TheAlcoveFx

TheAlcoveFx

Hey Traders, Hope trading is going extra swell, we are grinding out of our drawdown so lets hope for some winners! We have a few small pattern formations that you can take advantage of on lower timeframes, the Bat already hit targets one so that wouldn't be valid for me, but who knows, maybe some of you have different techniques and you can macgyver some profits...

TheAlcoveFx

Hey Traders, So my portfolio has been super quiet recently, with the exception of a few trades. Today we have a bear gartley on the H1 chart of GBPNZD. It actually gives an aggressive order to a conservative entry on a double top/ re test. Something we already made some $$ on the way down. So this will be a great opportunity to get in short again, hopefully with...

TheAlcoveFx

Hey Traders, Again, Not much on the charts, but taking a look, we do have some potential trading opportunities setting themselves up. Keep in mind, I will be FLAT until Wednesday as much as I would love to enter the market. After having experienced slippage first hand, I never want to put myself in the situation where I am in a position and I get slipped 50-100...

TheAlcoveFx

Hey Traders ! Not much on the radar this morning, especially after that huge gap we got on some of the pairs following the sunday open. These elections are driving the markets nuts, so much uncertainty has people shifting money quicker than they can make up their minds. Best thing to do when there is so much uncertainty, is to stay on the sidelines. There's a...

TheAlcoveFx

Hey Traders, So not much on my radar this morning except two open trades I have on USDJPY and AUDUSD. Right now, GBPUSD is in no mans land so there's nothing for me to trade, however as we take a look on the higher time frames we can assume where price might go to, and what it might do when it gets there. We know support when broken becomes resistance, and we...

TheAlcoveFx

Hey Traders, So After Getting our butts kicked with all these patterns this week, we have a Structure opportunity we can take advantage of. This is a very simple trade and one of my favorite structure set ups because it allows me to be aggressive with limited risk. We broke a level of support we are coming back up to re-test, from what we understand in the...

TheAlcoveFx

Hey traders, Today we have a cool opportunity, we have a BAT harmonic pattern lining up with some minor support. What's key to look at is how price is making lower lows with lower closes giving a higher indication of a bearish trend. Price has continued to follow trend behavior by breaking new structure lows, coming back up to re-test and then continuation to the...

TheAlcoveFx

Hey Traders, Today I want to go over a bracket trade (two harmonic patterns bracketing price) giving us the option to shoot for extended targets. One thing that we must remember are the rules of our patterns. When bracketing trades like this, its important that we know what validates a pattern and what violates the patterns, that way you are not taking extended...

TheAlcoveFx

Hey traders, Here in EURCAD we have two Bullish Cyphers. Usually when we have two cyphers, we have to pick between the two since the stop loss overlaps with the entry of the other one. This time, I don't have to do that since the stop loss of the first pattern is above the entry of the other pattern, So if the first patterns turns out to be a loser, then i can...

TheAlcoveFx

Hey traders, So usually we have been going over harmonic patterns, but every now and then there are other opportunities that show up and if it fits in your trading plan, its a good idea to capitalize on that. This opportunity came from looking out at the daily, We started looking at the direction of the market and saw that it was bearish, so right of the bat, I...

TheAlcoveFx

Hey traders, Welcome back, And today we are going over two advanced patterns in the EUR/USD. The first one we have is a small Bat pattern, and then we have a larger cypher completing above the Bat. Now luckily for us, we can take both patterns back to back because the stop loss for the bat would be UNDER the entry of the Cypher. Many times you will hear me talk...

TheAlcoveFx

Hey Traders ! Today I'm going over a structure based opportunity, I did use the daily to help narrow down this area so if you want to see more about it, check out the link where i go over it www.youtube.com Once we have the direction of the market figured out, then we go into our trading timeframe and narrow down the level of reversal. In this case we have...

TheAlcoveFx

Hey traders, We have a bullish Cypher completing at 1.2978's with a good R:R considering it is a cypher. As you know stops below X and Targets at the 38.2 and 61.8. Lets see what the turnout of this trade will be. I'm currently open on orders for a few other patterns as well, If you want more info make sure to check out www.thealcovefx.com to take advantage of...

TheAlcoveFx

Hey traders, This is a nice opportunity that I like showing because it gives you the chance to really set yourself up for a great Risk:reward since you can remove half your position at target 1 like usual, and remove the other position at the entry of the Bearish Cypher. Its trading opportunities like this that really squeeze the most out of patterns that can turn...

TheAlcoveFx

Hey traders, So for Today's Trade Idea I wanted to show you something that you can use for ideas on setting targets. We have one bullish pattern and we have 2 bearish patterns that would still be valid if the First Bullish gets completed. So what i can do is that I can divide my position to the first target being the 38.2 or I can use the C leg, And then I can...

TheAlcoveFx

Hey Traders, Welcome back to our Trade Idea's and today the markets are setting up a Bat pattern in the AUDUSD H1 timeframe. This is a set up that we commonly trade here and that provides us a great RR with a high Win rate. As most of you know, Stops go above X leg which is where the pattern begins, and Targets could be anywhere from the 38.2 Retracement, all the...

TheAlcoveFx

Hey traders, This is a Bat pattern in the USDCAD H1 Timeframe. This is a pttern i have been waiting for the past few days. Grreat RR. As you know the rules of the pattern are very simple. Our stops go below X and targets are the 38.2 retracement and the 61.8 Retracement of the AD leg. Like always if you have any questions, comment below, follow us on social...

TheAlcoveFx

Hey traders, From what we know about trading, we know that there is really only 3 ways the market can move. It can go up, down or sideways. Sideways movement is called consolidation. In consolidation we get to use Fibonacci ratios to determine probabilities of success by selling or buying a 5th move of a 4 move prediction. In this case. we have formed what many...