Akil_Stokes
Short

CADJPY: Price Action & Structure

FX:CADJPY   Canadian Dollar / Japanese Yen
Hey traders! As you know I like to work on my craft my scrolling through a few pairs that are outside of my trading portfolio and practice my chart reading and predictive analysis.

Her eon the CADJPY             1 hour I would a potential trend continuation setup as price as recently created new structure lows and has started to retrace back into a previous level of support which we'll look to act as resistance.

It's Thursday and I just released my Weekend Review Trading video titled "Trading Consolidation/Breakout Patterns" going over the USDJPY             trade that I posted earlier in the week. https://www.youtube.com/watch?v=uClSXfPEVmU


Akil Stokes
Chief Currency Analyst & Head Trading Coach
http://www.TradeEmpowered.com -The Premier Online Trading Education Company


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Nice one Akil ,unfortunately this one it's out in your portfolio but for sure it's a gain of confidense .Have a Nice week with a lots of +Pips !!.TC
+1 Reply
Thanks
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I really like this setup here. On the Daily it's under the 200 SMA and showing a reversal on the Daily with 5-8-13 SMA. I'm literally at the peak here waiting for this to drop now. Lately Akil I have only been testing your trades waiting and watching for what your saying and I think I have finally found a method to keep me with higher wins and lower losses rather then the reverse. I have much to learn from you.
+1 Reply
Akil_Stokes Callaghanind
Thanks, I'm glad to see that my shares are having a positive impact in you becoming a better trader. Keep up the hard work and the results will follow!
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Akil, I meant the completition of a GARTLEY!!!!!
+1 Reply
I understood, don't worry
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Hi Akil, a beautiful one - but not my currency pair!! Did you not see the completition of the long bat pattern. X leg starts with the previous structure low. This would be my dilemma as target 2 would be above the kill zone. How would you handle this??
+1 Reply
Yes a few of our traders looked at this is the live room. My advice would be to stick with the trade that you're in first. There's nothing at this point that say this will end up being a valid short opportunity, so I see no reason to sacrifice the profit targets on your long trade.
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Whre is the pattern you are talking about? If it starts from previous structure low then it should already hit stops. Don't you consider a pattern to be invalidated as soon as it touches X?
+1 Reply
Akil_Stokes Alexander_Nikitin
Yes, I consider a pattern formation to be invalid once "X" is penetrated. However, if the trade who brought this up entered on the "D" completion they still may be involved in the trade and riding it out
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