Akil_Stokes
Long

EURJPY: Bullish Bat Pattern With Better Entry

FX:EURJPY   Euro Fx/Japanese Yen
a year ago
Wanted to share with you one of the trades I got involved in after yesterday’s ECB reaction. It’s a bullish bat pattern on the EURJPY             which is now offering a slightly better entry. Just my opinion of course but I think the best place for stops is beneath the 1.3300 even handled psychological number. Yes it opens you up to a little more risk, but as we saw with last weeks $EURUSD trade (Which smashed through second targets yesterday) sometimes having a little extra protection makes it worth it. Your call of course follow your rules

Also if you missed it yesterday check out my latest Trading Video over at youtube. https://www.youtube.com/watch?v=GnGT7YuGvhI The reaction to this week’s video has been MASSIVE as I go on a great rant about the 3 Steps to changing your trading future as well as a breakdown of a simple pattern trade on the GBPUSD             .

I’m trying to reach 15,000 subscribers by 2016 so it would be a BIG help if you became a subscriber or at least shared the word with your trading buddies. Of course that’s only if you like the content.

Have a good weekend traders and Syndicate members I’m going to try and give you guys a quick video this morning before heading out of town.

PLAN YOUR TRADE, & TRADE YOUR PLAN

Akil Stokes
Chief Currency Analyst at Trade Empowered
Click here for 20+ hours of FREE Training
http://tradeempowered.com/learn-to-trade/
a year ago
Trade closed: stop reached: Boom!
Akil Stokes -Head FOREX Trading Coach at Trade Empowered
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"Plan Your Trade, Trade Your Plan"




1800
a year ago
am looking at the same exact bat akil..thanks for the confirmation
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Akil_Stokes TOP 1800
a year ago
You're welcome
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I entered this trade as a Gartley, it hurts to see that further drop, but close to the bottom at 133.55 I doubled my position adding to my previous one in hope that the awaited rally will come, so if it comes, I will have double profit, if it will drop further, 1.25 X loss. I think, mathematically it was a good decision... ;)
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In this one aswell, thanks for sharing.
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Akil_Stokes TOP timmynorin
a year ago
Sweet, and no problem
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I am also looking at this one. Thanks.
#EURJPY Bat Pattern Long  #Forex #Trade Idea
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Akil_Stokes TOP TradeYodha
a year ago
Nice a better entry
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TradeYodha PRO Akil_Stokes
a year ago
Thanks Akil
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EUR showing its weakness significantly today. Hope we get a good ride up there before the pattern gets invalidated.
EURJPY GARTLEY
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CanerSehit
a year ago
thank you Akil_Stokes...
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Akil_Stokes TOP CanerSehit
a year ago
you're welcome
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TheMarketTaker
a year ago
Hey Akil what's going on. I have a general question on Harmonics alone. Now I see that from your Bat Pattern Completion, your B-C Leg comes just shy of a 88.6% Retracement of A-B Leg. Now I have this sheet with, basically, from my understanding the rules for what makes a harmonic pattern completion. For this to be a Bat or Alt-Bat, it states that the B-C Leg has to retrace either 88.6% of A-B Leg, or 38.2% of A-B Leg. Is there matters of subjectivity for bat patterns or harmonic patterns? If there is, how can I be consistent in drawing my harmonics? Do I need a certain number of ratios to line up for it to be a pattern? Just trying to wrap my head around this concept.
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Akil_Stokes TOP TheMarketTaker
a year ago
Good question, yes there is subjectivity to advanced patterns because different traders will have different requirements for what validates them. The way to become consistent in trading them is to determine which set of requirements you want to follow, backtest them of course to make sure it has a positive expectancy and create strict rules for what YOU need to see in order to qualify it as a valid pattern.
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I´m still thanking you for getting my mindset straight again on your video anwsering my question with the drawdown, it made me feel a lot better and think different about it. I just got a minor question this time, how do you make this cool chart, where you´ve got the ATR inside the RSI indicator, it saves spaces and looks really good =D Keep doing what you do, it really makes an impact on people!

