Akil_Stokes
Short

EURJPY: 4 Hour Potential Double Top and/or 2618

FX:EURJPY   Euro Fx/Japanese Yen
For those looking to get short the EURJPY             we have a potential double top and/or 2618 opportunity setting up. Looking left, price action has made its way back into a previous level of consolidation where the bulls were rejected and are now looking to test for a second time.

The two trading opportunities that exist at this level are a double top sell at the candle close, or a 2618 for conservative traders looking for proof of a hold and a retest.

We've got our morning Warroom meeting at 8:30 (NY) then I'm getting ready for an awesome training lesson this morning at 9am on position sizing and trend continuation trading. Good luck out there in the markets this week.

Akil Stokes
Chief Currency Analyst & Head Trading Coach
http://www.TradeEmpowered.com -The Premier Online Trading Education Company
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Liking the 2-618. Good post Akil!
+2 Reply
Akil_Stokes PRO StarProsper
Thanks Phillip
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Oh, you still do 2618!? I've always wanted to backtest that strategy on the 30 min TF and see how well it does!
Please do more of these! lol
+1 Reply
I can trade 2618's but I've never used it as a strategy, meaning that i trade everyone that i find
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arvymayor Akil_Stokes
Thank you Sharing. Are you also trading advance pattern every time you find one?
+1 Reply
arvymayor arvymayor
I mean Thank you for Sharing*
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yes
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I actually just finished backtesting the 2618 strat on all the majors on the 4H. I really like this longer time frame because you don't have manage the trades so actively and it showed some great potential for at least 10 pairs.
EURJPY btw is not one of the pairs that made it to my tradeplan, not because it's wasn't profitable over the last 5 years, but it did not generate enough tradesetups for me to make any conclusions yet.
+3 Reply
SubTh3ory Buythelow
Heck yeah. Now did you use a software to backtest or did you do it by manually scrolling back a while and then just scanning the charts for double tops and bottoms? I find it extremely tedious to try and backtest but any sort of software I find that can really make it easier costs so much money.
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Buythelow SubTh3ory
I did it all manually, which should benefit me now when taking the actual live trades. I can now do this ridiculously fast.
+1 Reply
I agree one of the benefits of swing trading is that it takes very little time in front of the charts which opens up the "freedom of time" that we're all looking to get as traders
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Mate, five year is not enough for 4H. I will hardly generate 100 trade per pair. 5-year is good for 1H. 20-year is good for 4H.
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So you think this time it will break it and move upward?
+1 Reply
I have not clue what the future will hold. i can tell you this, if I did know that then I would be long everything I have
+2 Reply
arvymayor Akil_Stokes
LOL
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J_Graystone PRO Akil_Stokes
Take mine too!
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Thanks for sharing Akil, have had some good trades using the 2168
+1 Reply
Awesome, it's a nice simple technique
+1 Reply
2618?
+1 Reply
http://tradeempowered.com/learn-to-trade/
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thx Akil, nice chart.
+1 Reply
Akil_Stokes PRO enlascalles
Thank you
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it makes sense...but if you look at the daily we have the .382 around 134.15..its prudent to place your stops accordingly... i like that short 200 pips higher.
+1 Reply
Akil_Stokes PRO juklangel11
Awesome, that's the thing about trading we all have different analysis and different opinions and as long as we follow our rules we're all correct.
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juklangel11 Akil_Stokes
tsk Akil, agree 100%..tks for all your inputs.
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More to the fire...
snapshot
+1 Reply
Thanks for sharing
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Cha-ching ! You're on a roll this week !
+1 Reply
Akil_Stokes PRO Nico.Muselle
thanks
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Good post! 150 pips
+1 Reply
Akil_Stokes PRO JurgenSterk
thank you
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Nice to see that i have improved my RAS, and yes the C to D leg i longer that B :) This is my prediction :)

snapshot
+1 Reply
Nice thought
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Mberg PRO Akil_Stokes
Thanks :)
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