Akil_Stokes
Long

GBPJPY: 1 Hour Bullish Cypher Formation

FX:GBPJPY   British Pound/Japanese Yen
8 months ago
Bullish Cypher Formation on the GBPJPY             Hourly Chart
8 months ago
Trade active: Long @ 159.85
8 months ago
Trade closed: target reached: So glad that were we able to watch this one live this morning in the live trading room. A very teachable moment for many of our traders on discipline. I'll see if I can share it on youtube when I return later this weekend. GREAT TRADE GANG! Really tested us
Akil Stokes -Head FOREX Trading Coach at Trade Empowered
Check Out Our Free Training https://goo.gl/5e8Jcr
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"Plan Your Trade, Trade Your Plan"




Miz
8 months ago
I also agree with this one Akil. Thank you for your analysis, very good reassurance haha
+1 Reply
Akil_Stokes TOP Miz
8 months ago
Thanks Miz
+1 Reply
AviMizrahi Akil_Stokes
8 months ago
Akil what's the rule for ciphers ?
Because I think "C" leg close above 141.4 .
+2 Reply
ErnestasKvedaras AviMizrahi
8 months ago
It can touch it, but cannot close above
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ErnestasKvedaras ErnestasKvedaras
8 months ago
Just checked, it did not even touched 1.41
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Akil_Stokes TOP ErnestasKvedaras
8 months ago
Make sure you're drawing your pattern formation out using the fibonacci extension tool and not the "pattern drawing tool"
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Akil_Stokes TOP ErnestasKvedaras
8 months ago
Or if you're going to use one of the patern drawing tools, make sure that you use the tool specific for the "Cypher pattern"
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Akil_Stokes TOP AviMizrahi
8 months ago
Make sure you're drawing your pattern formation out using the fibonacci extension tool and not the "pattern drawing tool"
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Akil_Stokes TOP AviMizrahi
8 months ago
Or if you're going to use one of the patern drawing tools, make sure that you use the tool specific for the "Cypher pattern"
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Akil_Stokes TOP AviMizrahi
8 months ago
Please see the comments that I left below
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adilnaqvi00786
8 months ago
Totally agreed with u
+1 Reply
Akil_Stokes TOP adilnaqvi00786
8 months ago
Awesome!
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bharrison0605
8 months ago
Hi Akil,

