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Structure-trade

EURUSD: Looking for Shorts at this decision pointIf you saw my post yesterday then you know that I’ve been waiting for a potential short on this pair. (Here’s the video link explaining the trade www.youtube.com) My initial killzone was pretty large and after a brief test of the bottom levels of it, price has rallied back to the top providing me with the opportunity that I was waiting for. The reason I didn’t enter the trade yesterday was strictly due to the fact that I wouldn’t get the risk reward that I wanted. Risk reward will still be difficult at this level because of how close the structure levels are but if I’m able to get the entry that I want, my stops may be short enough to make it work. The London session extension gave us another equal measured move back into structure looking left and some Fibonacci extensions. The bulls gave a nice test of the highs and were beaten back after the first attempt to break through. As I type I’m watching this on the 15 minute chart waiting for a reason to enter, all depending on how this current candle completes. For targets I’ll be looking for a move back down into our previous new structure highs, and certainly looking to aggressively manage this one during my live trading room hours. We’ll see how this one pans out “Plan Your Trade, Trade Your Plan” 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
Short
by Akil_Stokes
24
EURJPY: Potential 2618 Trade with (How to video in description)Here on the EURJPY we have a potential 2618 setup in the works. I say potential because I have no clue what the future of this current leg is, all I can do is Identify, Predict, Decide & then Execute. Here’s a link where you can take the FREE training on this particular strategy (tradeempowered.com ) but essentially, what I’m looking at is a double bottom signaling a reversal and a retest of that that simple pattern as a way to hop on the next leg of the move. Slow trading this morning were you guys over in London fast asleep? Anyway, aside from this setup all I’ve got is the GBPUSD, EURAUD and GBPAUD on my radar this morning. I think GBPAUD is a steal of an opportunity, hopefully I’ll have a reason to get involved this week before I head out of town. The last thing I want to do is be worried about how my trade is going while up in the air. As always good luck today traders and below are some links if you’re interested in any more free trading content. ------------------------------------------------------------------------------------------------------------------------------------------------------------- ------------------------------------------------------------------------------------------------------------------------------------------------------------- Akil Stokes Chief Currency Analyst at www.TradeEmpowered.com Click the link below to subscribe for more FOREX TRADING videos www.youtube.com Facebook: www.facebook.com Twitter: twitter.com
Long
by Akil_Stokes
4
NZDUSD: New Structure Low, Outside Return, New Structure Low?Hey gang, first of all thank you for all of the great comments on yesterday's youtube video "How Do Know If My Trading Strategy Is Failing" (www.youtube.com) You guys said that you've learned a lot and please continue to let me know exactly what that was in the comments section on Youtube. Today I've got bearish cypher patterns on both EURJPY and EURAUD on my radar, but felt like sharing a structure based trade with you this Friday to mix things up. Similar to the AUDUSD (but not the same), the Kiwi has just broken and closed below a level of structure, with a much more significant level resting below. I like to say that structure acts like a magnet so I'm predicting that the market will be pulled towards that lower level. Therefore I'll be looking for reasons to short the Kiwi this morning in the Live Room as the market creates a pullback. Obviously there;s no way to tell now if I'll actually get involved in the trade or not, but my eyes will be glued to this one on the lower timeframes. Wishing all of you a great weekend and do me a favor, if you liked the video above, make sure you subscribe to my channel. I'd like to inspire as many traders as possible so tell your trading buddies to check it out! Akil Stokes Chief Currency Analyst www.TradeEmpowered.com Akil@Tradeempowered.com /@AkilStokesRTM / Forex Weekend Review Videos: www.youtube.com
Short
by Akil_Stokes
16
