Akil_Stokes
Short

AUDJPY: Advanced Bat Formation & Double Top

FX:AUDJPY   Australian Dollar/Japanese Yen
As the AUDJPY             works it's way up towards previous structure highs, it's also created the potential for a Bearish Advanced Bat Formation as well as a potential double top (With the RSI overbought/showing bearish divergence)

Looking left on the Daily timeframe it's also at a previous level of structure adding more for those looking to build a case for entry.


Akil Stokes
Chief Currency Analyst & Head Trading Coach
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nice work akil ,
+1 Reply
Thank you
Reply
Will you use the small bat pattern in 15m tf as reason for entry?
+1 Reply
No I will not
Reply
That doesn't make it a bad idea though
Reply
What are you're targets here Akil?? Somewhere around the 77 mark??
+1 Reply
Akil_Stokes PRO RJHumphries
Initially they'd be right above the retest of the "B" leg
+1 Reply
snapshot
agree mate
+2 Reply
Akil_Stokes PRO Wave-Trader
Thanks for the share
Reply
Reversal has started on the 1h TF. Trade ON
+1 Reply
YoussefRazak YoussefRazak
snapshot
Thats the plan
+1 Reply
Akil_Stokes PRO YoussefRazak
Awesome, good luck!
+1 Reply
0.618 as target
Reply
Akil, i am still in this position. Waiting to fold out. One way or another.
Reply
Targets hit FULL PROFIT taken. Wow that was a hell of a waiting game. It taught me the benefits of patience, that trade took over 2 weeks but got some good pips and a tidy profit. We learn all the time. Thanks Akil, you is a legend
+1 Reply
Akil_Stokes PRO RJHumphries
Thanks RJ, those are some of the best lessons
Reply
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