USDJPY: Bull Pattern In Bear Market (Part II)Traditionally there are 3 ways to trade a breakout all depending on your level of aggression as a trader. The before the breakout and actual break has already completed which means waiting for the retest is the only option left for those looking to get involved.
I'm saving it for my Weekend Review, but I've been recording the analysis of this trade as well for those who learn better from seeing and not just reading. I'm not sure if I'm going to use it or not (it all depends on what lessons we discuss in the live Trading Room this week) but keep an eye out for it on my YouTube page.
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)
Ilovetrading
AUDUSD Long on the hourly chartInspired by #SkyrEk mentioned of AUDUSD on my post. Amazing you detected your AUDUSD post back in Jan 2016
On the hourly chart, AUDUSD completed the bullish Bat pattern and is already moving out of the PRZ. I am not in this trade as I saw this late. I will probably let this go since I am late on this, unless it comes back to the PRZ again tomorrow.
My USD weakness play : Short USDCADThe pair completed a bearish Shark pattern last week and I missed that trade.
This week it has came back for a Type 2 retest. As I was preparing my midweek analysis of the market on our HarmonicForex.com website, I might have missed this trade AGAIN. Apologise for this late idea. Lets see if it comes up to retest 1.2980/1.3000 levels again
GBPJPY: Potential Bearish Advanced Bat FormationWhile the EURJPY has about 4 Gartley formations on the horizon, the GBPJPY is nice and simple with a single advanced bat formation set for completion at the 161.70's level.
Make sure this trade meets your risk profile as the stop may be larger than it seems because of the pairs ATR.
Also here's a link to the periscope video that I did this afternoon for the FOMC minutes were releases discussing trading and news events. it will expire on Thursday at 1pm (NY) and I won't be uploading it to youtube .
www.periscope.tv
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)
Still believe in the USD Weakness to come, this is why.I have not used the MACD indicator for quite sometime, but this afternoon's discussion with a fellow trader made me look at MACD again today.
The USDollar Index is approaching the resistance trend line and at the same time, the MACD is showing us a bearish divergence. Price made a higher high, but the MACD made a lower high. As what all indicators do, they give us a probable indication of what is to come (remember nothing is certain).
Hence I am looking for trades with USD weakness
EurUsd Bullish BiasEurUsd market at this stage is looking biased for Bulls atleast for the short term or intraday trading. At this time as I publish this one liquidity is not enough in Asian session tomorrow as the liquidity picks up we might achieve our targets. I don't know much about findamentals but technically market is gathering for a bull move may be after FOMC minutes tomorrow. If we don,t get our target before FOMC then its gonna go up big time right after FOMC minutes release.
USDJPY: Bull Pattern in a Bear MarketFollowing up on a topic we covered in last week's Monday session. Here's a perfect example of how you can have a trading opportunity that is both Counter Trend & Trend Continuation at the same time.
Remember gang, the market moves in fractals, meaning there are moves within moves and trend withing trends, within trends.
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)
GBPJPY: Advanced Bat Formation Near CompletionPotential Bearish Bat Formation near completion on the GBPJPY with a "D" completion at 157.18
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)
EURJPY to continue the uptrend ?? Smaller TF telling me soHad a good ride up and took profits on the EURJPY since last week.
Now looking to re-enter the long position based on a smaller time frame trigger
(Word of caution : Smaller TF trigger will be killed if the pair decides to do a larger retracement)
Prefer to enter long around the 123.60 levels
USD rally potentially coming to an end - USDCAD ShortThe USD really for the past week has been amazing. We caught a nice short on the NZDUSD from the highs of 0.7020 taking profits of +220pips at .6800.
Now I see this USD rally potentially stalling, USDCAD just completed a Bearish Shark Pattern. Looking for price to react at around the 1.2990/1.3010 levels. Expecting RSI to move up to test the OB zone once more before the big drop.
GBPUSD: 4 Hour Potential Bullish Cypher FormationPotential Bullish Cypher Formation @ 1.4398. Because of the amount of risk on this trade I won't be entering at the normal "D" completion point, rather a lower level within the killzone.
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)
Taking a short based on the EURGBP Bearish BatEURGBP completed a bearish Bat pattern (there is also a bearish Shark pattern at around the same zone). Looking to short anywhere from the current price (0.7904) to the highs of 0.7910.
Targets set at 0.7840, the 50% retracement level of the recent move up from the lows
EURUSD Main bias is LongIn daily TF EURUSD is accumulating orders for up move. The power level below may be the last place where unfilled order may be before the bigger move.
Our recommendation is to search for Long opportunities in with in the zone, with conscious to the compressed areas. in which you take tactical shorts. FX:EURUSD
AUDUSD Divergencia en 15 min. Posible cambio bajista en el AUDUSD. Japón emitió el reporte del último anuncio de la pasada desicion sobre la política monetaria con cierto aire positivo lo cual debería ofrecer algún soporte al Yen. De cualquier manera se debe seguir el petróleo que tiene algún campo alcista al menos hasta la resistencia que podría alcanzar antes de considerar que pudiera retomar la tendencia bajista.
AUDUSD Will not be immune to macro-trendsComparado con puntos de precio del pasado entre sus correlaciones el AUDUSD muestra una fuerte sobre-valorización como lo he explicado antes en VivirGanando.com La recien subida se ha debido a la demanda de la moneda por la inversión extranjera en Australia. Pero se debe prestar atención al fuerte aumento en sus niveles de deuda y el impacto de una tendencia alcista para el plan actual de una transición a una economía de servicio. El flujo de capital de los inversionistas no ha sido lo suficiente para cubrir los efectos de la contracción en China y la economía global. El AUDUSD se verá forzado a caer, sea por una corrección o por la fuerza directa del RBA.
When compare with pass price points among its correlations the the AUDUSD shows exceedingly overvalued. This was due to recent demand for the currency from outside investors. But one need to pay attention to existing debt levels and the impact of the currency uptrend on today's plan to transition into a service economy. AUDUSD will be forced to lower levels either by correction or the direct influence of the RBA.