EURUSD Daily Cypher / Double Top So a couple of things Im watching
There is potential for a dopuble top 'If' we dont close above that spike back in August last year
This would also coinside of a possible C to D leg of a cypher
Structure-trade
USDCAD Double Bottom Possible 4 hr If we see this 4 hour candle close with out breaking structure we could see a rise and double bottom form
A couple of areas where it could go if it doesnt close lower
EURNZD: Potential Bullish Opportunity at Structure SupportAs mentioned in a previous post, I try to make a habit of looking at pairs outside of my trading portfolio in order to stay sharp and work on my technical analysis skills.
Today I found a nice potential opportunity on the EURNZD. Syndicate members I'll be talking about this setup in a little more detail in the video I'm about to produce for you, but essentially what I would be waiting for is a buying signal once we've been given confirmation that this level of support has importance.
I'm not sure if I'm going to do this or not, but keep an eye out for me on social media as I'm thinking about broadcasting the first 30 minutes of tomorrow's Live Trading Room session on Youtube. If that is the case I'll get the word out tomorrow morning for you.
Akil Stokes
Chief Currency Analyst & Head Trading Coach
www.TradeEmpowered.com -The Premier Online Trading Education Company
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EURUSD 1 Hour: A Short & a Long Idea (Heavy News Today)The Euro has finally broken out of it's consolidation, which may not be a good thing since us pattern formation traders had a pretty decent run over the past few days.
Anyway the LLLC leads me to make new predictions about the market and how I want to get involved. Technically speaking there are two opportunities that are on my radar. 1) A retest of previous structure support turned resistance for a bearish trade or 2) a move down to our lower level of support for a bullish trade.
We've got heavy news coming out in the form of Retail Sales & PPI this morning at 8:30 est, so the reaction (assuming the market gives us one) will most likely dictate which opportunity will become valid.
The key is that no matter what the market decided to do I have a plan for it. I have a plan to take a short. I have a plan to take a long, and I have a plan to stay out all together if my rules of engagement are not met.
Good luck out there today traders! Stay disciplined & stay positive!
Akil Stokes
Chief Currency Analyst & Head Trading Coach
www.TradeEmpowered.com -The Premier Online Trading Education Company
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NZDJPY BEARISH BATHey traders! we have an opportunity here to go short. We have a good structure zone, expecting the price to drop from that area.
GBPUSD: Decision Point "IF/THEN"1st of all thanks for all of the great feedback on my recent article in FX Trader Magazine. You guys are great!!! Now to the charts!
GBPUSD is making it's way down to a key decision point level. I call this level a decision point because how I decide to trade this will be determined on what type of decision is made by price action at this level.
If you've been following myself or anybody at Trade Empowered, then you've heard us mention the "If/Then" thought process. Here's a perfect example of how/when it comes into play.
"IF" price action holds at that level "THEN" I'll be looking for a long opportunity. "IF" price action creates a Lower Low, Lower Close (NSH) "THEN" I will shift my mindset & look for a trend continuation type of trade to the bearish side.
We'll be keeping a close eye on this pair in the Live Trading Room today, and some pairs with similar setups will be the EURJPY and USDCAD.
**KEEP NOTE*** We do have FOMC Minutes being released this afternoon at 2pm New York time.
Akil Stokes
Chief Currency Analyst & Head Trading Coach
www.TradeEmpowered.com -The Premier Online Trading Education Company
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Some more space for Euro to go higherHey, traders. Uptrend presents. Gartley formation almost completed. Looking for trend continuation here. Support me with your "like" and "follow". Do not be lazy to check my attached ideas. There's lots of educational stuff that can help you to improve your trading)
USDJPY CYPHER LONG SETUPHey traders! Sorry for not posting, was busy with my work. Here we have potential bullish cypher pattern. Expecting a reversal from there after the completion. Important structures are marked. These are good potential reversal zones.
EURGBP 4hr Double Top So was a little bit early on my entry as we moved almost 55 pips higher!
But what we have seen is the pair come back up into recent highs and form a Double top. This are is well into the oversold area of the RSI
How there are 2 possible outcomes we could come back down to the 0.77743 level and bounce
or
If we break structure there is a possible 2618 set up, which given the previous lower support I see this as an area to watch
SPX in the key areaSPX enters the key area for its nearest future as the price came up to 0.764 fib ret of the last downward move and the 1.618 extension of the AB leg in the potential structure pattern. Look for the signs of weakness on 1H chart (divergence on RSI or price channel breakout) it may be goog risk reward short trade with stops above 2120 and potential targets 1945-1920. Market is significantly overbought on the daily RSI(7).
EURAUD 2618 on the Daily We have had our Double top and impulse leg down
if we see a retracement to the 618 I feel that pervious support could act as ressitance and see a move to the downside
AUDUSD LONG SETUP ( BULLISH BAT )Hey traders! we have an opportunity to grab this long @ 0.74239. Price action is trading above both the EMA's. Also we have previous structure zone where we might see the pattern completion. expecting another impulse to from.
