Patern
NZDUSD seems like we can have a reversal patern here...NZDUSD seems like we can have a reversal patern here...
EURUSD: The Next Potential Short on Euro, Bearish 2618As price action makes its way back up towards previous structure highs, we’ll reach what I like to call a “decision point” in the market. I call it that because it’s at this point where our “IF/THEN” thought process comes in today play in our decision of whether to go long or short.
Because we have yet to break structure, I won’t touch on the long option, but the short option is playing this current move as a 2618 trade. We have already entered the killzone starting at 1.1120’s and at this point I would be dialing down to your lower timeframes and looking for an entry reason.
IF this 2618 does complete and rollover, it would also be the “C” leg of a potential bullish bat pattern. You guys know how I feel about the “aggressive C” trade (BAD! BAD! BAD!) but this would be one that actually makes sense, only because you have a valid reason to enter.
I’m feeling horrible today as I’ve caught a cold from somewhere, but with A LOT on my trading radar (Syndicate members, take a look at the tradefloor this morning) I don’t want to miss what could be a day ripe with opportunity.
(If you’re unfamiliar with the 2618 trade, the free training is on our website under the “Learn to Trade” tab)
Akil Stokes
Chief Currency Analysis at Trade Empowered
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USDJPY: Potential Bearish Bat Pattern w/ Supply Zone Not too much on my radar today, which is perfect since I prefer not to be actively trading on Monday’s. With that being said, something that I have my orders locked and loaded on for later on is this potential bearish bat pattern on the USDJPY completing at 125.09 right around a 4hr supply zone. This one may also be worth watching as it approached 125 even as we know how these psychological numbers affect price action.
Last week was one of our rougher week’s in the Syndicate program. If you’d like to read about it check out the blog post I wrote reviewing my 33rd Week of Trading in 2015. tradeempowered.com
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
Butterfly Pattern, EUR/AUD, 30minHere we see a butterfly pattern completed on the Eur Aud 30 min chart.
We know that butterfly patterns often rally to the 1.618 extension of the BC leg, so that is where our limit is at.
Our entry is at point B and our stop is at point D, giving us a 1.39 risk to reward.
I believe the rally will take place over the next few hours.
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Thanks guys, and Good Trading!