Kind Regards
Thomas Jeff
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Akil_Stokes TOP ThomasJeff_DCM
a year ago
That's a secret for me and me only...just kidding, I just put them on the same plane and changed the ATR setting to "Area"
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ThomasJeff_DCM PRO Akil_Stokes
a year ago
Thanks a lot for your anwser, i often wonder how many hours a day you must spend anwsering questions everywere, it must be a lot! I promise i will only ask serious problems from now on =D But thank you for even anwsering this small thing! Have a great week, and please kill the market now i am not able to hit as hard as i use to =D

Kind Regards
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Akil_Stokes TOP ThomasJeff_DCM
a year ago
No problem Thomas, you know what it feels like I'm answering questions 24/7 but you know what, as long as I can tell that it's a question from somebody truly working on improving then I'm honored to. The ones that frustrate me are the people that ask for shortcuts. But that's life for ya
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SubTh3ory
a year ago
Sine you're on here answering questions all over the place and all that jazz, I figured I'd ask a question myself. ;P

I've been looking at Akil Stokes strategy and Nial Fuller's strategy and at first I thought that yours, Akil, was using indicators to determine the direction of price. When I inquired about this, you told me it was straight Price Action.
Since then, I started studying Nial Fuller's stuff and raw Price Action seems a bit different than what you're doing here.
(Disclaimer, I don't have anything against your strategy, I'm just trying to find the best fit for myself).
With Nial, he basically just places Support and Resistance and determines, based on pin-bar signals at those S/R areas, where price will go.
On his charts, he only has the S/R area lines and nothing else, yet his trades are working out pretty good for him and his students.
When someone says "Price Action", I can see Nial's strategy as Price Action.
But yours doesn't seem that way. It seems like you're relying heavily on indicators and less on PA.
I could be wrong, but right now I don't see where I'm wrong at the moment.

I guess this is a two-Question thing:
1.) Is this Price Action only, and if so, why?
2.) What kind of success rate does this strategy return on average? (I haven't seen it talked about in any videos).

Regards,
- Paul
+1 Reply
Akil_Stokes TOP SubTh3ory
a year ago
Sure thing SubTh3or, I'm not sure what indicators you're referring to in my trading but the only indicator I use is the RSI which I glance after determining an area that I'm interested in. So I guess you can say I use it if there's a trade where I'm looking for extra confirmation. So yes, it is price action because I'm not using any indicators to determine by trade such as like a moving average cross over or a macd cross for example. 2) I've talked about in in many of my videos but in general I'm about a 55-60% trader. My advanced pattern trades hit higher than the structure based ones, but that's typically where I finish up when it's all said and done.
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SubTh3ory Akil_Stokes
a year ago
For some reason, I assumed the Gartley's and such were indicators as well. Based on what you're saying here, I suppose those are not.
In that case, you simply have a different Price Action strategy than Nial. Good stuff, Akil!

Thanks for the response.
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Akil_Stokes TOP SubTh3ory
a year ago
Gartley's, bats, cyphers etc. are considered to be advanced patterns. It's technically still price action because it's not indicator based, but those setups are more based off of a series of fibonacci ratios rather than strictly structure levels. It's for my structure trading where I pay attention to support and resistance, or if doing a tct type of trade, looking for the overall direction of the markets. Glad I could help clear things up
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SubTh3ory Akil_Stokes
a year ago
Now I'm sort of curious what Jason Stapleton's strategy is. I don't think it's the same as yours as far as I know. I've watched your stuff a bit more than I've watched his.