EURUSD: Been Waiting All Week & Finally Got My ReasonAfter stalking the EURUSD this entire week, price action has finally made its way down into my kill zone and has also given me a reason to get long in the form of a bullish bat pattern that completed during the early London session. There are so many ways to take targets on this trade and instead of laying them all out I’ll just ask you these questions. Why are you involved in the trade (advanced pattern or trend continuation)? And (of course) What do your rules say to do? I know you guys hate hearing that, but hey, that’s the reality of trading. Each of us are different and as I tell my clients, your trading style should match your personality making it fit you like a fine tailored suit. BIG NEWS OUT AT 8:30 eastern! We’ve got USD: Advance GDP, Trade Balance & Unemployment. This should certainly give us some action early on in the New York session so be careful. The underlying market sentiment still looks to be very bullish the USD especially since yesterday’s (lack of hawkish tone) FOMC statement showed little movement before being shaken off my the market. Yesterday’s USDCAD didn’t go my way and if you’d like to read about it here’s the link to my trading blog. tradeempowered.com Also it’s Thursday so that means my weekly video is coming out so make sure you head over to YouTube and SUBSCRIBE to my channel, that way you don’t miss it. I’ll most likely be talking about dealing with failing strategies and looking at equity curves…we’ll see. Good luck today traders and let’s ROCK the markets on this wonderful Thursday! Akil Stokes Chief Currency Analyst www.TradeEmpowered.com Akil@Tradeempowered.com /@AkilStokesRTM / Forex Weekend Review Videos: www.youtube.com
Long
by Akil_Stokes
76
USDCAD: It's Not Greedy, It's Just Another Good Opportunity A few weeks ago I made a very controversial call on the USDCAD looking to go long despite a major level of resistance and an advance pattern on the higher timeframe. (You can see the video explanation of that trade here www.youtube.com) Well after finally being taken out for the remaining part of my position Canada has come back to a level that looks prime for another buying opportunity and more importantly, just like last time, I don’t have to have that much at risk in order to get involved. This is a simple structure based trade. Price action has come back down to test previous structure support, and IF this trend is going to remain intact, THEN that level should hold. (See how I snuck that IF/THEN thought process in there). If it doesn’t then I’ll be wrong and taken out of the trade. With stops below the 1.2900 even handle number I only have about 35pips at risk, with a potential reward of around 100pips of reward if we move back across to the right shoulder. With that being said it may not be an easy ride, as I’ve marked off a few key levels of interest that I’ll need to pay attention to. This is certainly one of those trades that I will need to actively manage, especially with the FOMC statement on the horizon. Good luck today traders and PLEASE continue to hit that LIKE button if you’re enjoying my posts here. Also check out my blog over at www.tradeempowered.com Yesterday I wrote one talking about my trading day and how being over prepared to trade is a good thing. tradeempowered.com Akil Stokes Chief Currency Analyst www.TradeEmpowered.com Akil@Tradeempowered.com /@AkilStokesRTM / Forex Weekend Review Videos: www.youtube.com
Long
by Akil_Stokes
8
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
Long
by Akil_Stokes
17
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
Long
by Akil_Stokes
58
USDJPY: CALL ME CRAZY but despite structure I'm looking longThe USDJPY has traded back into previous structure & is currently consolidating at the resistance level. To most traders this opportunity would have SHORT written all over it but I’m actually looking in the other direction. For those of you who I work with on a regular basis you know how I feel about the personality of the USDJPY and how it moves and looking on the daily chart we’re currently coming out of one of those pullbacks looking to retest previous structure highs in my opinion. The fact that we’ve come into resistance on the LTF is concerning for a buyer but I think it’s more concerning that the market hasn’t been able to move off of that level and as instead consolidated right at it. This tells me that the sellers aren’t too strong and this could be an area where the buyers are simply looking to grab some relief and involve themselves once again if the sellers can’t move this market down. In order to trade this I’ll be looking for potential opportunities down on the 15 minute chart during today’s Live Room session. I see a potential gartley setting up already which would do the trick, but any chance I get to buy near those lows, I’ll be looking to take. On the fundamental side of things we have the BOJ Monetary Statement coming out tonight/tomorrow morning which may play a role for those looking to take extended targets. Syndicate members we talked about this with the GBP in last night’s video and look how that played out. So we’ll see JPY doesn’t some tricky things and is usually comes with devaluing their currency. Good luck in the markets today traders and as always, do me a favor and hit that like button if you enjoyed this post. Akil Stokes Chief Currency Analyst www.TradeEmpowered.com Akil@Tradeempowered.com /@AkilStokesRTM / Forex Weekend Review Videos: www.youtube.com