Where do you think this long position will go up to? 162.5+?
+1 Reply
Akil_Stokes TOP bharrison0605
8 months ago
I'll be looking for at least a 38.2
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stockerz Akil_Stokes
8 months ago
whats the 38.2?
+1 Reply
Akil_Stokes TOP stockerz
8 months ago
It's a Fibonacci ratio
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GalShafat PRO
8 months ago
159.17 SL is good ?
+1 Reply
Akil_Stokes TOP GalShafat
8 months ago
I wouldn't deviate from your normal rules for placing stops
+1 Reply
Akil_Stokes TOP GalShafat
8 months ago
In my opinion you always want to take the even handle into account if you can take on the amount of risk
+2 Reply
Hamrall
8 months ago
Waited for 100 pips to stop and filled. Great risk/reward on this one!
+1 Reply
Akil_Stokes TOP Hamrall
8 months ago
right with you on that
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Trading_an_Edge
8 months ago
Looking at the very bearish price action, I would say that this would be a Shark pattern and not a Cypher (but clearly I could be wrong), so I will looking to buy around 159.10 -159.00, good trading ;)
+2 Reply
Akil_Stokes TOP Trading_an_Edge
8 months ago
We can't control the market so we never know until it happens. All we can do is consistently execute the trading plan.
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ErikCZ
8 months ago
ok :-)
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abbasial
8 months ago
nice Setup, thanks Akil
+1 Reply
Akil_Stokes TOP abbasial
8 months ago
thanks
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SaeedRehman Akil_Stokes
8 months ago
Hi Is this trade still valid??
+1 Reply
Akil_Stokes TOP SaeedRehman
8 months ago
Yes
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AbdullahArslan
8 months ago
hi Akil
You are a smart guy as your name.
you know Akil means who is clever, smart and intelligent. :)
thanks
+1 Reply
Akil_Stokes TOP AbdullahArslan
8 months ago
thanks, and yes Akil Lateef (Intelligent & Honest) i don't think Stoke means anything however
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AbdullahArslan Akil_Stokes
8 months ago
I think Stoke means making fire bigger/higher anyway :D
+1 Reply
Akil_Stokes TOP AbdullahArslan
8 months ago
interesting
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Loii
8 months ago
61% retrace from CD is usually what cypher traders aim for right?
+1 Reply
Akil_Stokes TOP Loii
8 months ago
It depends on there rules, but many will shoot for that level for secondary targets
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Loii Akil_Stokes
8 months ago
thanks mate. btw ur a legend on tradingview! good track record. i been following ur trade ideas for a while now!
+1 Reply
Akil_Stokes TOP Loii
8 months ago
Thanks, I wouldn't say a legend, but I'm glad that other traders have been able to learn from my shared ideas.
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TarikCampbell
8 months ago
I really think Akil that you're on the right track with this one. I'm seeing this one being bullish as well!
+1 Reply
Akil_Stokes TOP TarikCampbell
8 months ago
Thanks Tarik, it'd be great if the market goes in our direction
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TarikCampbell Akil_Stokes
8 months ago
Yes indeed
+1 Reply
scottFOREX PRO
8 months ago
do you take your 382 targets on the retracement of your entry or were the market reverses?
so if the price action moved beyond your entry you would move the fib retracement ?
+1 Reply
Akil_Stokes TOP scottFOREX
8 months ago
I take it from the end of the D leg
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SvyatoslavH Akil_Stokes
8 months ago
Doesn't that make your R/R much worse, since you have decided on the entry and stop loss placement before the pattern has completed?
+1 Reply
Akil_Stokes TOP SvyatoslavH
8 months ago
Yes
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piletji
8 months ago
Akil i've been secretly following you, you made me fall deeply in love with advanced patterns, i took some time to learn and understand them, they have simple rules that are easy to understand. Now i'm trading them, another strategy added to my strategy bag.

Thanks maid God richly bless you
+1 Reply
Akil_Stokes TOP piletji
8 months ago
That's awesome man, and great to hear!
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mwatson
8 months ago
Akil, why do trading strategies tend to fade out or die out over time?
+1 Reply
Akil_Stokes TOP mwatson
8 months ago
I don't believe they do, aside from maybe algo's
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Cfsqbwn.
8 months ago
Akil your target is 38,2 from CD points???
+1 Reply
Akil_Stokes TOP Cfsqbwn.
8 months ago
That's what i'll be looking for
+1 Reply
Eduardo_Zamora
8 months ago
Agree also. Thanks for the knowledge.
+1 Reply
Akil_Stokes TOP Eduardo_Zamora
8 months ago
Thanks Eduardo
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thejohn74 PRO
8 months ago
IMO,This is risky trade. The momentum is down strongly on the hourly and may be the end of the pullback on the larger TF. I think the most likely event will be a small bounce to about 160.75 and then another leg down on the 4h to test the February low.
+1 Reply
CROforce thejohn74
8 months ago
All trades are risky... but if you follow your plan and your plan agrees with this setup, then I would take this trade every day regardless of result of this particular one.
+1 Reply
Akil_Stokes TOP CROforce
8 months ago
Couldn't have said it better myself
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Akil_Stokes TOP thejohn74
8 months ago
Thanks for sharing your opinion. And I agree this trade is risky, but so are all trades.
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kmurphy002 PRO
8 months ago
I'm getting 1.612 on the C leg extention. For a valid Cypher pattern, are we not suppose to go beyond the 1.414?
Thanks
+1 Reply
Akil_Stokes TOP kmurphy002
8 months ago
Cypher formations are allowed to extend beyond the 1.414
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CROforce
8 months ago
I took this trade and also Gartley on USDCAD 60min chart earlier today. Will see what Market will do to us :-)
+1 Reply
Akil_Stokes TOP CROforce
8 months ago
Best of luck in both trades!!
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CROforce Akil_Stokes
8 months ago
Thank you
+1 Reply
g2x3k
8 months ago
long long at 159.49 on sep future .. see how long this can run
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Akil_Stokes TOP g2x3k
8 months ago
Hopefully it runs in our favor
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Vamonosky305
8 months ago
Yes, I think you're Intelligent & Honest. About the fire...not sure. I'm confused, my C leg is extended at 1.618 and closing above 1.414. I thought Cyphers need to close below 1.414.

