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2618 Trade

Double Top & 2618 on GBPJPYHey guys, this is a pair i've been looking at for the last weeks, and it turned out to be a good setup. Now price managed to break and close below the double top's neckline and that gives and indication of its intention to go lower. As usual, when such cases happen i look for a 618 retracement and sell at market, in according with the 2618 strategy. Stops would go above the tops, target 1 at the retest of the lows, target 2 to be determined. If you want to share your view or simply ask questions, feel free to comment below. Otherwise, see you in the next chart!
Short
by Roker1
EURAUD Head & Shoulders/2618 (It's Not As Confusing As it Looks)So tonight I wanted to revisit a pair that we looked at this weekend, but first of all congrats to anybody that was able to catch all or part of the painless 100+ pip drop!! (RING THE REGISTER!) Now the question is what's next? and my answer may not be what you're expecting. Despite price pulling back into our previous level of structure, I still have a higher time frame bullish bias on this pair and am looking for a potential bullish head & shoulders pattern to set up. If you're a trader that likes to trade this type of pattern at the right shoulder instead of the neck line then a secondary 2618 looks to be a good way for you to get involved. \ Tomorrow evening 9:30 & 11pm (New York Time), we have news releases from the Aussie, which is always,,,"interesting" considering how thin the markets are during that time. If the chart above seems a little confusing, keep an eye out for the video release as that may clear up any questions that you may have. Of course feel free to leave them below as well as I try to answer everyone when I have the time. DO ME A FAVOR & TAKE A SECOND TO HIT THAT LIKE BUTTON AS WELL WHILE YOU'RE DOWN THERE. Also "Don't Feed The Trolls" (DFTT) so if someone leaves a negative comment under a question or comment that you post, just ignore them, they just want attention to help brighten their sad existence. LOL Akil Stokes DFFT (Maybe i'll start a movement with this saying) P.S. I'll update when the video is out assuming I'm allowed to do so via the tradingview house rules. GOOD LUCK THIS WEEK!
by Akil_Stokes
12
EURAUD - 2618 trading opportunity This is a very interesting chart because it encompasses a battle between the two strongest currency pairs as of late. After putting in a rotation on the higher timeframe the EURAUD has retraced back into a powerful level of structure resistance and has created a double top. The double top has proven to hold and price is now offering a second opportunity to get short in the form of a 2618 trade setup. Akil Now Back to The Open Championship
Short
by Akil_Stokes
15
EURUSD at the top. Time to fall?Hey guys, this is the hourly chart on EURUSD. If you're wondering why i'm in this chart, that's because EURUSD has hit the superior edge of the consolidation channel that's trapped it for more than 2 years. When i'm in a high location i always look for shorting opportunities, and if we're in a daily structure i'm allowed to use 4hr and 1hr chart in order to find trading opportunities. Here's in the form of a double top broken to the downside. This is a 2618 strategy and it consists on selling the 618 retracement of the leg that breaks the neckline. Stops above 1,17, targets as displayed atm. If you want to ask questions or share ideas, feel free to comment. Otherwise, see you in the next chart!
Short
by Roker1
GBPUSD - Retest of Structure ShelfThe GBPUSD is a pair that we've had on our radar from the beginning of the week for a few different reasons. Initial there was a 2618 Opportunity setting up (which is technically still there), but there was also a smaller trend trading opportunity setting up at the retest of the double tops lows. Price ended up consolidating at the smaller structure level before eventually dropping and creating a new structure low. Now as we look to retest that level, I have potential shorts on my radar once again Bigger picture I'm not too sold on projecting a bearish move as I think the path of least resistance is still to the upside, so entries and target taking on this potential trade will be extremely conservative. Akil TGIF
Short
by Akil_Stokes
6
AUDUSD - BEARISH 2618 TRADING OPPORTUNITY I must of missed this one earlier but the $AUDUSD is setting up a bearish 2618 opportunity. After rallying to previous structure resistance (seen on higher timeframes) price has now given us a double top with a break and close below. A pullback into structure would present us with a 2618 shorting opportunity with the potential to trade price down to our previous structure highs which line up right with a 38.2 Fibonacci retracement level. Akil Stokes "So Tired...Oh I'm So Tired"
Short
by Akil_Stokes
30
GBPUSD - The Next Move LowerLast week we took a look at a potential Bearish 2618 opportunity on the GBPUSD and it couldn't have played out any perfectly. Now that the first part of the move has been made, the send prediction was a continuation down to the $1.28 level (or just above) Currently, we've created a new structure low and are putting in a bearish flag pattern. This week I'll be looking for ways to hop on the retracement & sell this pair down to the next level of potential structure support. For more details on this trade you can always check out the video that I uploaded yesterday. Akil Stokes Plan Your Trade, Trade Your Plan"
Short
by Akil_Stokes
12
Double Top with Break to the Downside on GBPUSDHey guys, here you can see the hourly chart of GBPUSD: i'm in here because of my higher timeframe analysis that allows me to highlight a structure area (yellow box) from the daily timeframe. When price touches such zones it usually reacts, giving us an edge to exploit the market. In this case you can see price has formed a double top followed by a break of structure to the downside, meaning bears are taking control. With a 618 retracement it's good to sell, with stops above highs and targets as shown above. Trade safe, always. If you have questions or ideas to share, feel free to comment below. Otherwise, see you in the next chart!
Short
by Roker1
GBPUSD: Daily Bearish Bat, 4Hr Potential 2618 Hey Traders! On my radar for this week is a potential 2618 opportunity on the GBPUSD. The fact that it's hard to differentiate this opportunity from a double top or a trend continuation trade leads me to take a more conservative approach when looking for shorts. If you're a higher timeframe trader, an expansion from this level will also push you towards the "D" completion point of a bigger bearish Bat formation. For a more detailed video walkthrough of this trade and the bigger one make sure you check out this week's youtube video Akil
Short
by Akil_Stokes
20
eurnzd short 2618the market has been trending down for a while on 4 hr time frame....recently has been in a nice descending channel on 1 hr....previous double top (yellow bubble) (notice rsi downward divergence and upward movement on chart inside of yellow bubble) looking for shorting opportunity around 1.514142 (61.8) looking for possible evening star pattern or engulfing pattern or lower low lower close in red box... it may hit the top of the channel (which is in line with the 61.8) and have a nice rejection (most aggressive entry would be right at the 61.8)...... (more confluence if we are oversold around those levels). My Stops will go above 1.54800 tp at 1.53309
Short
by brww03