Get started

Fibextensions

USDJPY: A VALID SYMMETRICAL TRIANGLE ON 4 HOUR !!!Hello Traders, Here we have a SYMMETRICAL TRIANGLE on FX:USDJPY , that is formed when neither buyers nor sellers are strong enough to get into a clear trend. Therefore it is considered as a consolidation type pattern. I have labelled targets for both BULLISH and BEARISH breakout, but personally I would favor the BULLISH breakout, due to its direction with the underlying MAJOR TREND . I have also drew in Fib retracement and extension to get a Fibs confluence zone, at previous structure resistance, between 88.6% retracement and 161.8% extension level. See the chart above for more details. The conservative way to trade this pattern would be to wait for a RETEST after the breakout occurs. An aggressive approach would to be go long or short, based on the direction of the breakout, at market price right after getting the breakout. We also have a potential bearish BAT PATTERN completing at the Fib confluence zone. Akil has already posted this pattern, which is why I didn't included it on my chart. So make sure to check out his idea as well: NOTE: For tomorrow, we have Core CPI m/m news @ 8:30 AM and FOMC Meeting Minutes news @ 2:00 PM . So if we DON'T a breakout BEFORE the news release time, than I will NOT be trading this setup. I'll Keep everyone up to date, as we get closer to the news release times. Please feel free to AGREE or DISAGREE with this idea by leaving a comment below. Hit that thumbs up button (top left corner of this chart) if you like the idea. Thank you everyone for all the SUPPORT that you have given me so far, I truly appreciate it. Good luck everyone :)
by moneymaking
12
EURUSD: What's Going On With The EURO???I wanted to title this post What’s Going On With The Euro? Because I honestly don’t have a clue. With the lack of movement in the markets, it’s been really difficult to get a true read on certain pairs since they just aren’t moving too much. With no major news out today and CPI & FOMC coming tomorrow I’m expecting more of the same today. None the less, it’s still important that I go through my I.P.D.E. process and at least make some predictions so that I have some sort of structure (no pun intended) going into the trading day. As I always do with my analysis, what I have drawn on this chart is just a series of harmonic moves and Fibonacci extensions, inversions & retracements. They create a nice zone between the 1.1020-1.0980’s level. With that being said there’s no real level of structure at that level that gives me confidence in a reversal at that area so I’m not actively looking to get long there from a swing traders perspective. Could be a good day trading option if we get the right type of reaction once we hit it. Anyway we’ll see what happens and hey, if you want to see me do this analysis live, I’m testing out a Youtube Live Stream today at 8am New York time. Here’s the link (I think) www.youtube.com but if you’re subscribed to my youtube page you should be notified I believe (based off of the test this morning). Akil Stokes Chief Currency Analysis at Trade Empowered Click here for 20+ hours of FREE Training tradeempowered.com Click the link below to subscribe for more FOREX TRADING videos www.youtube.com Facebook: www.facebook.com Twitter: twitter.com
Long
by Akil_Stokes
46
EURUSD: The Next Potential Reversal ZoneHey guys, it’s great to be back. My body is still adjusting to the time difference but my mind is feeling very stimulated looking at charts once again. I have a few ideas in my mind about the EURUSD for short and long term selling opportunities. The short term opportunities are will be more served for my intraday/day trading so we’ll go over them in my Live Room but my longer term selling opportunity would come if the market were able to push up to our next level of structure. On my chart I marked out a potential reversal zone that lies between structure and a few Fibonacci extensions/inversions 1.1070’s-1.1130’s Big zone, but right now this is a longer term forecast in order to give time to prepare. Although we haven’t been able to take out the 1.0818 lows from back in May, we also haven’t taken out any previous structure highs causing me to believe that we should see some type of reaction at that level. I’ll be keeping an eye on this as it evolves and again, I’ll be looking for shorts today as well in my Live Room, but this is certainly something to keep an eye out for throughout this trading week. Feel free to share your thoughts on the Euro as well as we’ve done a GREAT job of generating discussion featuring different ideas and different viewpoints. Remember there’s no wrong way to trade as long as you’re following your plan, so let’s keep the feedback on these ideas professional. “Plan Your Trade, Trade Your Plan” Akil Stokes Chief Currency Analysis at Trade Empowered ----------------------------------------------------------------- ----------------------------------------------------------------- Click Here for 20+ hours of FREE Training tradeempowered.com ----------------------------------------------------------------- ----------------------------------------------------------------- Click the link below to subscribe for more FOREX TRADING videos www.youtube.com Facebook: www.facebook.com Twitter: twitter.com
