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Ilovetrading

GBPCHF Double TopComing off an impressive long from last weeks bullish bat pattern, the pair has now come back to retest previous structure highs. Although i wouldn't consider this to be the optimal structure level, the risk reward that is available on this trade makes it worth the take. A single ATR stop above the highs provides me with a less than 20pip risk (if i'm wrong, I want to be wrong fast) , while a move into previous structure would offer more than 30 pips in potential reward. Check out my youtube page a little later to see how we broke this down in today's Live TRading Room session www.youtube.com
Short
by Akil_Stokes
3
USDCHF Bear Bat Follow UpFollowing up on an idea that I posted last week. The USDCHF is now at a point where traders who are aggressive with their risk management can look to roll and trails tops with structure (on the 4hr TF) One of the most important lessons that I've learned over the years from my personal trading and from my time as a money manger, is that how you manage a trade once you're in it, is almost as important as finding the right entry. The key to success is CONSERVATION OF CAPITAL. We are going to be wrong in this industry and wrong alot. The key is to learn to tell when we are wrong and cut our losses before they get us in trouble.
Short
by Akil_Stokes
6
Bullish Bat at Previous Structure lowsI'm a little late on getting this idea posted, but we had an abundance of advanced pattern trading opportunities setting up as my live trading session came to a close. Some have since rallied and some have been stopped out. This particular one is still at market and for those who like to take more of a conservative approach, may be putting in a retest of structure in the form of a double bottom. Take a look at the RSI as well, significantly oversold. I've been doing a lot of work with this pair over the past month or so and this pattern happens to be in line with my underlying prediction for the pair. Coming back into previous outside returns provides a nice structural level to place stops. Hopefully we'll see another bounce off of this area and make our way back up to the 53 even handle. Have a great weekend traders, and if you missed it yesterday, here's the link to my latest Weekend Review video www.youtube.com AKil
Long
by Akil_Stokes
4
USDCHF Daily Bearish Bat PatternWith not a lot going on in the markets thus far this week I started venturing outside of my usual trading portfolio to fins some ideas I could share with my Syndicate clients. This was one that really popped out to me. In light blue is a bearish bat pattern with some extra Fibonacci confluence within my killzone. More importantly is the large bearish candle that exist 2 bars from the "X" leg. I've been looking into these types of candles over the past few months and although I haven't finished my personal studies on them, I can tell you that the area around them seem to act as great potential reversal zones. This one happens to be an "X" leg which means previous structure highs as well. As I told my Syndicate members if the pattern itself is too large for your liking, keep an eye out for when price action enters that killzone and see if you can use a lower timeframe technique to involve yourself in the trade. *I've been getting some positive feedback from this mornings blog post so here's the link if you wanted to check it out. ratiotradingmentor.com
Short
by Akil_Stokes
2
EURAUD 4 HR: Pattern Entry for Trend ContinuationI'm looking at two things here on the EURAUD. Bigger picture is a potential bearish trend continuation trade as price action looks to make a retracement into a previous shelf of structure. Around that same level lays a potential bearish butterfly pattern completing at 1.618 & 1.272 Fibonacci confluence. Adding to that we have more ratio confluence in the form of a 78.6 & 50% Fibonacci retracements from previous structure highs. Just for a little added confidence this potential butterfly would complete a the 1.44000 which is a psychological round number. If you didn't see it already (shame on you, lol) I broke down this trade in my most recent Weekend Review video on YouTube. www.youtube.com Today's my off day, but I wish you guys a great week of trading! Akil
Short
by Akil_Stokes
2
GBPCHF Bat Pattern Retesting Previous Structure HIgh'sI've been a bull on this pair over the last month or so but now I've got a short opportunity on my radar looking at a retest of previous structure highs on the daily. As a counter trend trader it's important to realize that I'm not looking for the big long-term move, simply a brief correction. If this correction rolls over more than expected there's a 2nd potential bat pattern down at our previous structure lows giving true trend continuation traders an excellent spot to get involved with an outstanding risk/reward. *Had issues posting them together but check out my ideas for the daily view of this chart relating to my comments*
Short
by Akil_Stokes
4
GBPCHF Bat Pattern at Daily Highs'* I tried to post another chart with this showing the advanced pattern, but think I messed up doing so. I'll keep trying but here's the daily view that was suppose to compliment my other chart** SORRY GUYS I've been a bull on this pair over the last month or so but now I've got a short opportunity on my radar looking at a retest of previous structure highs on the daily. As a countertrend trader it's important to realize that I'm not looking for the big long-term move, simply a brief correction. If this correction rolls over more than expected there's a 2nd potential bat pattern down at our previous structure lows giving true trend continuation traders an excellent spot to get involved with an outstanding risk/reward.
Short
by Akil_Stokes