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Structuretrading

EURUSD 1HR - the importance of structure ----ABCD- 2618Had a very nice conversation about this pair with one of my clients last night and wanted to share this morning now that not much has changed overnight. There are 2 setups on this chart one was a double bottom which can now potentially turn into a 2618 opportunity at MINOR structure & the second is a potential AB=CB pattern with fibonacci confluence that can potentially complete at major structure. The conversation had yesterday was about how to determine when structure was "Major" vs. "Minor" & how that may affect our trading decisions. Personally i prefer to look my trading opportunities at major structure as it allows me to be more aggressive with my approach due to the risk reward that is often gained there. Plus we all no that "good moves don't last long" However that doesn't mean that you can't look for trading opportunities at minor structure as well. You certainly can, it just may be worth taking a more cautious approach & waiting for extra confirmation before pulling the trigger. Well, it's almost 7am, time to double check stops and targets before the today's Monetary policy. A more hawkish than expected tone would work perfectly with my current positions. GOOD LUCK TODAY TRADERS, HAVE A GREAT TRADING DAY!! See you this weekend with another video... Or maybe today, you never know Akil
Long
by Akil_Stokes
23
GBP/CAD SIMPLE STRUCTURE TRADELooks like we have a valid bearish continuation pattern, and even though the trendline (light blue) has been broken I still don't feel like hopping on the trade, as we have a major level of Key Daily Structure just beneath. Therefore I prefer waiting for that level to break, retest it (by bouncing of the S1 daily PP) and then enter to get a better entry point. All other details are displayed on the chart DO YOUR OWN DUE DILIGENCE BEFORE ENTERING THE TRADE. NOT A TRADING SIGNAL.
Short
by Aqua_Trader
EURNZD - Breakout RetestHere's something that we just took a look at in the Live Room, while watching Yeelen's Testimony. EURNZD (Which is a pair I don't trade, for those who think I trade every idea that I post) is has rallied toward previous structure highs and is now retracing back down into the previous pennant pattern highs. Although I wouldn;t be looking for a full trend continuation move here, I certainly think there is the opportunity for a trader to involve themselves in a low-risk trade looking for a retest of the highs. Akil Stokes Trade Empowered "Plan Your Trade, Trade Your Plan"
Long
by Akil_Stokes
6
USDCAD: Stopped Out Earlier But Still Looking LongThis morning I got triggered & stopped out of a long entry in a matter of seconds thanks to some beyond positive Retail Sales news for the Canadian Dollar. Price has now retraced lower & nothing has changed much with my overall analysis for this pair. I still have my eyes glued to this pair for another potential buying opportunity and I won't let the 18 pip loss earlier today scare me away. After all, if you're going to lose, lose small that way it doesn't hurt you psychologically or monetarily. If we can get a retest of structure with a hold, that will allow me to put myself in another position that offers a great potential reward with very minimal risk. Akil
by Akil_Stokes
22
USDCAD: Eyes Still On A Long Opportunity If you've been following me over the past few weeks then you know that I've been waiting on opportunities to get long on the USDCAD. After consolidating and holding at previous structure lows (daily), we've now seen a bullish rotation on the hourly. It's important to remember that a "rotation" doesn't mean a trend, rather just the 1st leg of the 3 point move needed to establish one. If price were to retrace, it would offer us an advanced bat formation which could be used as reason for entry. News events this morning, including CAD - Core Retail USD - Unemployment (8:30am NY) & the release of a the GOP Healthcare Bill (9:30am NY). Syndicate Members, I'm having login issues so i can't upload any videos to the Members site, but I shot one through the TradeFloor this morning walking you through this setup. Akil
Long
by Akil_Stokes
11
GBPJPY: Looking Short Once AgainThe GBPJPY aka "The Beast" has been my favorite pair to day trade over the past few weeks. If you're familiar with this pair then you know that when it moves, it moves big & I've been able to get on the right side of those moves on my last few attempts, including the trade I shared with you guys yesterday. Once again I'll be looking for day trading opportunities on the pair today starting at the 142.50's level. Currenty (6:30am NY) we just completed a bearish Cypher on the 15min which I'm sure some of our traders are using for an entry reason. Akil Stokes
Short
by Akil_Stokes
6