Ilovetrading
EURCHF coming to test the highs again ?I see a bearish Deep Gartley completing at around the 1.0905 level.
Will see how the price reacts to the levels.
EURGBP looks ripe for the pickingThe pair completed a bearish Shark and reacted to the PRZ, we are right back at the PRZ for a Type 2 test.
I also see a smaller bearish Butterfly pattern completing at about 0.7950
Both the H1 and H4 RSI reaching the OB zone
EURCAD Completing a Bullish GartleyThe EURCAD completing a bullish Gartley pattern at 1.4310. Other reasons lining up with this trade
- H4 RSI turning off the OS zone
- The PRZ of the pattern also coincides with the support Trendline drawn off the April 2015 lows
Time to buy Sony?SNE is hovering near the 61% Fib retracement. There is also renewed hope of a positive growth outlook among investors. Time to buy SNE?
AUDCHF Bat pattern short at last week's highHere is another AUD short and this one has good structure to pull off the short unlike the AUDUSD short at 0.74.
GBPJPY turning bullish after that big drop ?As you all would know, I missed the big drop on the pair after being spiked out of my short. (See related ideas)
Now after all this, I am going long for the reasons below :
- Completed a Bullish Shark Pattern
- Forming a falling wedge (bullish indication)
- Bullish Divergence on the RSI
Breaking above the falling wedge would be a powerful indication that the price is ready to move up
Still bearish on the GBPJPYGBPJPY already completed a bearish Bat earlier last week, now a smaller bearish Shark pattern has also completed. Looking to short on the quick retracement.
All ready to short at 162.60 with stops above 163.00
AUDJPY Completing a Shark PatternThe AUDJPY just like the GBPJPY is completing a bullish harmonic Patterns
CADCHF Long before the Big Short ?CADCHF seems to be on my radar this past month. In my earlier trade idea, I was looking to short this pair but it never came up to my sell zone. (See related ideas)
Now the pair has completed a Bullish Bat pattern to go long. The chart is indicating that it might come back for a re-test for us to go long. I'll be watching this pair.
EURUSD setting up nicely for a shortEURUSD completed a Bearish Gartley pattern. Once the indicators are aligned, this should be a good pair to sell.
EURUSD: Next Potential Shorts Part IIYesterday a posted a chart showing some analysis that I did on the $EURUSD trying to predict the next shorting opportunity. Although price action reached my killzone, it didn't rally high enough for me to get short.
Later in the day the market completed a "pain free" bullish Cypher formation, and the ensuing rally has provided me with another opportunity to look for potential shorts in my original killzone with the difference being that this time I know I have an aggressive reason to get short due to the potential Bearish Advanced Gartley Formation.
Akil Stokes
Chief Currency Analyst & Head Trading Coach
www.TradeEmpowered.com -The Premier Online Trading Education Company
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EURUSD: Next Potential Shorts Interesting setup here on the $EURUSD. Structurally speaking I don't have a level that I'm that in love with, however, we do have a Killzone that features some Fibonacci confluence as well as a one to one measured move.
What's interesting is that the potential ab=cd formation (red lines) would also line up with an equal measured move from our previous retracement (pink lines)
Does this mean a sell at that level? NO, i'd prefer a move close to previous structure highs at the $1.12 even handle, but it's certainly something that we'll be keeping an eye on as we venture down to the lower timeframes in today's Live Trading Room.
I've recently been asked by FX Trader Magazine to write another article for them and I wanted you guys to pick the topic. If you have an idea please leave a comment under this video and I'll be choosing 3 that you can vote on by Thursday. buff.ly
Akil Stokes
Chief Currency Analyst & Head Trading Coach
www.TradeEmpowered.com -The Premier Online Trading Education Company
YouTube goo.gl
Facebook: goo.gl
Twitter: goo.gl
@AkilStokesRTM (Instagram, Periscope, Snap Chat & StockTwits)
USDCHF-bullish bias–Falling wedge breakout supports upsideUSDCHF@ 0.9929 - weekly bullish bias – Falling wedge breakout support zone should hold ahead of further upside
USDCHF rallied over 500 bps over the last four weeks (starting from 0.9443 May 2, 2016 weekly low), retracing 61.8% of the 1.0256/0.9443 fall. The bullish bias remains as all the indicators are still pointing upwards. While the 0.9796/0.9740 support zone (April 18 2016 weekly high/May 16, 2016 weekly low) holds the pullback, the next upside target is 1.0092 (near 76.4% of the 1.0256/0.9443 fall). Above there would allow the pair to challenge the 1.0256 (January 25, 2016 YTD peak), just shy of the 1.0328 area (November 23, 2015 multi-year high).
However, failure to hold the 0.9740 area near the falling wedge breakout point would turn the bullish bias to neutral and suggest that further consolidation is likely near term towards the 0.9443 low.
Outlook:
Intraday: bullish
Daily: bullish
Weekly: bullish
Monthly: neutral
Bullish on AUDNZD, moving up from down under. Inspired by a trade shared by one of our students @hongwang in our Inner Circle
The reasons I am bullish on the AUDNZD are because:
- completed a bullish Bat pattern on the daily
- chart pattern traders would have seen the falling wedge formation, it has broken above
- and now a smaller bullish flag formation
I am looking to go long
CADCHF back in focus since the beginning of the monthThere was a big Bat pattern completed at the end of April and the pair made a nice move down.
Now I am looking for the retest of that zone to go short again :
- another bearish Gartley pattern forming
- a nice ABCD move off the lows to complete at 0.7704
- indicators should be aligned at over bought when price reaches 0.7700
Looking to short at these 0.7700 levels
Break or bounce - thats the question ! GBP /JPY has had a nice correction against the long term trend, and has just come into some resistance. I belive this resistance will either drive the price down to new lows, or break out and maybe reverse the trend. Either way there are some pips to be made :)
GBPJPY Bearish Bat CompletingI see a bearish Bat completing on the pair. Will be keeping a close eye on this to take a short.
The Pound reaching resistance : GBPUSD ShortGBPUSD completed a bearish Shark Pattern. We are positioned to limit short this pair. Indicators are aligned at the overbought zone too.
Bullish Bat or the Gartley on EURJPYI see potentially 2 setups happening here, a smaller Gartley and a bigger Bat. Will have to see where the price reacts. The 2 levels I have is at 122.20 and 121.80, probably this 40 pips zone makes a nice buy zone.
