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The808trader

More Kiwi Weakness? - Ichimoku EUR/NZD Long Trade SetupThis pair has seen a really nice bullish trend since its original kumo breakout a couple weeks ago. I am looking to hop into a trend continuation here to catch some more bullish movement. I've set a buy entry above our current candle, but a more conservative entry would be at or above the wick of the most recent structure high. I've drawn out some partial take profit levels where I can look to take some profit and risk off the table should this setup advance my way. If price fails to break higher or hold support, this setup may become invalidated. 
Long
by The808Trader
Euro on steady ground? - Ichimoku EUR/JPY Long Trade SetupIf you were in the coaching call yesterday then this setup will look familiar to you. We rose steadily last week before finding some resistance here at the top of the kumo. I am looking for a springboard move off tenken sen and the kumo as a confirmation for a long entry. In the coaching call I mentioned a more conservative entry would be just above the wicks of where we've been getting rejected, so we do have multiple ways to approach this setup. I've set this one a little lower for a little better risk to reward and to be closer to our stop loss right below kijun sen. If we fail to break higher or hold support, this setup may become invalidated.
Long
by The808Trader
Brexit GBP Concerns? - Ichimoku GBP/JPY Sell SetupThis setup is the same as last weeks, but I wanted to re-emphasize the setup. There were further confirmations last week as we waited for a triggered entry and we finally got it at the end of the week last week. As I mentioned previously this is a big play overall on the Brexit situation happening right now. As I hope you're aware during times of economic uncertainty the JPY is often seen as a safe haven and this safety sanctuary often seen a large migration of funds when other economies are in turbulence. While this order has been triggered it is only in profit by a few pips and I am looking for it to continue to advance downward. We have a decently large Take Profit level to aim for as well as some partial take profit levels along the way. This setup may time some time to progress so be ready to be patient if you end up take a trade with this pair as the Brexit situation plays out. If we fail to break support and break lower, or if our bearish confirmations change, this setup may become invalidated.
Short
by The808Trader
USD Safety concerns over? - Ichimoku USD/JPY buy setupThe USD has successfully fought it's way back from new structure lows back into the kumo and is now attempting to breakout. We are close to having some final confirmations for a bullish entry but I'm waiting for a few more signs to really seal the deal for me. We are getting close to a kumo twist as the current kumo has started to thin out here but are still a bit short of the actual twist. The other deterrence I've see is the failed attempts to hold a breakout and the distance from tenken and kijun sen. So, I've place an entry above the wicks where we've been stifled at previously last week. If we can break up and beyond those wicks we should have a platform for support that price can springboard off of. This may or may not coincide with another drop to and test of tenken sen before this happens, if it happens at all, so I'm watching for that. Ive drawn out my longer term Take Profit level I'm looking at as well as some horizontal lines I've drawn out. These lines represent support and resistance areas I am watching to take partial profit off the table to limit my risk exposure in the event that this setup does in fact trigger. If we fail to hold our bullish confirmations or get the breakout we're looking for at our entry trigger, this setup may become invalidated.
Long
by The808Trader
USD comeback? - Ichimoku USD/CHF Long Trade SetupIf you are in my membership then this setup should seem familiar to you. It's been on our watch list since last week and I am still waiting for it to progress to give me a valid entry. We've been ranging in the kumo so far and we're approaching a bullish kumo twist soon. I'm still waiting for this to progress a little further in the kumo until we can get to a bullish kumo breakout which will hopefully coincide with a bullish TK cross and chikou span rising up and through price. Any combination of these confirmations with the kumo breakout should be enough to validate a buy entry for me. You'll notice the lines I've drawn out from our previous successful sell entries. I've left these drawn on this chart to illustrate that the market tends to return to key levels. What acted as support and resistance will now act as potential take profit levels and resistance once again. That is exactly what these indicators do is point to confluences of price structure without having to draw anything manually on our charts. I am going to use some of these horizontal lines as partial take profit levels if we get a valid buy entry. The reason I do this is to limit risk exposure as this progresses as well as take some profit off the table, but ultimately you need to decide to trade based on a style that best suits you. If we fail to get a bullish breakout or our bullish confirmations fail, this setup may become invalidated.
