Akil_Stokes

Akil_Stokes Wizard

In between rooting for the Royals to win game 7 of the World Series, I've been trying to catch up on my evening analysis. As we know it's been an active day in the markets, with the FED announcing a halt to it's bond-buying efforts and some pretty explosive moves in the market this afternoon. What I'm looking at on the USDJPY is a potential 3 Drives pattern that...

Akil_Stokes Wizard

Although we have a Bearish Cypher pattern resting right above this level, the double top on this pair still looks to be a very good shorting opportunity. A single ATR stop should get you above the structure level looking left so there's very little risk in this one when compared to the potential reward. I wouldn't expect a full blown reversal, looking at the...

Akil_Stokes Wizard

Brought to my attention by one of my Syndicate Members, what we're looking at is a bearish Cypher pattern. If you take a look at the recent movement of the market we've just put in a new structure low (LLLC) and the Cypher completion comes at a retracement back into previous structure along with a 38.2 Fibonacci retracement from our bigger swing. Unfortunately...

Akil_Stokes Wizard

I just finished tonights Syndicate video looking at EURUSD, NZDUSD, AUDUSD and EURAUD. One of the more exciting setups that I've been tracking since this morning has been the GBPUSD. Here's what I'm looking at. If you're a follower of mine at all then you know that I'm not a fan at all of Butterfly patterns. Actually, of any pattern that completes outside of the...

Akil_Stokes Wizard

I'm late to the party today since I haven't looked at any charts all day... actually since Thursday now that I think about it. Anyway we have 2 bearish advanced patterns setting up here on the EURUSD which also come at a retest of structure on the 240min. Good wicks at the killzone of the Bat and Butterfly so a double top at that level would offer another good...

Akil_Stokes Wizard

Nothing too fancy here on the EURJPY just a simple structure based trade. Looking left you can see that the market has had trouble breaking this resistance level as of late. Combine that with the RSI being oversold and the existence of a double top featuring RSI featuring bearish divergence and it's more than enough for me to take a shot on. This top was also a...

Akil_Stokes Wizard

Obviously the bulk of this trade has already played out but following up on yesterday's blog post and this mornings training lesson. I wanted to take a look at how I actively manage a trade. One this I continue to tell the traders I work with is to "think like the other trader" so seeing how I'm in a bullish position, what I like to do is break down the chart and...

Akil_Stokes Wizard

....Back to the Analysis… now that we’ve put in a lower low, lower close and the RSI is buried, I think 1 of 2 things will occur. Either we’ll continue straight down to the Fibonacci cluster which comes in at structure, or we’ll see some relief that will result in a retest into previous structure support which should now act as resistance. Now I would shy away...

Akil_Stokes Wizard

The last time I looked at this stock I had a bullish Bat Pattern on my radar, which resulted in a move back up to previous structure before continuing short. That movement down ended up being the 3rd drive in a bullish 3 Drives pattern (in yellow) and what I would expect is a minimal move back up to previous structure (orange arrows). Typically when traders look...

Akil_Stokes Wizard

I don't typically do much trading on Monday's as that's my training day, and want to give the markets time to wake up. But I've been keeping close tabs on the EURJPY since last week and now that last week's bullish setup has rallied nicely, we now also have a potential setup as well. I get a lot of questions about how to manage trades and where to take targets...

Akil_Stokes Wizard

Looking a a structure based long opportunity here as price actions looks to retest previous structure support. We've got a combination of multiple harmonic moves lining up with a Fibonacci cluster and of course structure looking left. As of now I'm waiting to see how price action reacts within this zone before committing to an entry.

Akil_Stokes Wizard

I personally still have a very strong bearish bias on this pair and believe we have further to go. But did want to bring to you attention the presence of this large bullish Cypher. I don't trade the weekly timeframes so I'm not touching this but for CTS (Combined Technical Score) traders this is something that can potentially be used for building a case for entry...

Akil_Stokes Wizard

Still keeping track of the multiple patterns that were forming on Gold. The smaller one never held support and has since broken and closed below. Now we're setting up for a potential bigger one just below the 1200 level.

Akil_Stokes Wizard

As a pattern trader the EURUSD has been one of my best performers over the past few weeks. After our last big drop from 3150's the market has finally shown some relief in the form of consolidation before the next big move. Fortunately, for pattern traders consolidation is great, because inside that choppy, nasty looking price action are advanced patterns, which...

Akil_Stokes Wizard

Recorded a video of this trade to my Synidcate members earlier in the day but ran out of time to post this before my Live Room started. But with not a lot on my radar this morning AUDCAD was a pair that really stood out to me. Not only has the market put in a beautiful double bottom along with bullish divergence and the RSI being oversold. But we're also right at...

Akil_Stokes Wizard

Recorded a video of this trade to my Synidcate members earlier in the day but ran out of time to post this before my Live Room started. But with not a lot on my radar this morning AUDCAD was a pair that really stood out to me. Not only has the market put in a beautiful double bottom along with bullish divergence and the RSI being oversold. But we're also right at...

Akil_Stokes Wizard

It's been a rough go around for pattern trades as of late (I'll talk more about that in my Weekend Review tonight www.youtube.com) But if the pattern is valid and meets you ROE's then you've got to pull the trigger. I'm still holding the 2nd half of my position on a EURUSD short from earlier in the week, but today we've got both a bullish gartley and a bearish...

Akil_Stokes Wizard

Kiplingers had an article on airline stocks that opened with "There's an old wall street joke about how to end up with $1 million worth of airline stocks...Start with $10 million." "In 2000, nine airlines controlled about 80% of the U.S. markets. Today, just four companies control about the same percentages." Looking at the major players American Airlines...