One thing about this particular pattern that you may want to keep an eye out for is the potential risk/reward. The safest place for a stop loss is going to be below the 1.1150’s level and because it’s not a deep “D” completion that may mean stretching your risk reward ratio past 1:1 if you want to be down there. That’s a personal decision obviously, but I do think it’s something to think about if taking this trade.
Chief Currency Analysis at Trade Empowered
Click here for 20+ hours of FREE Training
Click the link below to subscribe for more FOREX TRADING videos
FREE Training & Workshops - http://buff.ly/2udJgeT
My Latest Trading Video - http://buff.ly/2h2rB5i
Educational Services - http://buff.ly/2h2c5qg
You have posted 7 pattern trades that filled since you last had one that hit target 2. Six of them blew right through X and the other one only hit target 1. I know if I look deeper in to your past charts I would see more of the same. If the probability of hitting the 61.8 retracement after hitting point D is less than 15% and the probability of hitting the 38.2 retracement after hitting point D is less than 30% it is mathematically impossible to have a positive expectation in the long run. Everyone loves to chalk up poor results to variance, but that excuse only goes so far. CassowaryCapital and many others would just like some kind of proof that this is a way to actually make money and not just lose it.
So the last 6 trades.. Somwtimes i got 6-8 loosing trades but then i have 10-13 winning trades in a row too. So you cannot judge one out of a handfull of trades. After 50 trades or 100 maybe. so be realistic about what you are talking about, this is not a paid service so you can not complain about what other people post. I trade harmonic patterns only 2 of the patterns but i just hit the 59% mark today in 4½ month. So it can be very profitable but you need to learn first!
Pattern trades are mecanical setups so a setup is a setup, ofcourse there can be factors like support resistance, structure and RSI conditions that can make it a good or less good setup but over all it don´t make a big difference cause they often appear in choppy market conditions. I hate forums cause of the discussing behind the screen to screen. I gave you my opinion from a trader that actually learned to trade from Akil so maybe you should educate about the subject and then come back in stead of comment on something you don´t like in stead of just look at something that fits your trading methods.
I knew many Successful traders,
I knew many fund managers,
There are many kind of traders I knew,
1.The traders who just trade and never post anything in social, They are very very successful in trading career.
2.The traders who are a fund manager and always post video, charts, live trading, free trading course, free trading camp, all FREE 100% FREE, and They are very very successful in a trading career.
3.The traders who sell the Books, courses, signals, always always public on SOCIAL, always promote in every way , They are very very successful also, but not a trading, almost income from the other way not from a trading.
4.The traders who is very very successful in trading , and just share their knowledge by writing some books,
I understand that There are many ways to make money in trading career.
but at least sharing and posting the quality one not stick on the most request, that is the business not a sharing .
There are many success trades from 10 others pairs , please share it.
I will stop using trading view permanent.
for 2 years , I have used it, made me see anything so weird in tradingview.
I have too much free time for social.
A- Don't trade patterns?
B- Don't follow other's who trade patterns?
C- Don't Like what Akil's posts?
D- Seeking more Data on Pattern trading?
E- Looking how to buid it into your own trading plan?
F -Learn pattern trading ?
G- Perform Critical Analysis of the post ( or all posts on patterns) ?
E - AOB?
Good thing is, once we get stopped enough, we can tell the market isn't trending anymore and we can change strategies to trading the range extremes using momentum/bollinger bands/patterns near oversold extremes, etc.
If you have ever read my posts, you would know that I use advanced patterns extensively and they are integral to my trading system. You want to knit pick on winning trades using advanced patterns? I recently posted a summary of my DOCUMENTED trades here on Tradingview on the USDJPY pair that is a pair that I closely follow in which the past 1+ months, I've posted winning trade after winning trade to the tune of over +2200 pips! And advanced patterns were all involved in those trades, dude! Yes, my strategy does not ONLY use advanced patterns but they work! I haven't done a summary of the EURUSD pair but I can tell you off the top of my head that my POSTED trades in this pair also have made hundreds if not thousands of pips. DOCUMENTED trades. Sure, there are losers in there but my losing trades usually lose under 100 pips and most times...much less than that! While my winning trades regularly bring in hundreds of pips per trade. So I don't know what is your beef with advanced patterns or Akil for that matter but you just gotta either CHILL with your criticisms or just find something else to occupy your time! I look at your posts and I can see that you use a breakout strategy. I can criticize that all the live long day. But why waste my time on such banality? I've got so much better things to do like plotting my next winning advanced pattern trade!
Yes, like Akil and many others here, I only post a portion of my actual trades. Why? 1. I don't have so much time on my hands to be able to post and follow up properly if I were to post all my trades. 2. Although I don't run a teaching academy like Akil, I also have private clients who pay me for my analysis and they would not be so happy to see me posting trades for free that they pay for! But I can assure you that they make PLENTY OF MONEY from my analysis. Look at my posts and you'll see that I put A LOT OF TIME and effort into them.
So either just remove any poster who even draws an advanced pattern or mentions a bat or else, do what you said and keep your word....just remove yourself from tradingview altogether. Negativity like yours we can all do without! Peace!