Akil_Stokes

Akil_Stokes Wizard

Many of you that follow me are aware that I've been testing out a new theory on the Cypher pattern. In fact i initially had 2 theories that I wanted to test but after speaking to the creator we decided to focus on the one. I'm months away from completing this testing since free time is hard to find these days with the new born and all, but this is the first...

Akil_Stokes Wizard

It looks like the GBPJPY trade we talked about last night has come quicker than expected. Two patterns for the price of one. Very big stop/loss on this so you may want to think about using an alternate entry technique in order to limit exposure.

Akil_Stokes Wizard

If you’re a follower of my work on YouTube then you know that this week I wanted to try something new. I wanted to introduce something I’m calling Chart of the Week where, you guys shoot me a question about a chart that is giving you problems and I show you what I see and talk about how I would look to trade it. This week I chose to take a look at the EURNZD on...

Akil_Stokes Wizard

After yesterday's scare, Gold has given us an outside return back into previous structure highs. On the way we've happened to form an advanced pattern as well. I typically prefer deeper completing Gartley patterns, but even though this one is shallow, it goes with the underlying trend. Pattern traders can look for a move back down to that magical 1200 level, why...

Akil_Stokes Wizard

Bullish bat Pattern with the trend on GBPJPY

Akil_Stokes Wizard

This trade was originally brought to our attention this weekend in Jason Stapleton's Forex Market Preview video "Studying Harmonics" ( www.youtube.com ) As I take a look at it today price action (after creating a LLLC) has retested the previous level of support which should now act as resistance. In addition to the structure level we also have a Fibonacci ratio...

Akil_Stokes Wizard

Bearish Gartley

Akil_Stokes Wizard

Nothing fancy here, just a good old fashion Gartley pattern. I'm actually not too big of a fan of the Gartley. My philosophy as a trader is built around risk/reward profiles so if I had to pick an Advanced Pattern to be my favorite I'd have to go with the Bat. However, because we have such a deep B leg retracement in this particular case our D leg is going to...

Akil_Stokes Wizard

I don't often look at USOIL but one of my live room members loves to trade it and brought it to my attention this morning. Originally there was a bearish bat pattern that completed at an excellent level of structure (looking at the bigger picture). That level has since been broken and although the trade may not have hit a traders stops yet,it's never too soon to...

Akil_Stokes Wizard

Here's another look at the structure based trade that also happened to be a bearish bat pattern that we looked at during this mornings presentation. If for some reason you missed it. Here's the link to the replay video promos.tradeempowered.com If you want to join me tomorrow here's the login link tradingeducation.omnovia.com

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...