USDJPY Long - Structure TradeIgnore the purple - that's a potential Gartley pattern on the daily time frame. While I wait to see whether price action completes the Gartley I am looking at a potential structure trade. Price action has been in a pretty strong uptrend but we can see bearish divergence on the RSI. So looking for a pull back down to previous structure for a long entry.
Structure-trade
AUDCAD - Structure TradeA number of possibilities on this trade. Price action closed just below the support of the flag with RSI not oversold. If price continues down to previous low there may be a possibility to go short on the pullback. That would also trigger a double-bottom which could create opportunities to go LONG!
Gartley pattern at a great levelSorry for posting it late, I have been busy. I actually left my orders with an ATM strategy and I got filled but the stop and targets were not placed. I guess that is why we forward test, right? I have no idea why that happened but I will have to figure it out. Anyways, if you front run your orders you may have been filled. We are on a bullish trend and with room left to go higher.
Good trading! Follow your plan!!
EURJPY - Bullish 2618+++ Don't forget to LIKE & Follow+++I have my eyes on a potential Bullish 2618 Setup on 15M here on EURJPY, and I think this is perfect counter trend trading opportunity .
You may ask why?
We don't only have a conservative entry reason in the face of this 2618 but we can stack on it.
The Double Bottom(foundation of 2618 Setup) is right at Structure Low - look left on HTF (1H).
The 0.618% is right at the V of the Double Bottom - and our kill zone start from there.
Not to mention that on left Bottom we have a RSI under 20 with a RSI DIV on 2nd Bottom.
You can enter aggressively right @ 0.618 or you can look for alternative entry reason - either way you choose you'll get more than 1:1 Risk/Reward.
No matter how perfect this setup is, stops are below this Double Bottom and 1st Target Retest of the cycle high - you can shoot 113.30 for 2nd Target.
Good Luck!
-Alex
I'm a Professional Currency Trader & Mentor with years of trading experience.
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USDCAD: Gartley, CTS & TCT Trading Opportunities Hey traders, the USDCAD as recently just broken a level of previous structure support opening the doors to some new analysis & new predictions.
As I break down this price chart the opportunities that I have on my radar are
LONG: A bullish Advanced Gartley Formation and a CTS trade featuring an AB=CD pattern at previous structure support.
SHORT: If we get a pullback into previous structure a trend continuation opportunity in advance of the potential trades mentioned above.
Syndicate members this trade was featured in tonight's video. Non-Syndicate members I just released a video doing some analysis on the EURUSD as well as walking you through the trade that I posted earlier in the week.
Akil Stokes
Chief Currency Analyst & Head Trading Coach
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USD/JPY: MAJOR STRUCTURE ON THE SPOTLIGHTAs USDJPY goes downwards, found support around @100.900, retested six times in the last
days, so it has become a major level of structure,
Right now waiting for a better price to enter in a long position
Optional targets may be the previous structure high
Remember Traders "Eyes on your mind, not on your trade"
Thanks
CortesTeam
EURUSD: A Very Interesting Scenario--> Bull Trade/Bear CypherInteresting situation that we have here on the EURUSD dollar. 1st and foremost the long that I took on the Sunday achieved initial targets at 1.1148, stops have moved to lock targets in & I'm shooting for 1.1220's to remove the next part of my position. (I'll walk you through this trade in Thursday's Video, if you haven't seen it already)
However, we also have a potential bearish Cypher formation which would complete at 1.1192. In the Syndicate I'm all flat the earlier trade because of our 1 in, 1 out rule so I have orders in place to short the Cypher if it completes.
However in my personal account I'm going to allow the initial trade to play out and then look to catch the Cypher at a higher level if the opportunity allows me to.
I always mention how trading is a "give & take" type of game. Well if you're going to be a trader that shoots for multiple/extended targets, sometimes it means passing up on other opportunities in order to let you idea play out. Unfortunately the hard part is that it also sometimes means making adjustments so that your don't get burnt. That's the part that comes with experience.
I'm sure we'll talk more about this in the Live Trading Room today as well as in tomorrow's YouTube video.
Akil Stokes
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Quick setup to join the trend.Nothing fancy here, just normal support/resistance rules with few bonuses
What i do like of the setup is the 100 EMA acting as resistance, and the .618 retracement of the last impulse leg coming right around too.
Nice divergence overbought in the RSI forming a double top, let's see.
Keep it simple, and focus on the process
Twitter: @JeanC680
Jean
USDCAD: Retest of previous structure SupportOne of the trades looked at in this morning's Live Trading Room session. Long USDCAD at 1.3019's on a retest of previous structure support.
Used an aggressive entry, but this opportunity as an excellent risk to reward on it.
