Akil_Stokes

GBPJPY: 2 Potential Advanced Patterns (An Updated Analysis)

FX:GBPJPY   British Pound/Japanese Yen
11 months ago
As I showed you in yesterday's video, the fun thing about trading is the fact that we are constantly updating and adjusting our analysis to go along with the recent price moves.

The recent moves on the GBPJPY             have eliminated my harmonic predictions, yet have opened up a new opportunity in the form of a second advanced pattern.

Akil Stokes
Chief Currency Analyst & Head Trading Coach
www.TradeEmpowered.com
Check out my FREE Trading Videos https://goo.gl/u5kDC3

Twitter/Periscope/Stocktwits/Instagram @AkilStokesRTM
Facebook: https://goo.gl/7k0KvC
11 months ago
Trade active
11 months ago
Trade closed: target reached: This caps off a very good day of trading 3 wins 1 loss. (not to mention Jason's +134 this morning) Much needed after last weeks struggles
11 months ago
Comment: The potential Bearish Gartley pattern is now invalid
11 months ago
Trade closed: target reached: Final targets achieved 100% flat. Well done gang
Akil Stokes -Head FOREX Trading Coach at Trade Empowered
Check Out Our Free Training https://goo.gl/5e8Jcr
TradeEmpowered On Youtube https://goo.gl/IscNch
Akil Stokes on Youtube https://goo.gl/u5kDC3
"Plan Your Trade, Trade Your Plan"




Waiting for bear gartley as trend continuation)
+1 Reply
Akil_Stokes TOP Alexander_Nikitin
11 months ago
That's a sweet level to get involved at
Reply
Alexander_Nikitin TOP Akil_Stokes
11 months ago
I was only bearish opn this pair, so I took smaller cypher right after you have closed your position))
snapshot
Reply
JoMarshall
11 months ago
It's actually 3 Patterns now

snapshot
+1 Reply
Akil_Stokes TOP JoMarshall
11 months ago
Thanks for the share. However that 3rd one that you added isn't any kind of pattern that i would trade.
Reply
JoMarshall Akil_Stokes
11 months ago
It's a gartley but of course your gartley rules are different from mine.
Reply
DKrastev
11 months ago
Thanks, Akil for the post. Just one question, aren't the ratios of the Bullish Bat pattern the ratios of a Gartley rather than a Bat (the ratios for B and C of the Bat are actually around 61.8).
+1 Reply
Akil_Stokes TOP DKrastev
11 months ago
The bat pattern becomes invalid once a 61.8 fibonacci retracement is hit
Reply
YemiTrader
11 months ago
Nice Analysis Akil, i just have one question. IF the bullish bat pattern is triggered first, will that invalidate our bearish gartley pattern?
+1 Reply
Akil_Stokes TOP YemiTrader
11 months ago
Not necessarily, it all depends on how far that D completion pushes
Reply
JC_Saints
11 months ago
Stop ? if any :)
+2 Reply
Akil_Stokes TOP JC_Saints
11 months ago
Yes I do have a stop on for this trade. i think it's very important that we always use a stop loss just to prevent any uncertain moves
Reply
StarProsper
11 months ago
Nice post Akil, always active now in this trade :)
+1 Reply
Akil_Stokes TOP StarProsper
11 months ago
Thanks, where have you been buddy hanging out in the London Live Room?
Reply
after the price cross the X leg shoud i wait for the price to back to break even and exit the trade or should i wait untill it hit my stop lost even if the price pass the X and back to my entry
+1 Reply
Akil_Stokes TOP faisalhasnoon
11 months ago
I would wait until price action hits your stop since that is the [rice that you designated to get out if if the trade didn't go your way
Reply
faisalhasnoon PRO Akil_Stokes
11 months ago
i am a syndicate member and once i remember you say that sometime you have this grateful strategy that if the price pass x you wait for break even but i think i understood wrong :)
+1 Reply
Akil_Stokes TOP faisalhasnoon
11 months ago
Yes, the technique that you're thinking of is called the "Graceful Exit" where you look to get out at breakeven or at minimal drawdown
Reply
faisalhasnoon PRO Akil_Stokes
11 months ago
thanks a lot akil you are such a great guy and the syndicate is one of the great things you guys do i belive it's much better than any course out there ..thanks
+1 Reply
Akil_Stokes TOP faisalhasnoon
11 months ago
Thanks, but please no that the Syndicate is not a course, it's just an entry level program for traders to get a feel for how we operate. So just imagine what the real course is like ;-)
Reply
jameschan.au
11 months ago
Thanks Sir.
+1 Reply
Akil_Stokes TOP jameschan.au
11 months ago
No problem
Reply
FawadJawed Akil_Stokes
11 months ago
Hi Akil why you closed the trade so early doesn't it look going much more than this ?
+1 Reply
Akil_Stokes TOP FawadJawed
11 months ago
I closed the trade because price action has reached our 1st target price point
Reply
Akil_Stokes TOP FawadJawed
11 months ago
It's crucial that we have a consistent way to take off positions that way it doesn't become an "I think" "I hope" "I feel" type of deal. Those types of emotions will get us into trouble
Reply
dangap
11 months ago
There is also looks to be a cypher nearing completion too
+1 Reply
dangap dangap
11 months ago
Cypher entry has been triggered
Reply
Akil_Stokes TOP dangap
11 months ago
I'm not seeing any cypher but good luck man, hopefully you can make some back-to-back pippage on this one
+1 Reply
TAng
11 months ago
how tp price now i trading time fram day -1933 point
what you think long team all pleplo buy gbp or jpy ?
the jpy hing debit have to jpy low value
but gbp low debit have to gbp hing value
what you think
+1 Reply
Akil_Stokes TOP TAng
11 months ago
I have no clue what the people are going to do. I just trade what I see on the charts
Reply
balochali235
11 months ago
HMM GUD IDEA
+1 Reply
Akil_Stokes TOP balochali235
11 months ago
Thanks
Reply
balochali235
11 months ago
snapshot
+1 Reply
Akil_Stokes TOP balochali235
11 months ago
did you mean to share a chart of the Cable?
Reply
Chris_O_Brien
11 months ago
snapshot


