Akil_Stokes

GBPJPY: 2 Potential Advanced Patterns (An Updated Analysis)

FX:GBPJPY   British Pound/Japanese Yen
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
http://www.TradeEmpowered.com
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Trade active
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
Comment: The potential Bearish Gartley pattern is now invalid
Trade closed: target reached: Final targets achieved 100% flat. Well done gang
Waiting for bear gartley as trend continuation)
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Akil_Stokes PRO Alexander_Nikitin
That's a sweet level to get involved at
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I was only bearish opn this pair, so I took smaller cypher right after you have closed your position))
snapshot
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It's actually 3 Patterns now

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Thanks for the share. However that 3rd one that you added isn't any kind of pattern that i would trade.
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JoMarshall Akil_Stokes
It's a gartley but of course your gartley rules are different from mine.
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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).
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The bat pattern becomes invalid once a 61.8 fibonacci retracement is hit
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Nice Analysis Akil, i just have one question. IF the bullish bat pattern is triggered first, will that invalidate our bearish gartley pattern?
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Not necessarily, it all depends on how far that D completion pushes
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Stop ? if any :)
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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
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Nice post Akil, always active now in this trade :)
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Akil_Stokes PRO StarProsper
Thanks, where have you been buddy hanging out in the London Live Room?
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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
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Akil_Stokes PRO faisalhasnoon
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
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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 :)
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Akil_Stokes PRO faisalhasnoon
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
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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
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Akil_Stokes PRO faisalhasnoon
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 ;-)
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Thanks Sir.
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Akil_Stokes PRO jameschan.au
No problem
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FawadJawed Akil_Stokes
Hi Akil why you closed the trade so early doesn't it look going much more than this ?
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I closed the trade because price action has reached our 1st target price point
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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
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There is also looks to be a cypher nearing completion too
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dangap dangap
Cypher entry has been triggered
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I'm not seeing any cypher but good luck man, hopefully you can make some back-to-back pippage on this one
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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
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I have no clue what the people are going to do. I just trade what I see on the charts
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HMM GUD IDEA
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Akil_Stokes PRO balochali235
Thanks
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Akil_Stokes PRO balochali235
did you mean to share a chart of the Cable?
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snapshot


We have this to look for in the coming hours/days
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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.
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I completely agree with that, unless your using structure d not doing so is an incorrect way to use the Fibonacci tools
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weiwei Akil_Stokes
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?
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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
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JC_Saints Akil_Stokes
do u trade type II Akil or only Type I ?
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I adjust targets with current price action
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JC_Saints Akil_Stokes
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.
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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
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JC_Saints Akil_Stokes
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.
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Glad I could answer your question. have a good one.
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gj weekly..

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