SHORTING AUDNZD I have left everything on the chart for you guys/girls to read. if you have any questions just send me a message and i can help out sure thing.
Just want to shout out to Akil Stokes and Jason Stapleton for great material. Go check out there free stuff! They have by far the most valuable trading information on the planet and 99% of it is all free
EURUSD nearing Short Term Support, Bounce Expected.EurUsd currency pair is nearing a short term support level. Watching previous price action we are most likely to get a bounce for 60 to 80 pips from this support level. Stops should be @ 30 pips from entry. Hit like button if you really liked it.
EURUSD nearing short term support level. Bounce is expected.EURUSD currency pair is nearing a short term support level which i think would most likely give us few very high probability pips on bounce. EurUsd is behaving like this of late. Best of luck.
Yet another fractal idea!They are not perfect (proportion wise) but the similarities are obvious in terms of structure.
so if it fails to break above 438 it will keep following the structure of the bigger rectangle with blue borders which means down to 390-380.. but if it does break up from this structure I think there is a big up possibility.
by the way I'm long with a tight stop.. I bet it will break up this structure :)
GBPJPY TCT (RSI DIVERGENCE) SETUPHey traders! I have a short setup here in 240min timeframe. Price action currently trading in structure resistance. RSI hidden divergence showed up which shows a great chance to take this short, a nice trend line showing good resistance too. The stop loss amount is a lot. I would not put more than 1% risk here.
EURUSD BEARISH CYPHER ( STRUCTURE TRADE)Hey traders! Posting a chart for EURUSD after a long time, and here I have come up with a bearish Cypher pattern completing @ 1.11635. I like this blue zone, It has been tested a couple of times and thus it has strong potential to pull the price down once again. So the cypher completing at previous market structure, expecting the drop to 1.11352 if it completes.
USDJPY: Potential Bearish Bat PatternAs the USDJPY finally shows some relief from it's tirade last week, we have a potential bearish bat pattern forming at a previous level of consolidation. The HTF structure lies a little higher at the red dotted line, but it would not surprise me at all if we saw a reaction between 114.50's and 116.00's
Other pairs that are on my radar today $GBPUSD, $AUDUSD, $XAUUSD
Akil Stokes
Chief Currency Analyst & Head Trading Coach
www.TradeEmpowered.com -The Premier Online Trading Education Company
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EUR/USD long psychological resistance and double bottomPerfect scenario to enter the EUR/USD long, 1,12 is an important support zone and psychological border.
We follow the general upwards trend of the last weeks by opening a long position.
Target is set at the last structural zone.
Stop-Loss a few pips below the support zone.
High Risk Reward Ratio!
EURUSD How We Approached The Potential Bearish Bat (Video)About a week ago I posted a chart looking at a potential bearish bat pattern on the EURUSD & told you that I'd be looking for reasons in my Live Trading Room to get involved in the move up to that level.
Well this week I was able to take advantage of that opportunity & wanted to share with you the video demonstrating how exactly I did so. www.youtube.com
I'm trying to reach 25,000 subscribers on my youtube page, so if you like what you see please support by Liking, Sharing & Subscribing. Thanks in advance!
Akil Stokes
Chief Currency Analyst & Head Trading Coach
www.TradeEmpowered.com -The Premier Online Trading Education Company
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GBPUSD: Potential Reversal Zone for TCT BullsPotential Bullish Trend Continuation trading opportunity on the GBPUSD. To create my potential reversal zone I've used a combination of structure, market harmonics and Fibonacci tools.
Also if you missed it live yesterday I posted a recording of our week 5 trading recap video on my youtube page.
If you're new make & you like what you see make sure you give me a follow. If you're already following, thanks for the support and make sure you hit that THUMPS UP button in the top left of your screen.
Good luck this week traders!
Akil Stokes
Chief Currency Analyst & Head Trading Coach
www.TradeEmpowered.com -The Premier Online Trading Education Company
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You Can Also Follow Me On Instagram, Periscope & StockTwits @AkilStokesRTM
EURGBP BULLISH GARTLEYHey traders: We have a potential bullish Gartley setup in EURGBP. IF price action drops to 0.76555 the bullish Gartley pattern will be completed. Look left structure leaves clue , Resistance becomes Support as usual, We do have a chance to see the price action bounce from the structure zone, hopefully the stops are below it. We are trading above the 89,144 EMA's which indicating a bullish bias too, Also if you notice that before the XA leg we do have an impulse leg which is the new structure high which made the change in trend. I am expecting the price action to reach 0.76901 if the pattern completes. Also look at the RSI 7 period which shows a bullish hidden divergence.
Let us see what happens.