Long
by The808Trader
Kiwi to Shine? - Ichimoku GBP/NZD Short trade SetupWe nailed this one last week, let's see if we can make it two weeks in a row. This pair saw a big drop last week before ending in a drawback. I am looking for a further move to the downside here as price has stalled out near kijun sen. This pair has been a little sloppy as far as respect of tenken and kijun sen, so I'm not too worried with it not being a super tight rejection here. This is also a an order that I will probably set as a sell stop. It's a tight enough stop loss that I'm not to worried about not watching it, if it gets triggered. This is also a setup that will have a lot to do with the outcome of Brexit. So, depending on the news, this may progress rapidly or slowly.
Short
by The808Trader
More Brexit Weakness? - Ichimoku GBP/JPY Short Trade SetupWhile this setup has a technical bias to back up the move I'm looking for, the overall movement will be direct determined based on the outcome of Brexit. With all the chaos going on whatever the final outcome is, will end up moving this pair drastically. If you are into looking for price structure patterns, some might call this a bearish flag. Either way I am looking for a drop below the last few candlesticks low for an entry. If we can break below that then we should be able to push further down to the previous price structure lows I've marked up. I've also drawn some partial profit targets as well along the way. There's even a few more targets we can aim for if you look left at price structure. I'll adjust as it moves if we get the breakdown I'm looking for.
Short
by The808Trader
JPY Safe Haven? - Ichimoku USD/JPY Short Trade SetupWith the news from the FOMC that there would be no interest rate hikes for the rest of the year, we saw a big drop across the board on the USD. When you add in the fact that the JPY is typically a safe haven during times of economic turbulence, we saw an even more extended move with this pair. I am looking for that continued move to the downside in the long run so I've set up a break of resistance as my entry. We may get a drawback first, but this can easily be set as a sell stop, and wait for a triggered entry. I've set some partial profit levels I'll be looking at if we do get a confirmed sell. I will also hold a small portion of the trade if we hit my longer term TP and let it progress. If we fail to break lower or our bearish confirmations change, this setup may become invalidated.
Short
by The808Trader
Dollar gains? - Ichimoku USD/JPY Long Trade SetupUSD saw a slow continuous move up from support last week. Right now we are at kijun sen testing support. I am looking for a good entry at kijun sen for a chance to get long, that could come in the form of a strong support candle or a break back up above the triger line. If we get that good entry we can look for a price back to price structure highs from last week. If we fail to hold support or make a move higher then this setup will become invalidated.
Long
by The808Trader
Swiss gains? - Ichimoku USD/CHF short trade setupThis pair saw a big move down last week and while ranging inside the kumo we saw further resistance to the upside. We ended the week with another attempt at a a breakout and some nice bearish candles. I am looking for a break of the previous bearish wick to enter into a sell position. I've drawn out some potential targets to aim for along the way to our major TP if we get our confirmations as entry. I'm keeping a tight stop loss at the kumo cloud, it should allow enough breathing room but it can always be moved up to price structure lows to allow for more room if necessary. If price fails to break lower or our bearish confirmations change, this setup may become invalidated.
Short
by The808Trader
CHF breakout? - Ichimoku NZD/CHF Sell TradeThis pair formed a very strong rejection candle at tenken sen and has continued it's bearish move down. I am looking for a break of price structure to look for a short entry. I've set my TP at a previous price structure low, but I've drawn out several areas where I will look to take partial profit at or at the very least watch to see if support looks like it will hold there. If we fail to break support or climb lower then this setup may become invalidated.
