AUDCAD: Nothing Fancy Just Pure Structure TradingNo fancy shapes or anything like that today just a pure structure based setup for you guys. We'll be looking for long opportunities on this pair today in my Live Trading Room looking to hop on the current outside return. We're actually inside the killzone as we speak but I'll be waiting for a lower place of entry since I'm more or a trend continuation trader not a trend following trader in these types of situations.
We do have a Fibonacci cluster in this zone as well but what caught my attention was looking at price action and how resistance has recently turned to support around this psychhological level of 0.9950.
If you find that you're unfamiliar with the basics of reading a price chart make sure you watch the FREE Training video called "Into The Grey" goo.gl
Thanks for all of the support traders and continue to "LIKE" "SHARE" & "COMMENT" under these posts!
Akil Stokes
Chief Currency Analyst & Head Trading Coach
www.TradeEmpowered.com
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Structure-trade
USDJPY: Clean harmonics Into A potential Structure ShortIn preparing for this mornings training on IPDE and Trend Continaution vs. Trend Following vs. Countertrend trading, I found a handful of potential good looking structure based trades on the Yen crosses.
In this particular example we have some beautiful harmonic movement (equal measured moves) heading into a resistance level. Thanks to that nasty wick at the top our killzone is a little bigger than what I would prefer, but that may not play a difference depending on what type of entry reason we get for this potential short.
I've got a video coming out later today on the EURUSD and possible how we can attack this trade as well so make sure you're subscribed to my channel. goo.gl
Good luck this week traders and as always please LIKE, COMMENT & SHARE this post.
Akil Stokes
Chief Currency Analyst at www.TradeEmpowered.com
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GBPJPY: Using Patterns, Harmonics, Fibs & Structure (w/ video)Looking for a short opportunity here on the GBPJPY using advanced pattern recognition, harmonic movement, Fibonacci ratios and structure identification. For a more in depth explanation of what i'm looking at see the attached video link below.
Akil Stokes
Chief Currency Analyst & Head Trading Coach
www.TradeEmpowered.com
"Learn to Trade: FOREX TRADING Using Fibonacci, Harmonics, Structure & Advanced Patterns"
youtu.be
NZDUSD LONG & SHORT OPPORTUNITIESNot knowing which way the market will take us we need to be able to identify potential trade opportunities for going both long & short.
IF price action takes us higher there is a nice selling zone with a cluster of Fibonacci retracements and extensions which line up with a strong structure level giving us that high probability reversal zone.
For shorts, IF we continue to the down side there is a D leg which will complete a bulish Gartley pattern at 0.6282
Either way we have a plan.
CTS trade on USDJPYHere on the USDJPY we have a cluster of technical indications that the market wants to go up a little before continuing the downward momentum that we have had recently. This is a counter trend trading opportunity so i do not anticipate a complete reversal at this zone but only a brief retracement back up into the most previous resistance level. Hope you found this post to be educational and best of luck on all future trades!
check me out on youtube for some free educational videos were i go over advanced patterns and other highly profitable trading strategies
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DISCLAIMER: trade at your own risk this information is for educational purposes only and should not be taken as trade advise always seek council from a licensed adviser before ever risking any capitol!
GBPAUD: 4hr TCT opportunity with a Complex Pullback Looking at a potential trend continuation opportunity here on the GBPAUD as the market puts in a complex pullback into previous structure resistance. As we talked about in last night's video, complex pullbacks offer safer entries into TCT opportunities on both the psychological and risk/reward side of things.
As mentioned in last night's video there are different areas you can look fat for target taking depending on your level of aggression as a trader, but the risk/reward is so good that you should be able to maintain your minimums no matter what you're shooting for.
We'll go over this once again in more detail in the Live Room this morning guys.
Akil Stokes
Chief Currency Analyst & Head Trading Coach
]www.TradeEmpowered.com
Youtube: goo.gl
NZDUSD 1 Hour: Potential Short w/a Few Different Entry OptionsDespite an inverse reaction to yesterday's FOMC minutes, I'm still looking to be bearish the USD as we anticipate a rate hike in December. Being a technical trader, my fundamental views won't affect what opportunities I take, but it can beneficial when they both line up on the same side (for those of you who remember the USDCAD trades over the summer).
Anyways, I'm looking for a short opportunity here on the Kiwi (which is also one of the weaker currencies) as we look to retest previous structure resistance for the 3rd time. Yup, 3rd time which means our double top has already occurred and we can now look for a......26-18 for a potential entry.
A little hard to see on the hourly, but the view get's a lot clearer down on the 15 minute chart for you day traders. There's also a bearish Cypher pattern hidden in there for you advanced pattern only traders, or for those looking for an aggressive entry into the 2618.
We'll look at this more in the live room today and remember gang, it's THURSDAY! So that means my Weekend Review video will be out. Make sure you head over to youtube and subscribe as I'll be doing a training lesson on the 4 Stages of trading and the evolution that a trader goes through. Just type "Akil Stokes" in and it'll take you where you need to go.
See ya!
Akil Stokes
Chief Currency Analyst & Trading Coach
www.TradeEmpowered.com
EURUSD: Fibonacci Inversion Trade at Previous StructureNo doubt that Jason Stapleton will be showing this to you guys in our morning Warroom meeting, but we're looking at a potential Fibonacci inversion trade setup here on the EURUSD. We also have a 38.2 fibonacci retracement meeting at that same level and if you look left...well you know what we always say. "Look Left, Structure Leaves Clues"
Akil Stokes
Chief Currency Analyst & Trading Coach
www.Tradeempowered.com
Short On GBPUSD There is potential short on Pound dollar right after price just False break out from resistant 1.5245. Price has retraced to 50% Fib. Retracement. We're looking for price starting to bearish and if it does, we're taking our profit on 1.515 for a 100 Pips. This setup has risk reward ratio 1: 2.