Long
by Akil_Stokes
23
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:
Long
by Akil_Stokes
19
NZDUSD: Invalid Bat but still a Valid Short A few potential trades on my radar this morning including EURUSD, AUDUSD & AUDCAD (Long from overnight), but one that just caught my attention came on the NZDUSD. Even if you're new to reading a price chart it should be pretty obvious that the Kiwi has been in a downtrend. During this bearish movement I've been looking for different places to join the party each time the market puts in an outside return (retracement). Our most recent retracement came in the form of a bearish bat pattern. Now technically the Bat pattern is invalid because of the "X" leg being penetrated, but it still makes from an excellent opportunity to get short as price action is retesting the highs of our previous pullback. The wick on the "big" candlestick also provides me with some clues about the importance of that level. There a re a lot of these trend continuation setups out there so it's important that you try and find the best opportunity and not overexpose yourself in the markets. Akil Stokes Chief Currency Analyst at www.TradeEmpowered.com Akil@Tradeempowered.com /@AkilStokesRTM Forex Weekend Review Videos: www.youtube.com
Short
by Akil_Stokes
21
EURUSD: A Look Ahead (Day 3) "Keep An Eye on GDP Today" As I told my Syndicate members last night, although we’re at a minor level of structure, double bottomed at that level (LTF) and are currently putting in a 2618 on the Euro, I have no intentions of buying. It’s not a Greece thing, or the fact that I’m scared to pull the trigger after yesterday’s losing trade. It’s simply because I have no real place that I would feel comfortable taking targets at. So instead of forcing a revenge trade (like I almost did with USDJPY yesterday for you guys in the live room) I’ll reload my I.P.D.E. and start from scratch like I do every day. LONG The next area that I would consider getting long is down at the 1.1060s area. We’ve got price action holding support there 4 times in the past two months as well as some Fibonacci confluence between a 1.272 extension and a 61.8 retracement. Obviously I’m not placing an aggressive limit order there like I would with an advanced pattern but that’s where I’ll be looking for entry reasons. At 8:30am New York time we have US Final GDP coming out. I think this is going to be big. We all know the story by now about interest rate hikes and overall condition of the economy. Well there’s no better release is there. Yesterday the USD had a bad number, yet shook it off and still gained. This causes me to think that the overall sentiment in the market is still bullish the USD which means the market should be primed to jump all over a good GDP and ignore a poor one (talking about after the initial dust has settled). SHORT My only short option at the moment (aside from intraday trading) is to wait for a push back up to 1.1300 level. We’ve got a 61.8 Fibonacci retracement and some previous structure up there, but my reversal zone would be rather large which is why I’m not too interested for today. I’d like to see what price action does up there first. We may also be setting up a smaller gartley pattern (1hr) right below a minor structure level at 1.1260’s which is worth keeping an eye on for you Lower Timeframe traders. We’ll see what the market has in store for us, but certainly keep an eye out for 8:30am NY. Other trades on my radar are the AUDCAD and the AUDUSD Akil Stokes Chief Currency Analyst at www.TradeEmpowered.com Akil@Tradeempowered.com Check Out My FREE Weekly videos at www.youtube.com
by Akil_Stokes
4
GBPUSD: The Week Ahead (Day 5)On Thursday the GBPUSD broke a very important structure level around the 1.58 even handle. Since that moment I had to redo my I.P.D.E. and shift my focus from a potential short at that area, to a potential long to hop on the underlying trend. In yesterday’s update I told you guys that I was looking for a retracement and you know what it looks like we’ve got one, or are in the process of getting one. I initially thought we had a Bat pattern completion setting up but our “B” leg comes in a little too deep. So shifting back to harmonics and structure an AB=CD pattern would put us right at our previous outside return, which lines up right with that structure level that was broken earlier in the week. We have a minor Fibonacci retracement down there as well (for those using the CTS) but the main thing is structure at that key level. Could be a demand zone as well for those who are into that. Technically the “A-Kill” zone starts a little bit higher at the 1.5850’s levels, but I think the lower level will provide the least amount of risk. Either way if you’re a trend following trader and believe that this market is going to continue bullish then both levels would be buying at a bargain price. Hope you guys enjoyed this week of walking through a single chart. My question for you guys is next week would you like me to continue with this same pair, or pick something different? Please let me know and if there’s a pair you have in mind shoot me those ideas and I’ll pick one over the weekend. Have a great end of the week, and if you missed my ideas on USDCAD, GBPAUD and the Short Film that I shared representing the everyday battle that is trading. Make sure you check out my latest trading video. www.youtube.com Until next week traders, Plan Your Trade, Trade Your Plan and have a fantastic weekend! Akil Stokes Chief Currency Analyst at www.TradeEmpowered.com