I also watched a video of his stating that there is a system that supplements tracked traders with large funds to trade in order to make larger profits than they were able to before.
I have only seen that mentioned in one video (there's so many).
I'm wondering if this is something that can be provided to anyone who is successful with any strategy, or if it has to be yours or Jason's.
+1 Reply
Akil_Stokes TOP SubTh3ory
a year ago
It sounds like you're talking about Main Street Alpha, if so then it doesn't matter what strategy you trade, it's simply a place where you can show off your track record if you're looking to get funded and start managing money. Jason and i both trade various strategy. I bring this up because it seems like you're under the impression that we trade one way and one way only. So i felt that I needed to say that to help clear up some of the confusion. My advice, check out our Syndicate program. It's $1 for the first month and is a perfect place to check out if you want to become familiar with how we trade. If you have no interest in our style then cancel before the first month is over that way you don't get charged the full price. That's probably the best way to get a real idea of how we trade instead of trying to piece things together from tradingview posts or videos where I often have to cut up the analysis in order to make it fit. http://promos.tradeempowered.com/syndicate-1-trial/
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SubTh3ory Akil_Stokes
a year ago
That actually sounds like a great idea. I'll see if I can get myself organized for one full month (I have an infant) and perhaps I'll be able to get started on that. Thank you!
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Akil_Stokes TOP SubTh3ory
a year ago
No problem, My first is about to turn 1 soon. Man do they keep you busy. What's sleep?
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SubTh3ory Akil_Stokes
a year ago
Exactly! ;)
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Akil_Stokes TOP SubTh3ory
a year ago
Sorry Paul...didn't see your real name until the very end. my apologies
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SubTh3ory Akil_Stokes
a year ago
No worries. ;o)
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ThomasJeff_DCM PRO SubTh3ory
a year ago
Paul i don´t want to trow mud at anybody teaching other methods, but i am a former student of the so called Nial Fuller.. And i wasted 8 months with his method before i backtested it, and found out it will never make money. Its funny he keeps saying don´t backtest its stupid it don´t show real life results... Well i both forward tested and backtested it.. Then i found Chris Capree that did kind of the same thing.. Same results.. Then i found Trade empowered and i never looked back. Please backtest his system before you start trading it, cause its a highway to the dangerzone.. I only want to save you time and money with this guy and Chris. No intention to interupt your conversation with Akil. Just wanted to share my bad experince, or more so wasted time.

Kind Regards
Thomas Jeff
+1 Reply
SubTh3ory ThomasJeff_DCM
a year ago
Two reasons I am working with Nial's Strategy right now:

1.) The person that introduced me to Forex did so with Nial Fuller. He has been using his Strategy for several years now. He at the time, he had a house and two vehicles.
Three years later, he now owns two houses, one fully paid off and three brand new vehicles. I don't know what your problem with Nial Fuller is, but I'm surely not biting since I literally know someone in real life that is successful with Nial's strategy alone.

2.) Nial's strategy suits me. I can follow it much more easily and am more successful in my demo accounts than with other strategies. It simply suits me.
Akil's Strategy is fine, I just lose interest when I try to follow him.
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SubTh3ory SubTh3ory
a year ago
Note: Not because of Akil himself. I honestly watch Akil the most because he is just enjoyable to watch in general. He puts me in a good mood when I'm not feeling too great. He also has a lot of general information about Forex that helps ALL traders, regardless of your trading style. I just had to clarify. Sounded like I was saying Akil is boring lol..
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Akil_Stokes TOP SubTh3ory
a year ago
Great conversation guys. Love the fact that Thomas isn't just bashing another trader, rather encouraging you to backtest first and love the fact that Paul said "It Simply suits me." I'm a big believer in that not only should a strategy be profitable, but it also needs to mesh well with your personality/philosophy about the markets. If not you'll always be fighting yourself. GREAT stuff guys!
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ThomasJeff_DCM PRO SubTh3ory
a year ago
It would be great if you could make it work better than me, its very very simple and on daily charts, so you only need very short time each night to check for setups.
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Akil_Stokes TOP ThomasJeff_DCM
a year ago
How much was his course Thomas? You've got me interested.
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ThomasJeff_DCM PRO Akil_Stokes
a year ago
I actually just recived a video the other day cause i´m still a member there, i think i saw on the side that it was on sale for 300 AUD So it ain´t bad, but if you want to learn more about price action Chris Capre is probably my best bet even though his method was too complicated for me. Where as Nial is just support resistance and 3 different candle formations.
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Akil_Stokes TOP ThomasJeff_DCM
a year ago
Thanks, I wasn't worried about learning price action, more so about what the guy is teaching since you said "it doesn't work" yet Paul said "it did." I usually take a course or do some type of continued education during the holiday break and thought it was interesting to see what exactly he's teaching an why it doesn't work. (if that's the case ofcourse).
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ThomasJeff_DCM PRO Akil_Stokes
a year ago
Heh i did not think so either, the structure method from you guys is the best i ever came by, it really made it click for me. Well i could explain his course here in 3 lines, but it would not be fair, especially not if somebody actually made it work. its 3-4 years since i took it, i never went back to see if it got updated, i think its a project for tomorrow.
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SubTh3ory Akil_Stokes
a year ago
Basically, it's just taking trades off of pin bar signals that form at key resistance or support levels. The strategy is best used on higher timeframes (i.e. Daily, 12hour, 8hour, 4hour) and takes note of Fibonacci levels as well.
At the core, it's very basic. His advanced course adds more details, but it's still very basic.