EURUSD: Potential Short Combining Structure, Fibs & HarmonicsI was looking for a similar setup to this earlier in the week but never got the retracement I desired. Now after consolidating and holding at the 1.0700 level, I may be given another opportunity to hop on this downward move.
Because I'm not a trend following trader, I need to be very specific with my entries to ensure that I get a good risk reward. So the further we push up into previous structure, the better the opportunity.
If you'd like to know more about my story and the steps I took to turn trading from a hobby to a career, check out the video I recorded of me speaking at yesterday's Leadership Workshop at Millersville University
tradeempowered.com
Akil Stokes
Chief Currency Analyst & Trading Coach
www.TradeEmpowered.com
GBPJPY 1 Hour: Potential CTS Shortthis was a potential opportunity that I had on my radar yesterday, unfortunately the markets decided to do absolutely nothing but go sideways creating a channel. If we breakout of this channel to the upside I'll be looking at a third harmonic move setting up a potential selling opportunity as we come into previous structure resistance starting at the 187.40's level.
Syndicate members, i just emailed out a video going over this one in a little more detail.
Also Check out my latest Periscope Video "3 Questions From A Prospective Trader" www.youtube.com
Akil Stokes
Chief Currency Analyst & Trading Coach
www.TradeEmpowered.com
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EURGBP - Structure and Fibonacci Cluster indicating a move downBased on structure we can see a down trend in this pair as we are creating Lower Highs and Lower Lows
We are now at the point where the previous high is tested. Also at this level we have a nice fibonacci cluster of the last 3 moves down. All of this for me points in the direction that the pair will move down.
Entry : 0.7165
SL : > 0.7200
Target : 0.7060
Potential risk : +- 35-40 pips
Potential profit : +- 100 pips
Reward-Risk : > 2.5
BEARISH EURUSD 15 Min. Sell channel top. Buy supportNov 3 2015: BEARISH EURUSD 15 Min. Sell channel top. Buy support
(Analysis Based on 15 min chart)
Observations
1. Long term down channel
2. Short term down channel
3. Price at support
4. 15Min RSI oversold at swing low
NOTE: Wait for price action to confirm the importance of these levels.
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BEARISH EURUSD 1H: Sell channel tops; Buy BAT patternNov 3 2015: BEARISH EURUSD 1H: Sell channel tops; Buy BAT pattern
(Analysis Based on 1 hour chart)
Observations
1. Long term down channel
2. Short term down channel
3. Bullish BAT pattern
4. Oversold RSI at 1H swing low
NOTE: Wait for price action to confirm the importance of these levels.
NOTE: This is a counter trend opportunity based on my daily outlook
If you find this information useful. Please hit the LIKE button.
BEARISH EURUSD 1H: Support becoming resistance.BEARISH EURUSD 1H: Support becoming resistance. Wait for bearish price action.
(Analysis Based on 1 hour chart)
Criteria
1. Sell at daily Support/Resistance
2. Sell at daily swing low
3. Sell at channel high
NOTE: Wait for price action to confirm the importance of these levels.
NOTE: This is a counter trend oppertunity based on my daily outlook
GBPAUD SELL SETUPWe could clearly see bearish impulse legs with lower lows with lower highs, We never know whats going to be happen next but with logic I can explain if this bat bat pattern works we might see a LL or a retest of lows.
Unbreakable Rules
1. Never add to a losing position.
2. Never risk more than 5 percent of your trading capital on any one trade.
3. Always have a protective stop in the market.
Guidelines
1. Never close a trade without a reason.
2. Take responsibility for your trades.
3. Markets that have higher lows are in uptrends. Markets that have lower highs are in downtrends.
4. Always do your analysis prior to the market open
EURUSD: My FED Day OutlookAs many of you know today is FED day as the FOMC has its Interest rate Decision & Statement coming out today at 2pm (New York). The expectation is that there will be no changes made at this particular time so most of the “volatility” and “reaction” will be based off of the tone of the statement as trader hunt for any clues of when the rate hike may occur.
This is one of those fundamental events that I stay away from as we can potentially see some massive moves and larger spreads during those moves. Ever been stopped out of a position without your stops actually being hit? Yup!
Although I won’t be trading during it, I still like to perform my technical analysis and see if I can predict where price action may shoot too after all of the madness is said and done. After all I firmly believe that the technicals tell you where the market will go and the fundamentals just help push it there faster.
To the bearish side I have a potential Gartley pattern on the daily along with a level of previous structure support which could prove to be a good holding area. While to the bullish side I’m still eying up the intermediate level of resistance that we were looking at in yesterday’s trading session. (Here’s the video in case you missed it www.youtube.com
There’s more resistance to the upside but its way too far to be attacked today as it’s over 400pips away….but hey you never know, that’s why I don’t try and predict these things.
Akil Stokes
Chief Currency Analyst at Trade Empowered
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BUY GBPUSD at channel bottomBUY GBPUSD at channel bottom
(Analysis Based on 4H and 1H charts)
Criteria
1. Up trend on the 4H chart
2. At channel bottom
3. At daily support level
4. RSI was oversold at channel bottom
5. Slight hidden divergence
NOTE: Wait for price action to confirm the importance of this level.