Long
by Akil_Stokes
17
GBPUSD: The Week Ahead (Day 2)If you're new to following me, yesterday I decided to dedicate an entire week to keeping you guys updated on a single pair. Below is a link to the Day 1 chart if you missed it or just need a recap on what I was looking at. The cable was very bullish yesterday an nearly pushed up to our projected bat pattern completion. Since then we've retraced and are setting up another potential drive to that level. With all of the heavy news out of the way today and the markets waiting on tomorrows GBP news and the USDs FOMC statement, I'm not expecting too much movement so I'll mainly be looking intraday for my trading opportunities. Here on the hourly there are two places that i'm looking to get involved on GBPUSD. The first would be a structure play at the retest of the potential Gartley patterns "B" leg and the other would be the potential Gartley which would complete down at 1.5517s. Jason Stapleton just informed our Syndicate members that he got short this pair around the 1.56 even handle as well. My guess is a structure play as we've just tested a previous level, but I won't know for sure about his thought process on this trade until our War Room meeting at 8:30am NY. The response was GREAT yesterday and it seems as if you guys are very excited about me trying this "1 Pair A Week" thing out. So I'll keep this going and if it continues to work well maybe it'll be a regular occasion. See you guys in the Live Room! Also if you're interested in seeing where I go to get my fundamental data from, i wrote a blog post last night sharing mu top 3 sources: tradeempowered.com Akil Stokes Chief Currency Analyst at www.TradeEmpowered.com Akil@Tradeempowered.com Check out my FREE weekly trading videos www.youtube.com
Long
by Akil_Stokes
11
GBPUSD: A Look At The Week AheadTaking inspiration from one of my followers who messaged me this weekend, I wanted to try something different here on Tradingview and concentrate on a single pair this week instead of randomly posting charts when I have the time. (Let me know what you think of this idea by the way). This week I wanted focus on the GBPUSD as there are a few potential trading opportunities on the horizon. Big picture, after coming off of a very nice bullish bat pattern in early June, we've been waiting for the completion of a good sized bearish bat as well with a completion at 1.5639s. Last week finally brought the break above, close above of our "B" leg and since that point we've been looking for trend continuation opportunities to hop aboard a bullish move. Last week this market found trouble closing above the 1.5552 level which is some cause for concern, but as we come back into previous structure support, i'll be looking for buying opportunities once again. There are 2 levels that really stand out to me for buying opportunities the structure level between 1.5478-1.5466 and the structure level between 1.5460-1.5421. Which one will hold? I have no idea yet, but this is what i'll be tracking as the week goes on. If I have the time, i'll try and provide an update on this pair throughout the week and if the response is good, maybe this can be a regular thing. No promises, but I did want to start posting to tradingview again and this is a fun way to do so. Best of luck this week traders! SMASH those markets! Akil Stokes Chief Currency Analyst at www.TradeEmpowered.com For Weekly Trading Videos Make Sure You Check Out My Youtube Channel www.youtube.com
Long
by Akil_Stokes
34
EURUSD: 2 Structure Trades for Shorts Pt. 2To follow up on last week's EURUSD idea, the pair has finally reached higher level of structure that I liked during yesterday's Euro rally. We've now double topped at that level and have broken structure to the downside setting up for a potential 2618 opportunity for those traders looking for a conservative approach to get involved. We do have A LOT of news on the table today including an ECB press conference and a USD ADP Non-Farm Employment Change number. There aren't many expectations from the ECB this morning as nothing is expected to be said in regards to the monetary policy but there may be some Greece based questions during the Q&A and anything regarding Greece has been moving the markets as of late. Before ADP number which is released before the ECB press conference should be of importance as traders will look to use it to predict Friday's massive