Akil_Stokes
Short

EURJPY: 4 Hour Potential Double Top and/or 2618

FX:EURJPY   Euro Fx/Japanese Yen
a year ago
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
www.TradeEmpowered.com -The Premier Online Trading Education Company
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a year ago
Trade active
a year ago
Trade closed: target reached
Akil Stokes -Head FOREX Trading Coach at Trade Empowered
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"Plan Your Trade, Trade Your Plan"




StarProsper
a year ago
Liking the 2-618. Good post Akil!
+2 Reply
Akil_Stokes TOP StarProsper
a year ago
Thanks Phillip
Reply
SubTh3ory
a year ago
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
Akil_Stokes TOP SubTh3ory
a year ago
I can trade 2618's but I've never used it as a strategy, meaning that i trade everyone that i find
Reply
arvymayor Akil_Stokes
a year ago
Thank you Sharing. Are you also trading advance pattern every time you find one?
+1 Reply
arvymayor arvymayor
a year ago
I mean Thank you for Sharing*
Reply
Akil_Stokes TOP arvymayor
a year ago
yes
Reply
Buythelow
a year ago
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
a year ago
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.
Reply
Buythelow SubTh3ory
a year ago
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
Akil_Stokes TOP Buythelow
a year ago
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
Reply
Alexander_Nikitin TOP Buythelow
a year ago
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.
Reply
CraigRan
a year ago
So you think this time it will break it and move upward?
+1 Reply
Akil_Stokes TOP CraigRan
a year ago
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
a year ago
LOL
Reply
J_Graystone PRO Akil_Stokes
a year ago
Take mine too!
Reply
Stink
a year ago
Thanks for sharing Akil, have had some good trades using the 2168
+1 Reply
Akil_Stokes TOP Stink
a year ago
Awesome, it's a nice simple technique
+1 Reply
Raja Ajmal
a year ago
2618?
+1 Reply
Akil_Stokes TOP Raja Ajmal
a year ago
http://tradeempowered.com/learn-to-trade/
Reply
enlascalles
a year ago
thx Akil, nice chart.
+1 Reply
Akil_Stokes TOP enlascalles
a year ago
Thank you
Reply
juklangel11
a year ago
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 TOP juklangel11
a year ago
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.
Reply
juklangel11 Akil_Stokes
a year ago
tsk Akil, agree 100%..tks for all your inputs.
Reply
jsomoza
a year ago
More to the fire...
snapshot
+1 Reply
Akil_Stokes TOP jsomoza
a year ago
Thanks for sharing
Reply
Cha-ching ! You're on a roll this week !
+1 Reply
Akil_Stokes TOP Nico.Muselle
a year ago
thanks
Reply
JurgenSterk
a year ago
Good post! 150 pips
+1 Reply
Akil_Stokes TOP JurgenSterk
a year ago
thank you
Reply
Mberg PRO
a year ago
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
Akil_Stokes TOP Mberg
a year ago
Nice thought
Reply
Mberg PRO Akil_Stokes
a year ago
Thanks :)
Reply
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