Bear Advanced Pattern FormationWe expect to a have a retest of structure, then up to our previous resitance, and then hit our target :)
26.18
Double bottom at a major SnR level We have double bottomed at a major SnR level in this pair looking for targets up to 127.034 before we get short
EURUSD: The Next Potential Short on Euro, Bearish 2618As price action makes its way back up towards previous structure highs, we’ll reach what I like to call a “decision point” in the market. I call it that because it’s at this point where our “IF/THEN” thought process comes in today play in our decision of whether to go long or short.
Because we have yet to break structure, I won’t touch on the long option, but the short option is playing this current move as a 2618 trade. We have already entered the killzone starting at 1.1120’s and at this point I would be dialing down to your lower timeframes and looking for an entry reason.
IF this 2618 does complete and rollover, it would also be the “C” leg of a potential bullish bat pattern. You guys know how I feel about the “aggressive C” trade (BAD! BAD! BAD!) but this would be one that actually makes sense, only because you have a valid reason to enter.
I’m feeling horrible today as I’ve caught a cold from somewhere, but with A LOT on my trading radar (Syndicate members, take a look at the tradefloor this morning) I don’t want to miss what could be a day ripe with opportunity.
(If you’re unfamiliar with the 2618 trade, the free training is on our website under the “Learn to Trade” tab)
Akil Stokes
Chief Currency Analysis at Trade Empowered
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XAUUSD: Gartley Pattern Completion w/2618 on LTFA Gtartley Pattern completion with a double bottom and now 2618 opportunity on the lower time frame. I wouldn't trade it was a gartley and attempt to use 2618 stops, but you can certainly look to protect profit or shoot for extended targets based off of the higher timeframe pattern including the potential bearish cypher that still exists
GBPUSD: Part 2 The 2618This morning I posted a trade idea titled "3rd Times The Charm" In this idea I mentioned that i had previously taken 2 losers on this particular currency pair the day before and was ready to reload once again for another shot at getting short. Well that trade payed off as our double bottom/ Bat pattern (LTF) rolled over without much pain this morning and then even more so after this afternoons fundamental action.
For those of you who took the trade congrats. For those who didn't the next opportunity to get short will come in the form of a 2618 setup. Here's a link to a FREE training that we did on the 2618 if you want to learn the strategy. www.youtube.com But essentially what we're looking for is the break and close below the initial double bottom (signifying a rotation in trend) followed by an outside return into the 61.8 or structure. typically targets are taken at the retest of the latest impulse leg and some sort of extension whether it be the 1.272, 1.618, ac=cb or just future structure.
EURUSD Counter Trend TradeGuys EURUSD has put in a double bottom at a big support level o the daily. Hourly chart shows some signs of a rally. Be careful with this one. The reversal zone is wide. This is a good spot for the 26.18 trade and it hasn't quite completed yet.
26.18 Buy setting upFor those of you who follow me in the Syndicate each morning, you'll recognize that we made money playing this double bottom on Friday. Well now the market has set up a nice 26.18 trade. Should be a buy at the open.