Akil Stokes
Chief Currency Analyst & Head Trading Coach
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GBP/JPY: structure and fib confluenceAs we go down making lower lows, the price is getting close to a very nice point of confluence at @134.000 even handle
At this point we have the following:
61,8% fib retracement
1,272% fib extension
Structure alignment: support
We think we might get filled in this trade next week
Remember Eyes on your mind, not on your trade
Cortes Team
Thanks !
XAU/USD: Closing into a major support !After a dive of the past two weeks finally we are approaching an important level of structure
this support is in confluence with a minor fibonacci (0.50%)
In the higher time frames this could be seen as a Trend Continuation Trade, but for us, we just want to chunk some pips out of this leviathan that is why 61.8% is target 2
Remember guys: Eyes on your mind, not on your trade
Thanks
CortesTeam
Structure trade breakdown w/videoI just put out a video breaking down this trade that I entered last night. Here is the link.https://youtu.be/FZDU2nAuipc. Its a simple trend continuation trading setup, but it shows the value of knowing how to read structure. Also those who have already seen part 1 of the "pro trader course" that I am putting out on youtube, part 2 will be put out on 7/31/16. We will be covering Fibonacci, simple patterns and an introduction to harmonics. If you're interested in this, be on the lookout for the video. Thanks
USDJPY - Structure Trade+++ Don't forget to LIKE & Follow+++
I have my eyes on potential structure trade on 1H, USDJPY - looking for shorts.
If you look left you will see that price closed lower than PB (PullBack), confirming a bearish rotation in the market.
We can clearly see a kill zone(blue box) between previous PB and structure - and it should come as a surprise for you that price hit that kill zone and reversed.
I'm expecting price to test once again the that cycle top forming a Double Top with RSi being overbought on left top.
Stops will be based on that Double Top, for targets - retesting the NSL. We will get a little bit more than 1:2 Risk/Reward for that bearish rotation opportunity.
Good Luck!
-Alex
Professional Currency Trader & Owner of www.beaprofitabletrader.com
If you'd like to see more good trading ideas from me, click the "Like" button!
You can get my trading ideas immediately, just make sure to follow me.
AUDUSD: bullish outlook, but AUS CPI and Fed cause risksWhen looking at the daily for AUDUSD, I believe there's a clear uptrend visible, indicated by the orange trend line. H4 also shows lower lows and higher highs . Moreover, the lower level of the support area (indicated by the green arrows) has been tested multiple times and seems to be holding .
These are indicators that the pair could trend higher. We've seen a strong movement up to the first resistance level. From there, it's reasonable to think there will be a short retracement to previous levels, before continuing further up to the next key resistance level.
However, the upcoming Australian CPI announcement and the Fed's interest rate decision could invalidate this idea if the data proved to be different from the consensus so far. Anyone taking a position (any position really) should take care to keep in mind theses upcoming economic news releases.
For more forex insights and trading ideas, visit smartforexlearning.com and twitter.com
CADJPY: CTS Trade From This Morning's Training Lesson Each Monday I hold a private training lesson for our Transformation members and today the topic was the Combined Technical Scoring System (CTS)
During the lesson I talked to them about my personal journey & how I went from a very conservative CTS trader to someone who no longer requires a score. With that being said I've ingrained the process into my daily evaluation of a price chart & this was the example that I used to show them how I still use it without actually using it (if that makes sense)
Anyway, what we have above is a level of potential structure support that has been tested a few time is the recent past as both support & resistance. We also have an AB=CD patter, Fibonacci Ratio confluence & a potential advanced Bat Formation resting in that zone as well. This makes for a great example of taking the clues that the market provided with and putting them together in order to find quality trading opportunities.
Akil Stokes
Chief Currency Analyst & Head Trading Coach
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EURAUD: Consolidation Between Structure LevelsNothing much on the pairs in my trading portfolio, so looking at a few of my bench warmers in order to get some reps in before our Live Trading Day starts at 8.
We've had some decent back and forth action recently on the EURAUD and although this type of formation typically breaks out to the bullish side, I wouldn't be surprised to see a ppush down to 1.4700's first and even a retest of the channel lows.
Akil Stokes
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USDJPY: Structure/Advanced Pattern Formation ShortWe have a few things happening here on the USDJPY. First off we've had the completion of a Bearish Advanced Bat Formation at 105.88. Because the required risk to involve myself in this trade is outside of my allowable range, i've involved myself using structure & price action.
As we approach the pre-brexit highs, you'll notice that not only has the momentum started to slow, but we're also seeing bearish divergence on the RSI as we hit our resistance level.
Syndicate Members, if you haven't gotten to it already, this was one of the trades talked about in tonight's video so give it a look for a more detailed explanation.
Good luck in the markets this week traders! Let's trade smart and leave those emotions on the sidelines.
Akil Stokes
Chief Currency Analyst & Head Trading Coach
www.TradeEmpowered.com -The Premier Online Trading Education Company
Trade Empowered on YouTube goo.gl
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@AkilStokesRTM (Instagram, Periscope, Snap Chat & StockTwits)