Akil_Stokes
Long

EURJPY: Bullish Bat Pattern (Looking for alternate entry)

FX:EURJPY   Euro Fx/Japanese Yen
Looking at a potential bullish bat pattern here on the EURJPY             Daily timeframe . This isn't a timeframe that i trade from but I wanted to provide something for the longer-term traders.

As mentioned in a comment under my previous post, although I have a specific point of entry for each advanced pattern that I trade, we must remember that it doesn't mean price action will stop on a dime and reverse right then and there. Like anything else, in pattern trading we're still looking at potential reversal zones.

For this setup i'll be mapping out my potential reversal zone and as we work our way to the lower timeframes in my live trading room, we'll see if we can find an alternative reason to get involved.

Also on my radar $EURUSD $GBPUSD $USDJPY             $USDCAD & $AUDCAD

Good luck today traders.

Akil Stokes
Chief Currency Analyst & Head Trading Coach
http://www.TradeEmpowered.com

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some more analysis before i will enter ^^

- AB=CD
- Three dive pattern

snapshot
Reply
The Downtrend is So Strong on this pair , waiting for price to show me a indecision candle in the support zone , this pair also has bullish divergence ( price making lower low's while the oscilitator is making higher low's ) , just a matter of time until price shoot's up , patience ...................................................
Reply
Hey Akil, For past 1 year I am following you and wrote my trading plan with patterns and techniques you teach and am in Backtesting phase now. But I have couple of queries regarding Backtesting, would you clarify please..

1) Do I need to individually backtest each method (Gartley,Bat,Cypher,2618,DB/DT) on a pair or I can backtest considering all 5 and backtest it at one go ? Whatif,any methods superimpose on eachother while doing all at once ? Bcos, I can take one trade at a given time right ? What will be the ideal way to do backtest ?

2) My Trading timeframe is hourly, so how many trades are needed for backtesting to be considered as valid ? Around 200/300 Trades enough ?

Thanks in Advance !
+2 Reply
Backtesting is something we discuss in the later sections of the trading course, but the ideal way to backtest is to simulate it as close as possible to how you would trade live with the exception of a lot more data collection
+1 Reply
InsiderB Akil_Stokes
Yeah Akil, Thanks.
+1 Reply
no problem
Reply
I did just that on the USD/JPY. Large bullish Bat on the daily, used reasons on the 15M to get involved.

snapshot
+1 Reply
Fahad_88 Fahad_88
Double bottom, break of structure, 2618. RSI is O/S along with hidden divergence.
Please correct me if you see anything wrong with this. Your feedback is much appreciated Akil! Thanks!
+1 Reply
You don't need me to correct you, there's a very easy way to see if you did anything wrong. Check the trading plan and make sure you followed it step by step. IF you did THEN it was a good trade
+2 Reply
Aesome to hear, well done sir!
+3 Reply
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