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Structure-trade

USDCAD: The Rising Wedge Pattern ExplainedAs price action blew through the potential double top that we were watching this morning in the Live Trading Room, we had to throw the idea out and start looking for other opportunities. Currently we have a setup on USDCAD that I really like. It's called a rising wedge. This setup starts with a strong bullish move then as selling pressure starts to enter the market (from actually sellers, and from buyers who are selling to take profit), momentum starts to slow & price begins to flaten out. When combined with divergence on the rsi (and for me) a good level of structure, it makes for a very tasty trading opportunity. So what's wrong with this situation? Well the fact is that we're so close to structure that there just isn't enough room to get a good enough risk to reward ratio. So I'll have to play the sidelines and watch. Now before you think about forcing this trade REMEMBER THIS if there's one thing that we know about trading it's that "THERE WILL ALWAYS BE ANOTHER GOOD OPPORTUNITY" Good luck out there traders! And thanks to all of you that were so quick to comment on my latest video blog!
Short
by Akil_Stokes
34
If you Missed the Breakout, don't worry. Here's your 2nd chance!NzdUsd finally broke above that resistance level that it had been up against late last week. If you missed the breakout, you now have a chance to hop on with a trend continuation setup. Now price has put in a double bottom at this level w/rsi divergence, so you can use this as an entry. I personally use the 60 min for entries, but my trading time frame is the 240 min chart. Since the 240 is my TTF I will use the ATR from the 240 to set my stops. Here on the chart, I have a 2 ATR stop below the low of the double bottom. Target 1 is a retest of the structure highs and target 2 is a Fibonacci extension of the current impulse leg. Now a more conservative place to put stops would be below the lows of our impulse. You can do this, and this is the safest way to place stops. I just personally use ATR when entering on double tops and bottoms. I just put out a video, breaking down this trade along with a few other trade ideas that I will be watching this week. So if you are interested here is the link. youtu.be Good luck and Good Trading
Long
by tommyb35
EURJPY - Bullish 2618+++ Don't forget to LIKE & Follow+++I have my eyes on a potential Bullish 2618 Setup on 15M here on EURJPY, and I think this is perfect counter trend trading opportunity . You may ask why? We don't only have a conservative entry reason in the face of this 2618 but we can stack on it. The Double Bottom(foundation of 2618 Setup) is right at Structure Low - look left on HTF (1H). The 0.618% is right at the V of the Double Bottom - and our kill zone start from there. Not to mention that on left Bottom we have a RSI under 20 with a RSI DIV on 2nd Bottom. You can enter aggressively right @ 0.618 or you can look for alternative entry reason - either way you choose you'll get more than 1:1 Risk/Reward. No matter how perfect this setup is, stops are below this Double Bottom and 1st Target Retest of the cycle high - you can shoot 113.30 for 2nd Target. Good Luck! -Alex I'm a Professional Currency Trader & Mentor with years of trading experience. Download my Free Ebook & transform your trading Today! bit.ly If you'd like to see more good trading ideas from me, click the "Like" button! You can get my trading ideas immediately, just make sure to follow me.
Long
by Aleksandar_Rose
USDCAD: Gartley, CTS & TCT Trading Opportunities Hey traders, the USDCAD as recently just broken a level of previous structure support opening the doors to some new analysis & new predictions. As I break down this price chart the opportunities that I have on my radar are LONG: A bullish Advanced Gartley Formation and a CTS trade featuring an AB=CD pattern at previous structure support. SHORT: If we get a pullback into previous structure a trend continuation opportunity in advance of the potential trades mentioned above. Syndicate members this trade was featured in tonight's video. Non-Syndicate members I just released a video doing some analysis on the EURUSD as well as walking you through the trade that I posted earlier in the week. Akil Stokes Chief Currency Analyst & Head Trading Coach www.TradeEmpowered.com -The Premier Online Trading Education Company Trade Empowered on YouTube goo.gl Facebook: goo.gl Twitter: goo.gl Instagram: goo.gl Periscope: goo.gl
by Akil_Stokes
13
EURUSD: A Very Interesting Scenario--> Bull Trade/Bear CypherInteresting situation that we have here on the EURUSD dollar. 1st and foremost the long that I took on the Sunday achieved initial targets at 1.1148, stops have moved to lock targets in & I'm shooting for 1.1220's to remove the next part of my position. (I'll walk you through this trade in Thursday's Video, if you haven't seen it already) However, we also have a potential bearish Cypher formation which would complete at 1.1192. In the Syndicate I'm all flat the earlier trade because of our 1 in, 1 out rule so I have orders in place to short the Cypher if it completes. However in my personal account I'm going to allow the initial trade to play out and then look to catch the Cypher at a higher level if the opportunity allows me to. I always mention how trading is a "give & take" type of game. Well if you're going to be a trader that shoots for multiple/extended targets, sometimes it means passing up on other opportunities in order to let you idea play out. Unfortunately the hard part is that it also sometimes means making adjustments so that your don't get burnt. That's the part that comes with experience. I'm sure we'll talk more about this in the Live Trading Room today as well as in tomorrow's YouTube video. Akil Stokes Chief Currency Analyst & Head Trading Coach www.TradeEmpowered.com -The Premier Online Trading Education Company Trade Empowered on YouTube goo.gl Facebook: goo.gl Twitter: goo.gl Instagram: goo.gl Periscope: goo.gl
by Akil_Stokes
11