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Akil_stokes

EURJPY: Previous Structure Resistance Well if you've been following my daily trading blog then you know that I've been on a pretty good streak as of late. Funny how that goes hand in hand with me NOT posting to Tradingview for a week. of course that means that I've probably jinxed this trading opportunity..oh well too late now. Similar to the AUDUSD, GBPUSD, NZDUSD & Silver trades that we've been looking at this week, price is at a point where it is retesting a previous level of structure support. Although we've had a bullish rotation here on the hourly, this is the first real test of the lows of our previous sideways channel. Seeing how we traded in that channel for a good period of time I would anticipate some selling pressure at that level both from new sellers entering the markets and bulls taking profits. Hard to see on this chart because it's zoomed out, but we also have the same type of price action leading up into the zone as we did with the GBPUSD meaning the high momentum move followed by the fading rising wedge.
Short
by Akil_Stokes
8
USDJPY: Double 2618 Chart From This Week's FMPHere's the chart of the trade that we went over in today's Forex market Preview video. If you didn't see it, make sure you get over to youtube & do so, but what we're looking at is a double 2618 opportunity. The bigger potential 2618 is located on the daily timeframe while the smaller one exist on the 4 hour. This chart is of the hourly timeframe where we took a look at how one can dig deeper into the analysis if looking for a more conservative entry at a higher price point.
Short
by Akil_Stokes
17
USDJPY 4HR- The Decision PointFirst & foremost I want to wish you all a happy new year! If you had a successful 2016 I wish you the same & if you didn't then I hope that you did what was needed to change that in 2017. As I wipe the rust off of my eyes & remember had to look at these price chart thingys a pair that is on my radar is the USDJPY as price is making it's way to a decision point. What I mean by a decision point is a level where I would be looking for either a buying or a selling opportunity all depending on how price action reacts once in that area. It's important to understand that in trading it's not our job to tell the market what it's going to do. We need to listen for the market to give us clues, then look to involve ourselves once we're able to make an educated guess In this case a failure at this level would cause me to look for shorts, while a breakout would have me looking for longs. (Oh and you those asking YES this would also be considered a 2618) Good luck this week traders, I'll be trying to continue my daily blog on my personal youtube page, that way you can follow my journey as I start year 9 (wow I'm getting old)!
by Akil_Stokes
47
AUDUSD: Bearish Advanced Gartley & Bat FormationsNot too much on the radar today, but I was able to stumble across an at market short opportunity as I made it to the end of my trading portfolio this morning. What we have here is 2 Advanced Pattern Formations completing at essentially the same price (7265 v 7268). This year I'll be continuing to release The Trading Blog in video format if you want to follow my journey through the markets. I'll try to do it daily, but you know, sometimes life gets in the way.
Short
by Akil_Stokes
23