Thank you Master.
+1 Reply
Akil_Stokes TOP Vamonosky305
8 months ago
I think your drawing your fibs wrong as the C leg barely touches the 1.272. My assumption is that you're using the "pattern tool" and not the fibonacci extension tool
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kmurphy002 PRO Akil_Stokes
8 months ago
I had a similar question above, Akil, should we alway draw the fibs with the extention tool and not the "pattern tool" to get an accurate read? Also when you draw your fibs, do you go from wick to wick?
thanks again!
+1 Reply
Akil_Stokes TOP kmurphy002
8 months ago
yes and yes, the fine people here at tradingview actually created a tool specifically for Cypher formations as well if you want to keep using those type of tools.
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Vamonosky305 Vamonosky305
8 months ago
OOOOOH!...You're right......Again!
Thanks!
+1 Reply
Akil_Stokes TOP Vamonosky305
8 months ago
not right yet, we still have plenty of room to go
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AlbertoSolano
8 months ago
Right now it looks like is going to continue the down trend, don't you think so??
+1 Reply
Akil_Stokes TOP AlbertoSolano
8 months ago
Longer term yes, i still think we're in a bearish trend based off of the daily
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vintv
8 months ago
Hi Akil, the D point has stretched to beyond 88.6 of XC, so is this cypher still valid?
+1 Reply
SvyatoslavH vintv
8 months ago
You wouldn't have known that, had you entered at the 78.6. As long as your stop based on your knowledge at the time of entry wasn't triggered, I'd say it is valid. Otherwise, you would have to close your position before it reaches your stop. And you don't do that, right?
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Akil_Stokes TOP vintv
8 months ago
Yes
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SaeedRehman
8 months ago
I just drool when there is an advance pattern forming. - Thanks Akil

I have a question which will benefit myself and may help others. If I am trading 1 lot or 1 point as my stake, do I close my trade out on my first target, as I am unable to take half off? What other signs do I look for to see if the price is going to continue to the second target
+1 Reply
SvyatoslavH SaeedRehman
8 months ago
If you want to do it consistently - yes, you close at the first target. Also you should do some backtesting, which you obviously have not. Otherwise you would have known that relying solely on the second target is a losing strategy.
+1 Reply
Akil_Stokes TOP SaeedRehman
8 months ago
That decision is completely up to you. I would do whatever your backtesting data showed you was most profitable
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SaeedRehman
8 months ago
Thank you for your comment - Yes you are right no back testing done. I am learning the basics - structure/ formation and once I feel comfortable, will look for a strategy - Hopefully once I have enough spare money I would be inclined to go for Trade Empowerment training course with Akil or Jason and that will be my strategy as it has already been back tested.

I would've gone for first target, due to low minimal stake, just wanted to know what a Pro would do in that situation. Both you and Akil are right, what ever your plan tells you & strategy

