EURCAD RETRACE THEN CONTINUE LONG POSSIBLEAnother pair that could provide a nice continuation move shortly...
100+ pips to the upside...Good Luck!!!
KEEP THE RADARS UP!!!
Pullbackbuy
EURUSD: Looking For Another Buying Opportunity I couldn’t have asked for a better start to this trading week. Unlike last week everything I’ve touched has turned to gold giving me a very nice cushion going into my first real day of active trading. There is a lot on my radar today including the EURJPY, USDJPY, USDCAD, NZDUSD & EURAUD, but I wanted to share my EURUSD idea with you guys since we’ve been tracking this pair a lot as of late (see related charts).
After pulling off massive profits on the big Gartley pattern, the Euro buyers is now giving some relief and I’m looking for an area where they might be interested in purchasing once again. My “A-Kill” zone rests from 1.1015’s-1.0920’s and I’ll be sure to keep a close eye on this pair in the live room looking for opportunities to get long.
I do think we can retest our previous major structure level at 1.12’s but I would be sure to get at least partial profits off at a much safer level like 1.11’s for example.
Here's a link to the blog post i wrote yesterday titled "A Much Needed Easy Day" tradeempowered.com
Also, I’m not sure how many of you use the app Periscope, but I’ll be doing an interview with FXTC Magazine around 4:30pm (Eastern) and they said they were going to stream it live on there. First I’ve heard of the app, but if you’re not doing anything feel free to check it out.
Good luck today traders and remember “Plan Your Trade, Trade Your Plan!”
Akil Stokes
Chief Currency Analyst
www.TradeEmpowered.com
Akil@Tradeempowered.com /@AkilStokesRTM /
Forex Weekend Review Videos:
www.youtube.com
USDCAD: Long at StructureVERY BIG DAY for me today (here's the video link www.youtube.com) and before I call it a night I wanted to share with you one more trade that I recently got involved in. Now I apologize for the short explanation but I'm a little tired after just recording video number 2 tonight, but here's a trade I just sent over to my Syndicate members looking at a bullish trade I just took on USDCAD.
This is a simple structure trade and hopefully my primitive drawing gives you enough info, but one of my main reasons for entry came from watching the reaction of the dollar after this mornings poor Core Retail sales release.
Have a great night gang, I've got a hot meal and a soft couch awaiting me!
Akil Stokes
Chief Currency Analyst
www.TradeEmpowered.com
Akil@Tradeempowered.com /@AkilStokesRTM / Forex Weekend Review Videos:
www.youtube.com
EURAUD: Got the breakout, now Looking for the pullbackAlthough I don’t day trade on Monday’s I have a handful of pairs on my radar for my swing trading portfolio. Multiple patterns on the EURUSD, a few setups on USDJPY, NZDUSD and of course the chart above on EURAUD.
We were watching this pair last week for the bullish breakout and now that we’ve gotten it, the next chance to hop on would be at a pullback. Looking on the hourly we also have a potential bullish bat pattern setting up as well which lines up with what my top down analysis is telling me.
If the buyers want to maintain control over this pair then we shouldn’t see a dip below that 1.48 level as that even handled number would be a cheap price to reinvest.
I’m expecting a busy week in the markets so be careful out there. Lots of news coming out, especially between Tuesday & Wednesday.
Good luck this week traders and if you didn’t get a chance to this weekend, make sure you check out my latest YouTube video talking about market Psychology & why we see the movements that we do.
www.youtube.com
Akil Stokes
Chief Currency Analyst
www.TradeEmpowered.com
Akil@Tradeempowered.com /@AkilStokesRTM / Forex Weekend Review Videos:
USDJPY Trend Continuation Opportunity Long into SupportAfter creating new structure highs last week, the USDJPY is now putting in an outside return back into previous structure setting up a decent looking trend continuation opportunity. I yet have a reason to get long per my rules of engagement, but I will certainly be keeping a very close eye on this setup as the risk to reward is a no brainer for me with stops beneath previous structure support and targets as far up as our previous structure highs.
If any of you guys are around at 10:15am NY time I'm doing an interview with Dale Pinkert and may be reviewing this trade if I end up getting involved www.fxstreet.com
Akil Stokes
www.TradeEmpowered.com
GBPAUD 4 HR LONGTEXTBOOK SETUP. PULLBACK TO THE 38.2 FIB WHICH IS IN LINE WITH STRUCTURE LEVEL. AUD IS STILL FUNDAMENTALLY WEAK, THE CURRENCY NEEDS TO GO LOWER TO SPUR GROWTH SO PAIRING IT AGAINST THE POUND IS A HIGH PROBABILITY TRADE BECAUSE THE POUND IS THE 2ND STRONGEST CURRENCY AFTER THE DOLLAR. WE'VE HAD A TWEEZER BOTTOM AND SUPPORT FOLLOWED BY A HAMMER REJECTING OFF THIS LEVEL. FIRST TARGET ON THIS PAIR IS AT 1.9800
GBPCAD 4 HOUR LONGPRICE AT AN IMPORTANT KEY LEVEL AND JUST BOUNCED OFF THE RESISTANCE TURNED SUPPORT FORMING A DOUBLE BOTTOM. ALSO THIS KEY LEVEL IS IN CONFLUENCE WITH THE 0.5 FIB LEVEL. GBP AVERAGE HOURLY EARNINGS IS EXPECTED TO COME OUT BETTER AT 2.2% AND THE REASON WHY THIS IS IMPORTANT IS BECAUSE THE BOE (BANK OF ENGLAND) SAID THEY'LL BE MONITORING HOURLY EARNINGS DATA. IF THIS DATA DOES COME OUT GOOD WE SHOULD SEE SOME DECENT STRENGTH IN THE POUND. A BREAK OF THE COUNTER TRENDLINE WE COULD EASILY REACH TO THE SWING HIGHS AS I BELIEVE THE UPTREND IS STILL VERY MUCH IN TACT.
