GBP/AUD - Possible short term reversal on HTF with LTF entryOn the daily chart price has been bulish 7 out of 8 days and if bulls are able to remain in control a move towards 1.7750 is very likely in my opinion. I am looking to benefit from such a move with a lower time frame entry. Looking to go long from the 1.7250 area with my primary target just shy of 1.74 and my secondary target at 1.7750.
Pullbacktrade
EURGBP: Return To Structure Part 2Just to follow up on the EURGBP trading idea that I shared a few days ago. I'm still looking for a pullback down to the 0.8400 level as being the optimal level for bulls. However, as price has evolved over the past few days we may also have a closer level as well between 0.8520's & 0.8450''s especially if you're a day/intraday trader looking at the lower timeframes.
We'll be keeping an eye on this level in the Live Trading Room today, but bigger picture I still like the 0.8400 level more.
Akil Stokes
Chief Currency Analyst & Head Trading Coach
www.TradeEmpowered.com -The Premier Online Trading Education Company
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CYPHER FINISHING ON 1H NZDJPYA Cypher potentially coming to a finish on NZDJPY 1H currently on a pullback of the CD leg. Fib extensions and previous structure suggest perhaps a trip to the .886 retracement but entry is @ .786. T1 @ .382 of CD leg moving up stops once it is reached. Risk Reward is not fabulous but it´s in an upward overall trend.
EURUSD 4 Hour: Potential Bullish 2618 (Part 2) Higher SupportYesterday I mentioned that we have the potential for a bullish 2618 opportunity on the EURJPY 4 Hour. As we dug down to our intraday trading timeframes in yesterday's Live Trading Room session we identified another level that could end up giving us our first chance at getting long.
We'll see what the market has in store for us today, but this could end up being a similar situation as the example I provided in last week's trading video about EURAUD and how it's okay to look for multiple opportunities during a retracement
Akil Stokes
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www.TradeEmpowered.com -The Premier Online Trading Education Company
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State Bank of India (SBIN) - Intraday TradeHappy Vishu :)
Note : Gap up happened previous day (190's - 191's ), so market will expect to fill the gaps and as expected if it fills the gap, it will be in our marked zone for Buy.
This trade may extend for a day or so if market movements are little slow.
Though its risk:rewards little more than 1.1, its good trade as per my trade rules.
Follow your Plan, Happy Trading !
GBPJPY: Bear Gartley Formation (Follow Up On Last Week's Video)Following up on the video that I shared with you guys last week, making a few predictions on the GBPJPY. We are now approaching a retest of the "B" leg for this potential Advanced Gartley Formation. (By the way well done 2618 traders!)
If you remember I was looking for a trend continuation opportunity & this advanced pattern formation would be a perfect entry point as it approaches our previous minor level of structure.
Best of luck with your trading this week!
Last week's trading video on the GBPJPY www.youtube.com
Measured move objective (ABCD) coming in at major supportSteadily gaining since the end of last year, this pair has recently broken through a key resistance level around 0.79000 after putting in a daily breakout pattern.
The swings on the 4 hour chart are very harmonic and even in size. They are increasing in time though. If we get a weak pullback into the zone around 0.79000 which lines up with the measured move objective for the pullback I am looking to go long with my first target around 0.80000 even and second target at 0.80800.
EURUSD: Daily Bearish Bat Pattern Setting Up I initially thought that Thursday & Friday would be our breakout days this week but it looks like the party has started a little early. Setting up on the EURUSD daily chart we have a potential bearish bat pattern completion up at the 1.1393-1.1500 level.
I'm not a daily chart trader, but i will be looking intraday for an opportunity to hop on a retracement and see if I can ride the wave up to this level.
It's Thursday so makes sure that you're subscribed to my youtube page as you don't want to miss today's video release. We'll see how the day goes but we may be talking about this trade in more detail.
Akil Stokes
Chief Currency Analyst & Head Trading Coach
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Is it safe to SELL GBPUSD now or not?This is the best set up ever. The market is below the 200ma thus confirming that the market is on a strong downtrend. We are experiencing some pullbacks on the 20ema. The CCI is on the oversold. The market is geting ready to continue with downtrend. I am take a short position targeting 30 pis or take profit when CCI gets to the over bought. Stop loss can be placed at the 200ema
Very nice set up with guaranteed 60 pipsWe have a nice pull back in this downtrend. The market is getting ready to reverse and continue with the downtrend. We also have a strong divergent and low volumes this ensures us that the market is about to reverse and continue with downtrend. We are targeting 60 pips from this set up.Stop loss around 40 pips.
AUDCAD: A 2nd Chance To Hop On The Trend with Video ExplanationI'm looking at two opportunities her eon the AUDCAD hourly chart 1) A Trend Continuation opportunity and 2) A bullish Cypher Pattern. Now of course you can combine the two, but when working with newer traders my advice is to pick and master a single strategy first, then add or start to combine later in your trading career.
If you're new to following me this was a trade that we looked at earlier in the week so make sure you check out that post. I also reviewed it in my YouTube video last night so make sure you check that out if you're the type that picks up things better by watching. Good luck as we enter our final trading day of the week, I know those of you that trade advanced patterns on the $EURUSD are probably already starting the celebration a little early. ;-)
Here's a link to the youtube video talking about the AUDCAD www.youtube.com
Akil Stokes
Chief Currency Analyst & Head Trading Coach
www.TradeEmpowered,com -The Premier Online Trading Education Company
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