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EURUSD: Counter Trend @ 1.12s or TCT In Anticipation of the moveA lot of my radar today going around my trading portfolio including the EURUSD. After being stopped out for a loss on yesterday’s bullish Bat pattern, we re-did our IPDE process and started making predictions for our next opportunities. I still don’t see a structure level that I’m a fan of on this pair that is until/unless we get down to the 1.1000 area, but the next potential speed bump may come around the 1.1200 even handle number.
Aside from it being a psychological number, we have multiple harmonic moves setting up in that area, some Fibonacci extensions, and most importantly, looking left we’ve got structure leaving clues.
As discussed in yesterday’s live session, the question just isn’t “where will we go?” but “how will we get there?” And this offers yet another trend continuation (TCT) opportunity if the market were to retrace in anticipation on that 1.1200 level being hit. Of course counter trend (CT) traders, this makes no difference to you as you’re only waiting for the next structure level.
We’ve got the Jackson Hole Symposium going on today which may provide some movement along with Pre-GDP and our normal Thursday Unemployment Claims out at 8:30am & Pending Home Sales at 10:00am. I don’t even try to pretend that I can predict the outcome of these events, but keep those in mind while trading today. We’ll be keeping an eye out for this one in our live trading room today along with potential trades on the GBPUSD, EURJPY, GBPJPY & USDCAD which are all high on my radar.
Also it’s THURSDAY so make sure you check out my Youtube page later for my weekly Forex Trading Video www.youtube.com
Have a great day of trading gang!
Akil Stokes
Chief Currency Analysis at Trade Empowered
Click here for 20+ hours of FREE Training
tradeempowered.com
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GBPJPY:Gartley, Bat or Butterfly w/ video on Rising WedgesAs you can see, lots of potential action here on the GBPJPY following our Rising Wedge from earlier in the week. Yesterday I recorded a video talking about this rising wedge as well as a MUST own trading book, so make sure you head over to my Youtube page and check if you if you haven’t already
“A Trading Book Must Own & Trading Simple Patterns” www.youtube.com
Today I have a handful of advanced patterns on the radar including a bear gartley, bull bat, and a bull butterfly. I’m not too big on butterfly patterns so I’ll be ignoring that one but it’s there.
Aside from that, I just got short the AUDCAD from last night’s Syndicate video which is now featuring another rising wedge pattern inside of our ab=cd/2618 trade and I’ve got my eyes glued to EURUSD, GBPUSD & NZDUSD from some trading opportunities.
Yesterday was a no trade day for me, but hopefully I’ll get some valid signals today and end the week with a bang!
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
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EURUSD: Bullish Gartley (Repost)/How To Grow Your Account Video Hey guys, we've been watching this potential setup for a while & price action is finally in striking distance of you D point completion. Therefore I wanted to repost this chart just as a heads up. Keep an eye out for the *ADP Number at 8:15 Eastern.
I'm heading out of town so there will be no more post from me this week, however I did leave you guys a short video addressing a common question that I get about "How To Grow Your Trading Account" of course my answer probably isn't what you'd expect to hear, but I'm also not like most traders. Here's the link www.youtube.com
Please let me know what you think by leaving a comment under the youtube video. Don't forget to LIKE, SHARE & SUBSCRIBE too, that helps me out a lot.
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Akil Stokes
Chief Currency Analysis at Trade Empowered
Click Here for 20+ hours of FREE Training
tradeempowered.com
Facebook: www.facebook.com
Twitter: twitter.com
USDJPY: Rising Wedge Into Previous Structure (read description)I’m looking at a rising wedge type of pattern forming here on the USDJPY that is working it’s way toward a pretty significant level of structure (look left). We typically see a breakout to the downside with this type of setup as it represents the market losing steam after a high volume move.
I’ll be looking for short opportunities on this pair in the Live Trading Room, but we might want to keep out eyes on the 8:15 ADP number as we are still looking at a very bullish dollar.
This is my last active trading day for the week as I’m headed out of town but I didn want to leave you guys with a short video titled “How to Grow Your Trading Account” Here’s the link Here's the link to my youtube video "How To Grow Your Trading Account" here’s the link.
www.youtube.com
Hitting the LIKE button, leaving a comment and sharing on my youtube page would be a BIG HELP!
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Akil Stokes
Chief Currency Analysis at Trade Empowered
Click Here for 20+ hours of FREE Training
tradeempowered.com
Facebook: www.facebook.com
Twitter: twitter.com
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.
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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
EURUSD: Potential Bullish Gartley Pattern w/ Great Risk v RewardNot a lot on my radar this morning which is perfect seeing how Monday’s are typically days where I let the markets wake up after the weekend. One pair that I’ve been continuing to watch closely has been the EURUSD which has provided a lot of opportunity over the past month or so.
The chart before you shows a potential bullish Gartley pattern completing extremely close to the “X” leg. As I shared with my Syndicate members in this morning’s trading video, this is a really good thing, because it puts us in a situation where we don’t have to risk as much and can potentially receive a greater reward if the trade goes in our direction.
I usually don’t take patterns too seriously until the “B” leg is broken so there may be a few bullish opportunities beforehand, but that’s something I won’t be interested in until tomorrow.
Good luck in the markets this week traders and as always, if you like this post PLEASE HIT the THUMBS UP button, and if you have any question, comments or would like to share your views on this pair don’t hesitate to type in below.
Akil Stokes
Chief Currency Analysis at Trade Empowered
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Click Here for 20+ hours of FREE Training
tradeempowered.com
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Click the link below to subscribe fto my Youtube page
www.youtube.com
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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
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
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