One of his former students branched out and teaches an even more simplified version of Nial's strategy. His name is Nick Bencino. He teaches at forex4noobs and it's so simple a child could understand it.
This is the reason I didn't know that your material was still Price Action because I was under the impression that Price Action was purely Support and Resistance, with some candlestick patterns in there.
+1 Reply
SubTh3ory Akil_Stokes
a year ago
Note: Nial is very particular about his advanced material being leaked. I'm not going to elaborate too much on it for that reason. But yeah, the price isn't so bad considering you don't pay anything after the initial price.
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Akil_Stokes TOP SubTh3ory
a year ago
Thanks, hopefully I'll have so time to check it out at some point. If I learn something news that's fantastic! If not, then it's just another Tax write off. lol
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SubTh3ory Akil_Stokes
a year ago
I'm curious to see what you'll take from it. It's possible it will be another tool to add to your trading toolbox. We'll see.
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Milad.Trader
a year ago
we have two patterns
Alt Bat and ABCD
long whit small stop

Best

snapshot
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Milad.Trader Milad.Trader
a year ago
ALT BAT

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Koryphaeen PRO Milad.Trader
a year ago
In Alt Bat pattern shouldn't AB leg complete at the 0.382 retracement level of XA leg?
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Milad.Trader Koryphaeen
a year ago
Ideal state , yes . should be 0.382
but can an extended 0.618
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Milad.Trader Milad.Trader
a year ago
Because FOMC , set stop to BE .



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Akil_Stokes TOP Milad.Trader
a year ago
Love the Tagline on your profile!
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Milad.Trader Akil_Stokes
a year ago
You should also love my analysis :) .
thanks for your comment.
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Akil_Stokes TOP Milad.Trader
a year ago
I don't necessarily agree with it, which is why i didn't comment on it, but we're traders after all, this whole industry is built off difference of opinions
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rozela99
a year ago
Im still holding on my the skin of my teeth. Price came within 2 pips of my stop loss@132.90.
snapshot
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Akil_Stokes TOP rozela99
a year ago
Nice, i'm pulling for you man!
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rozela99 Akil_Stokes
a year ago
Thanks this trade has really tested me. I just keep walking away from computer. I even unistalled my brokers app from phone.
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rozela99 rozela99
a year ago
Now im stopped out
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Akil_Stokes TOP rozela99
a year ago
ahh sorry to hear that. Still when it goes in your journal it should have "good trade" next to it
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Koryphaeen PRO Akil_Stokes
a year ago
Yes, I agree with you all, this was a nerve killing and teeth crunching trade... this is a good example for "PA always could go lower"...when you think that bearish momentum is exhausted...
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akhostov PRO
a year ago
Nice setup. Thanks for sharing. I had this on my chart but didn't act on it.

Currently watching this Alt Bat. Hasn't reached completion just yet.

Based on what I see (although still learning) is that price action has passed through structure highlighted in pink. The Alt Bat completes close to a 2.0 AB extension and the 0.382 CD target is within minor structure at 134.15

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