Short
by The808Trader
1
Euro bullish vs the yen? - Ichimoku EUR/JPY long setupWe've been on a tremendous bullish run with this pair over the last week and a half or so and momentum has slowed a little bit here. I've zoomed into the 1 hour chart to look for a drop near kijun to watch for support to hold. If we see that drop a nice wick forms at support, that will signal another entry to get long in this pair. I've set my TP at the top of previous price structure highs, but I may take partial profit along the way if this setup gets triggered for a long entry. If we fail to get a good drop to support, or if that support does not hold, this setup may become invalidated.
Long
by The808Trader
2
Euro to do the Pounding? - Ichimoku EUR/GBP Drawback SetupFor this setup I'm zooming in on the 1 hour time frame. While this pair remains on a bearish trend overall on the larger time frames, it looks like we will be getting a drawback. Keep in mind that since this setup is technically a drawback right now that it carries a little more risk than a standard trend trade setup, so I will only be risking 1.5% of my capital if this trade is triggered.I am looking for an entry if we break above our previous candle to enter a buy position. Since it is a drawback setup (for now) I am not going to aim too far out for my TP. I've drawn several areas that if we see strong resistance I will close partial or the whole position out at. As an alternative entry for slightly better risk to reward, we could also wait for a test of kijun sen again and look to buy there, should a support candle form. I mentioned that this is a drawback setup for now, the reason behind that is, should we hold support and see some bullish signs on those higher time frames, this setup could end up being an early reversal. If we fail to hold support or climb higher, this setup may become invalidated.
Long
by The808Trader
1
CAD to beat down the Aussie? - Ichimoku AUD/CAD short sell setupThis pair saw a firm rejection at kijun sen last week and I'm looking to try and take advantage of that bearish momentum to get into a short position. I've placed my entry at the body of previous support and price structure, I'm looking for a break of that level to continue the bearish momentum we've seen. I set my TP at the tip of the extended wick we can see on the left side of this chart. If we look like we have good momentum I'll leave some of the position to run in profit. If we fail to keep our bearish confirmations or if we fail to break lower, this setup may become invalidated.
Short
by The808Trader
Oil Bulish run to continue? - Ichimoku Long Trade SetupOil has continued it's bullish run up in price despite the fundamentals being very challenging. I am watching for a drawback to previous price structure, where I'll be looking for a good support candle to form to get long and try to take advantage of this bullish run. We will need to keep an eye on the news though as oil is highly speculative. Any news on a new deal between China and Iran or Russia could send massive shock waves through price. If price fails to get a drop I want for a good entry, or if it fails to hold support, this setup may become invalidated.
FX:USOILLong
by The808Trader
Yen over the Euro? - Ichimoku EUR/JPY sell setupFor this setup I'm zooming in on the 1 hour time frame. This is a little pre-emptive of a failed support move on the 4 hour. I've placed our entry a few pips below kijun sen on the 4 hour which lines up with an entry below the kumo here. Remember that all ichimoku components tie together, so it is no coincidence that this setup takes place where it is, lining up with that break of support on the higher time frame. I've drawn out several partial take profit levels to aimf or on the way to my longer term TP. As long as bearish signs hold I'll look to let some of my position run to that long term target. If we fail to break support or if any of our confirmations change this setup may become invalidated.
Short
by The808Trader
JPY ready to fight EUR back? - Ichimoku EUR/JPY sell setupWhile this pair has been moving sideways we ended the week with a bearish kumo and a bearish TK cross. I am looking for a move back down and out of the kumo to look to take a sell here. My longer term take profit level will only be valid if we can break the price structure I've drawn out in horizontal lines on the charts. I'll also be take partial profit at those levels to decrease my risk as this setup develops. If we fail to break that price structure support or end up going back up into cloud, this setup may become invalidated.
Short
by The808Trader
CHF ready to gain some ground? - Ichimoku USD/CHF Sell SetupFor this setup we're going to zoom into the 1 hour chart. We've had 4 price structure rejections before falling down below the kumo. We are still holding a price structure floor here, but I've set an entry below that level, so that if we break it, I can get into this sell. I've also drawn out some partial take profit level to aim for on the way down to my longer term take profit. I am setting my stop loss right above the last several candles at our current price level. This setup may become invalidated if we fail to break price structure lows or maintain our bearish confirmations.