news day. There are rumors floating around about "ditching" the rate hike due to global worries so the very bullish sentiment that we had on the USD may not be as strong as before. "It may be impossible for the Federal Reserve to raise interest rates until the rest of the world economy improves... the dismal performance of first-quarter U.S. gross domestic product may signal a more permanent slowdown, and that the Fed needed to enter a phase of "watchful waiting" before raising rates." Anyway enough of the fundamentals, the technicals gave me a sell yesterday so I'm still looking short on this pair but it may be an interesting day similar to the Aussie (for those of you in the Syndicate program). Below is a link to the video where I originally discussed the trade setup. The EURUSD talk starts about 11 minutes into it. VIDEO ON EURUSD TRADE www.youtube.com Akil Stokes www.TradeEmpowered.com
Short
by Akil_Stokes
19
AUDUSD: Structure Long with Hidden DivergenceSorry for being quiet this week trading view but I've been running things on the road. Also the markets have been pretty quiet this week so there just hasn't been a lot to share. Today seems to be a little bit better and I wanted to bring a potential buying opportunity on AUDUSD to your attention. I'm already long this pair from earlier in the week. My position has been doing absolutely nothing but sitting there, but with our recent movement in price action another opportunity has appeared as well. This structure based opportunity can be looked at like a 2618. Price action has come down to previous structure support and held, followed by a HHHC and is now retracing. The HHHC gives us a bullish rotation and the present retracement is a perfect chance to hop aboard. Also the fact that the RSI is showing us hidden divergence gives me some added confidence and potentially added points for those of you that trade the Combined Technical Scoring System (CTS). The risk reward looks good on this trade no matter where you look to get long, so the only question left is "How Can I Get Long?" And the answer to that should be simple. What does your trading plan say are your rules for entry on this type of trade? "But Akil, what if I don't have a rule for this in my trading plan?" Well I'm sorry but you shouldn't be taking the trade then. With structure being at the core of my trading philosophy I'd be looking for targets at resistance & stops below support. Best of luck if you do get involved and until next time. "Plan Your Trade, Trade Your Plan" Akil Stokes www.Tradeempowered.com
Long
by Akil_Stokes
25
NZDUSD: Measuring the Pullback for a Structure based ShortWe placed NZDUSD on our radar during yesterday's Live Room session and have been tracking it ever since. I apologize in advance, but the analysis that I did on this pair is somewhat advanced so I'm not going to attempt to duplicate what I shared with you in last night's Syndicate video. Honestly speaking it's a lot clearer on the 13 period range bar charts (as you can see in the link attached at the bottom). Following the I.P.D.E. process that I shared with you guys on Monday, I've come to the conclusion that until shown otherwise, i want to get short Kiwi. The difficult part was determining where. Initially I had 3 killzones (with in the larger potential reversal zone) that sparked my interest but as this pair ebbs and flows, i'm starting to get a clearer idea of which zone is the one I want to keep my eye on and execute the trade if given the opportunity. To determine my killzones I've used a combination of Fibonacci retracements, extensions, inversions and harmonic moves. I say given the opportunity because, having price action enter the zone or level isn't enough. I still need to find a reason for entry and I won't know if or when that will happen until we get there. For now all I can do is wait, watch and be ready to pull the trigger if it does. Good luck in the markets today traders! tradeempowered.com
Short
by Akil_Stokes
28
GER30: Low Risk Short Into Previous Structure SupportI wanted to hold this for my webinar with Tradingview today, but it looks like we're already starting to move so I'll give it a share as well. By the way if you haven't registered here's the link blog.tradingview.com Live Room members, if you remember last week we talked a lot about waiting for opportunities where the risk reward is heavily in our favor, especially if we want to take an aggressive approach. Well on Friday we came right into previous structure support which should now act as resistance on the Ger30. Conservative traders I would key in on this level and wait for a double top for a more conservative approach. No tricks to this trade just LOOK LEFT as structure will leave clues. Although we're in a heavy bullish trend on the HTFs, we have seen some relief as of late. I'm not sure how long this relief will last but for the bears there is a lot of continued opportunity to the downside.
FX:GER30Short
by Akil_Stokes
39