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EURNZD - Breakout RetestHere's something that we just took a look at in the Live Room, while watching Yeelen's Testimony. EURNZD (Which is a pair I don't trade, for those who think I trade every idea that I post) is has rallied toward previous structure highs and is now retracing back down into the previous pennant pattern highs. Although I wouldn;t be looking for a full trend continuation move here, I certainly think there is the opportunity for a trader to involve themselves in a low-risk trade looking for a retest of the highs. Akil Stokes Trade Empowered "Plan Your Trade, Trade Your Plan"
Long
by Akil_Stokes
6
USDCAD: Stopped Out Earlier But Still Looking LongThis morning I got triggered & stopped out of a long entry in a matter of seconds thanks to some beyond positive Retail Sales news for the Canadian Dollar. Price has now retraced lower & nothing has changed much with my overall analysis for this pair. I still have my eyes glued to this pair for another potential buying opportunity and I won't let the 18 pip loss earlier today scare me away. After all, if you're going to lose, lose small that way it doesn't hurt you psychologically or monetarily. If we can get a retest of structure with a hold, that will allow me to put myself in another position that offers a great potential reward with very minimal risk. Akil
by Akil_Stokes
22
USDCAD: Eyes Still On A Long Opportunity If you've been following me over the past few weeks then you know that I've been waiting on opportunities to get long on the USDCAD. After consolidating and holding at previous structure lows (daily), we've now seen a bullish rotation on the hourly. It's important to remember that a "rotation" doesn't mean a trend, rather just the 1st leg of the 3 point move needed to establish one. If price were to retrace, it would offer us an advanced bat formation which could be used as reason for entry. News events this morning, including CAD - Core Retail USD - Unemployment (8:30am NY) & the release of a the GOP Healthcare Bill (9:30am NY). Syndicate Members, I'm having login issues so i can't upload any videos to the Members site, but I shot one through the TradeFloor this morning walking you through this setup. Akil
Long
by Akil_Stokes
11
GBPJPY: Looking Short Once AgainThe GBPJPY aka "The Beast" has been my favorite pair to day trade over the past few weeks. If you're familiar with this pair then you know that when it moves, it moves big & I've been able to get on the right side of those moves on my last few attempts, including the trade I shared with you guys yesterday. Once again I'll be looking for day trading opportunities on the pair today starting at the 142.50's level. Currenty (6:30am NY) we just completed a bearish Cypher on the 15min which I'm sure some of our traders are using for an entry reason. Akil Stokes
Short
by Akil_Stokes
6
Merck & Co Inc on Possible Wave Y Completion?It seems that we may have a possible Wave Y completion on the Intermediate Period, with a wave 5 on the Minor Period confirming it. On structure breakout, it is possible that we may see the start of a SHORT on a wave 1 minor of a wave 1 Intermediate. MACD suggests slight upwards movement before a bearish move at the breakout of structure. Stochastic already displays overbought position and likely move downwards as well as RSI suggests overbought position already completed and bearish movement possibly imminent on breakout of structure. Additionally, my guess is that due to looming lawsuits regarding Vaccine safety as well as gender bias lawsuits, has ultimately influenced investor confidence and is now starting to net the results of this. ---------------------------------------------------------------------------------------------------------------------------------------------------------- DISCLAIMER: This chart is for sharing and educational purposes only and is not intended to be a signal service or similar. This chart analysis is only provided as my own opinion, based on my own analysis and comes with absolutely no warranty that this analysis is correct, whatsoever. Do not trade this chart if you do not have your own strategy. Trade only with your own strategy at your own risk. Plan your trade and trade your plan... and IF in doubt, stay out. .....::::: If you like this chart, please click on the THUMBS UP ! :::::..... ----------------------------------------------------------------------------------------------------------------------------------------------------------
NYSE:MRKShort
by UnknownUnicorn661419
AUDUSD: Potential Bearish Trend Continuation Trade Opportunity Hey traders what I'm looking at in this chart is a potential Bearish Trend Continuation Trading Opportunity on the AUDUSD. Price action has provided a little bullish relief after the Friday Job's report and as we get a retracement back into previous structure levels we're offered an entry opportunity for anyone looking to get involved in a bearish move. If you want more details on this trade and my fundamental views heading into this interest rate week then check the signature box below & I'm sure you can find a place where I talk about this trade in more detail. I'm off to finish up a little continued education & get ready for selection Sunday for you college basketball fans out there. Best of luck in the markets this week and as always be safe out there!
Short
by Akil_Stokes
13
GBPCAD - Definitely a good opportunityGBPCAD Shows bullish MACD Divergence on the daily, based on three points, so we could expect an upmove. I'll post the daily chart in the comments. On the 4 hour (this chart), we can see a structure that would end up in a breakout. I'd say that the small flag (blue lines) would go down to retest the bottom blue line, and then it could break out to the upside. If we look at the previous impulse (900 pips in 10 days), we could expect a nice move in the next weeks.
Long
by bbatrading