We have this to look for in the coming hours/days
Reply
weiwei
11 months ago
Hey Akil, thanks a lot for sharing that. Followed it and banked it. One question here, I remember Jason mentioning in one of his videos that we should adjust out target using Fib from A to the actual D point, in this case 169.155. I wounder what's your take on that and is that part of your trading plan.
+1 Reply
Akil_Stokes TOP weiwei
11 months ago
I completely agree with that, unless your using structure d not doing so is an incorrect way to use the Fibonacci tools
Reply
weiwei Akil_Stokes
11 months ago
thx, I also think that makes a lot sense. But how do you deal with risk-reward? Say a Gatley pattern and you expect a 1:1 risk-reward ratio. But after entry is triggered, price go beyond and adjusting your Fib to the actually completion point gives a really bad risk-reward ratio. Should you foresee that and maybe not take the trade at the first place?
+1 Reply
Akil_Stokes TOP weiwei
11 months ago
No you'll either have to adjust targets to meet a 1:1 criteria or accept the new risk/reward for what it is. You never want to avoid a good trading opportunity due to fear
Reply
JC_Saints Akil_Stokes
11 months ago
do u trade type II Akil or only Type I ?
+1 Reply
Akil_Stokes TOP JC_Saints
11 months ago
I adjust targets with current price action
Reply
JC_Saints Akil_Stokes
11 months ago
oh I know that, I followed you, I was part of live room quite a few times !! I am talking about entering a trade on Harmonics Pattern. I know you do type I. But I was wondering if you do Type II, cause I don't think I ever saw you enter an harmonic trade on type II, which a sort of double top/bottom on PRZ after already having reached or get very close to Target 1.
+1 Reply
Akil_Stokes TOP JC_Saints
11 months ago
Yeah i remember you JC. By type 1 or type 2 I thought you were referring to the question i was asked about. (First time hearing that terminology). After a pattern has completed a move to initial targets I remove my entries if I missed my fill
Reply
JC_Saints Akil_Stokes
11 months ago
ok I read for the second time scott Carney books, and that is where (book 2) he explains what is type II (basically what I wrote). If you are interested I am sure there are video on that subject on youtube. Anyway, take care.
+1 Reply
Akil_Stokes TOP JC_Saints
11 months ago
Glad I could answer your question. have a good one.
Reply
jhakas
11 months ago
gj weekly..

snapshot
Reply
Ideas Scripts Chart
United States
United Kingdom
India
España
Italia
Brasil
Россия
Türkiye
日本
한국
Home Stock Screener Economic Calendar How It Works Chart Features House Rules Moderators For the WEB Widgets Stock Charting Library Priority Support Feature Request Blog & News FAQ Help & Wiki Twitter
Private Messages Chat Ideas Published Followers Following Priority Support Public Profile Profile Settings Billing Sign Out