Thanks Akil
+1 Reply
Akil_Stokes TOP SaeedRehman
8 months ago
There are different ways to handle the situation and it will all depend on the trades appetite for risk. There are pro's & cons to everything. For example, in the past while day trading I consistently used the "traditional" 2nd targets as my first targets. It was more profitable that way but it also meant having a lower win percentage. Now it would seem that the right decision would be to take what provides you with the most profit, but psychology does play a key role and more losses will often lead to more mistakes which would sabotage the system
+1 Reply
Trading_an_Edge
8 months ago
Expecting prices to reach the 159.00 before going long on a price reaction (using Elliott waves & Harmonic patterns)
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Trading_an_Edge
8 months ago
Harmonic trading & Elliott waves on GBP/JPY 1H
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Miz
8 months ago
possible update on this Akil please? :)
+1 Reply
Akil_Stokes TOP Miz
8 months ago
What would you like an update on?
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TarikCampbell
8 months ago
Tested my patience is an understatement!
+1 Reply
Akil_Stokes TOP TarikCampbell
8 months ago
Yeah, you'll see when i post the video, but I told my live room members that my heart was beating 100 miles per hour. It's okay to have emotions, that's part of being humans, we just can't act on them
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Where did you have your SL "Exact price" on this trade Akil? Was it a 2 ATR SL or 1?
+1 Reply
Akil_Stokes TOP Mathias-HarmonicTrader-Sweden
8 months ago
158.93
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SvyatoslavH Akil_Stokes
8 months ago
Assuming that you have entered at the 78.6 (159.937), you must have had a R/R of 0.42 to the first target at that point. Am I missing something?
+1 Reply
Akil_Stokes TOP SvyatoslavH
8 months ago
I did not enter at the 78.6 due to that exact reasoning. Well not so much risk reward (cyphers will often be inverse), but amount of risk
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Mathias-HarmonicTrader-Sweden PRO Akil_Stokes
8 months ago
On which candle did you enter and was the SL based on 2 ATR or 1? :)
+1 Reply
Akil_Stokes TOP Mathias-HarmonicTrader-Sweden
8 months ago
Stops were based off of the even handled number 159.00
+1 Reply
Akil_Stokes TOP Mathias-HarmonicTrader-Sweden
8 months ago
I entered at 159.88's because the original entry offered a stop/loss that was beyond my limit (100pips)
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SvyatoslavH Akil_Stokes
8 months ago
That is still a 0.47 R/R to the first target of 38.2, if you enter at 159.88 and stop at 158.93. Wow, you must have some insane success rate, if you are profitable in the long run and regularly take trades with such a R/R!
+1 Reply
Akil_Stokes TOP SvyatoslavH
8 months ago
The cypher formation is the only trade that I will take that doesn't provide at least an initial 1:1 risk/reward, because of it's high success rate.
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siro
8 months ago
thank you dear akil a great one
+1 Reply
Akil_Stokes TOP siro
8 months ago
You're welcome
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Kjell PRO
8 months ago
HI Akil, is this pair qualifying a HS in D chart, if breaking the neck line?
+1 Reply
Akil_Stokes TOP Kjell
8 months ago
I'm sorry but I haven't ;looked at it on the daily
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siro
8 months ago
whats your idea about USD/CAD dear brother?
+1 Reply
Akil_Stokes TOP siro
8 months ago
I'm done looking at charts for the week so I don't have any. Sorry
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siro
8 months ago
i think its a good appourtioninty its near teh oversold area on daily
+1 Reply
Akil_Stokes TOP siro
8 months ago
If it meets the rules that are in your plan, I say go for it. Certainly not a bad level to look for buying opportunities
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siro
8 months ago
thank you dear brother
+1 Reply
Akil_Stokes TOP siro
8 months ago
no problem, best of luck if you decide to take it
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siro
8 months ago
i will take it thank you again with the besh whishing for your trades
+1 Reply
Akil_Stokes TOP siro
8 months ago
Thank you
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CROforce
8 months ago
I took loss on this one by a few ticks... But that's OK. it was still a good trade :-)
+1 Reply
CROforce CROforce
8 months ago
I did however profit on my other Gartley trade on USDCAD
+1 Reply
Akil_Stokes TOP CROforce
8 months ago
Well done
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Akil_Stokes TOP CROforce
8 months ago
Great mentality
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CROforce Akil_Stokes
8 months ago
thank you :-)
Reply
marcus123
8 months ago
great trade!
Reply
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