Short
by The808Trader
Aussie Ready for a Run? - Ichimoku AUD/CAD Long SetupThis pair is going to have to develop still but if we get the final confirmations it could still be worth the wait. What are those confirmations? Well there's a few I want to see. I want to see the kumo twist to start with, which looks like we should get here as price has been holding higher and the kumo cloud is starting to thin out. We are in a bullish TK formation currently and chikou span is above price and free, so the only other major confirmation I wan tot see is a kumo breakout. I've place my entry at the the flat kumo which is the level I wan to see broken to enter a long position. Now, if we look left of price we see that there has been a range of price we have been stuck in, so I want to be careful with how far out I am setting my longer term take profit. So, I've set several partial take profit levels along the way to my longer term Take Profit you'll see drawn out as horizontal blue lines. As long as my trade get's triggered I'll look to remove some profit off the table at those levels and continue to let the rest run.
Long
by The808Trader
Pound to regain ground against the Aussie? Ichimoku Long Trade This pair got a nice move back up last week before ending up testing tenken sen and the kumo here. We do have an early kumo twist to a bullish cloud and we are currently hold at the top of the kumo which is coinciding with tenken sen support as well which is typically a very strong support level. Both kijun sen and tenken sen have flattened out a bit here indicating we have lost a bit of momentum, probably in anticipation of upcoming news. I am looking for a long entry above our previous candle but as an alternative we can also look for a drop back down to tenken sen and a good support candle to hold there for another entry style. I've drawn some horizontal lines at partial take profit levels and I've drawn out the longer term TP at previous structure highs. If we fail to break higher or hold support, this setup may become invalidated.
Long
by The808Trader
The Silver Bullet? XAG/USD (Silver) Ichimoku long tradeLast week in the membership we were looking for a good size drawback but this sentiment was invalidated when support held on the daily chart. We are now looking to get into a trend continuation if we can catch a nice bullish breakout of the kumo. In addition to the breakout I also want to see that kumo twist complete and a golden (TK) cross to complete for the last bit of confirmation. When I'm looking at a potential target here I'm arbitrarily setting my TP at the recent price structure high, but if we can get to that level I will leave at least a quarter of a my position running in profit and just adjust my stop as it moves. If we fail to get our confirmations and bullish kumo breakout, this setup may become invalidated.
FX:XAGUSDLong
by The808Trader
Swiss Safety Net? EUR/CHF Ichimoku sell setupWe saw the Swiss Franc make up some strong ground last week and I am looking for that trend to continue this week. We are pretty far from tenken sen so we may end up getting a drawback to test resistance before trying to make a move further down. I am placing my entry below previous price structure support to the left of current price. If we break that level I'll be looking to hop in that sell targeting the next major price structure support you can see based on where my TP is set. As an alternative we can also look for a sell off a Tenekn sen rejection (This is the bounce trade I teach) which would give us a better risk to reward as well. If we fail to break lower or hold resistance at tenken sen, this setup may become invalidated.
Short
by The808Trader
Fools Gold or the real deal? - Ichimoku Gold SetupWith the economic uncertainty of the trade wars, government shutdown, and tariffs we've seen gold make up some pretty good ground against the dollar. This will be the first major test of support if we get a drop to kijun sen. If we get that drop and show some strong sings of support with a good candle or strong holding of price at that level I will look to get long back up to price structure high, and probably even a little bit beyond that. This upcoming move will be a strong indication of market sentiment on the US economy and where they think things are headed. If we fail to fall to kijun sen, we could get an alternative entry at a breakout above previous price structure highs. If we fail to hold support or get a drop to support for a good entry, this setup may become invalidated. 
FX:XAUUSDLong
by The808Trader