. If we go down to the daily time frame you can see the market has put in three candles with high test wicks. For me, this shows that the bulls have attempted to push through the resistance level but have been rejected by the bears each time.
This would signal a potential shorting opportunity. But how can we get involved?
Well moving down to the hourly time frame, price action has put in a double top, a break and close below structure then a retest of the 618 retracement completing a 2618 trade set up.
This presents a great shorting opportunity with good risk reward.
If price action is around the same level of Fridays close, the more conservative traders could look to shoot for targets at previous structure offering a 1:1 RR . Those more aggressive traders could shoot for extended targets down at the 618 retracement which lines up in the zone with previous structure or even the 786 retracement which comes right in line with the circled level of indecision structure.
Whatever happens, good luck in the markets and I hope you all have a good week trading.
GBPUSD: The Week Ahead (Day 2)If you're new to following me, yesterday I decided to dedicate an entire week to keeping you guys updated on a single pair. Below is a link to the Day 1 chart if you missed it or just need a recap on what I was looking at.
The cable was very bullish yesterday an nearly pushed up to our projected bat pattern completion. Since then we've retraced and are setting up another potential drive to that level. With all of the heavy news out of the way today and the markets waiting on tomorrows GBP news and the USDs FOMC statement, I'm not expecting too much movement so I'll mainly be looking intraday for my trading opportunities.
Here on the hourly there are two places that i'm looking to get involved on GBPUSD. The first would be a structure play at the retest of the potential Gartley patterns "B" leg and the other would be the potential Gartley which would complete down at 1.5517s.
Jason Stapleton just informed our Syndicate members that he got short this pair around the 1.56 even handle as well. My guess is a structure play as we've just tested a previous level, but I won't know for sure about his thought process on this trade until our War Room meeting at 8:30am NY.
The response was GREAT yesterday and it seems as if you guys are very excited about me trying this "1 Pair A Week" thing out. So I'll keep this going and if it continues to work well maybe it'll be a regular occasion.
See you guys in the Live Room!
Also if you're interested in seeing where I go to get my fundamental data from, i wrote a blog post last night sharing mu top 3 sources: tradeempowered.com
Akil Stokes
Chief Currency Analyst at www.TradeEmpowered.com
Akil@Tradeempowered.com
Check out my FREE weekly trading videos www.youtube.com
Long at D // targets at 38.2% and 61.8%Waiting for validation of this pattern...
If we get D, i will enter Long
Notes on chart
"Look left, structure leaves clues..."Based on Fib Extension and Structure
Target around 127.2% extension from last move.
IF we break that 127.2% extension THEN we move to 161% zone.
"Look left, structure leaves clues..."
GBPJPY: Price Action Short, When Will The Bulls Give In?I don't place trades off of the daily timeframes but I do watch them on a consistent basis as part of my top-down analysis and GBPJPY has been one that has been in some what of a fight as of late.
After easily rallying up into structure it's come to a halt and it looks as if the bulls may be running out of steam. Just look at the wicks, they're trying to push higher but have been rejected each of the last 5 times. Now this doesn't mean that it will happen, but it does mean that this is a decision point in the market.
If we do see some relief I would predict a move back into previous structure support which exist down at the 185 even level.
An entry on the LTF would give me a much better risk reward on this setup, so we'll see if the market will give me anything to work with this week. As of right now it looks as if my best chance is to wait for a LLLC and retest of structure to get involved.
For those of you in the Syndicate, that just watched Jason's video on the F.E. trade, this would be a perfect chance to paper trade (WITH DEMO MONEY!!!) that technique as a breakout an run wouldn't shock me.
Akil
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)
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
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.