Short
by Akil_Stokes
68
EURUSD: Been Waiting All Week & Finally Got My ReasonAfter stalking the EURUSD this entire week, price action has finally made its way down into my kill zone and has also given me a reason to get long in the form of a bullish bat pattern that completed during the early London session. There are so many ways to take targets on this trade and instead of laying them all out I’ll just ask you these questions. Why are you involved in the trade (advanced pattern or trend continuation)? And (of course) What do your rules say to do? I know you guys hate hearing that, but hey, that’s the reality of trading. Each of us are different and as I tell my clients, your trading style should match your personality making it fit you like a fine tailored suit. BIG NEWS OUT AT 8:30 eastern! We’ve got USD: Advance GDP, Trade Balance & Unemployment. This should certainly give us some action early on in the New York session so be careful. The underlying market sentiment still looks to be very bullish the USD especially since yesterday’s (lack of hawkish tone) FOMC statement showed little movement before being shaken off my the market. Yesterday’s USDCAD didn’t go my way and if you’d like to read about it here’s the link to my trading blog. tradeempowered.com Also it’s Thursday so that means my weekly video is coming out so make sure you head over to YouTube and SUBSCRIBE to my channel, that way you don’t miss it. I’ll most likely be talking about dealing with failing strategies and looking at equity curves…we’ll see. Good luck today traders and let’s ROCK the markets on this wonderful Thursday! Akil Stokes Chief Currency Analyst www.TradeEmpowered.com Akil@Tradeempowered.com /@AkilStokesRTM / Forex Weekend Review Videos: www.youtube.com
Long
by Akil_Stokes
76
EURUSD: Potential Bearish Bat PatternIt's Friday...I'm feeling burnt out, so we're going to keep it really simple today. Potential Bear Bat Pattern. There you have it. It is pretty cool that we get some extra fibonacci confluence in the form of an 61.8 retracement & a 161.8 extension but at the end of the day the pattern is all that really matters to me. Other pairs on my radar today are the GBPJPY, USDJPY, EURAUD (SHort) & USDCAD If you didn't do so yesterday make sure you check out my latest YouTube video "Simple Technical Analysis & Why Markets Move" www.youtube.com Have a great weekend traders! And of course Live Room/Syndicate members I'll still see you today in an hour or so. Akil
Short
by Akil_Stokes
29
AUD/JPY BEARISH GARTLEY PLUS DOUBLE TOP OFF 0.382 RETRACE POTENTIAL COMPLETION OF XABCD PATTERN ON AUD/JPY, WITH THE COMPLETION LEG FINISHING ON THE 0.382 RETRACE OF LONG TERM SWING HIGH/SWING LOW. A BEARISH REVERSAL CANDLE ON 30M TIME FRAME MAY ADD TO FURTHER CONFIRMATION OF SHORT TERM SELLING, WITH THE 91.30 HANDLE ACTING AS STRONG STRUCTURE RESISTANCE. DAILY SUPPORT ACTS AS A NICE POTENTIAL PROFIT TAKING AREA, SHORT TERM SELLING CANNOT BE RULED OUT - RSI PIERCING THE OVERBOUGHT MEDIAN LINE ADDS FURTHER CONFIRMATION.
Short
by JoeNeilCarey
3
GBPUSD: Trend & Counter Trend Opportunities I have a handful of trades on my radar today but I wanted to concentrate on the GBPUSD this morning because of the multiple opportunities. The main trade that I’m looking for is the Bearish trend continuation setup. This market has clearly broken structure to the downside and if we get relief we have an excellent structure level to predict where our next pullback will come to. We’ve also just come into a minor support level which may offer counter trend traders a buying opportunity. This will be something that I dig into during my live room on a smaller timeframe (waiting for confirmation ofcourse), but with the RSI buried, minor structure and a little Fibonacci ratio confluence, my eyes are certainly looking for a chance to buy the GBPUSD as the bears become exhausted. We had a good day in the Syndicate yesterday. I went 1 for 2 and I’m pretty sure Jason went 2 for 2 on his NZDUSD and GBPJPY shorts. Also on my radar today is the GBPAUD, EURJPY (already long), GBPJPY (already long), EURUAD and AUDCAD Akil Stokes Chief Currency Analyst www.TradeEmpowered.com Akil@Tradeempowered.com /@AkilStokesRTM / Forex Weekend Review Videos: www.youtube.com
by Akil_Stokes
8