GBPJPY: Potential Bearish Bat Pattern

FX:GBPJPY   British Pound / Japanese Yen
Potential Bearish bat Pattern on the GBPJPY             . It's a bigger trade so make sure that it meets you risk profile before firing off your orders. For those of you who have been with me for the past few months this will be a great example of what we've been talking about moving entries to match the risk.

I had a great time in the Live Room yesterday. Thanks to everyone who decided to attend the Free Week. Look forward to another excellent day today. See you in a few hours.

Akil Stokes
Chief Currency Analyst & Trading Coach

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Nice one! This trade played out faster than anticipated. 320 pips welcomed to the pip family!

We might have a cypher on the run aswell. Altho, Im currenly not trading cypher, only them Bat Gartleys

awesome akil!
Nice 1st target hit
+1 Reply
Found a pretty nice setup TC on USDJPY.
If the price chart goes over point X of your pattern, will the pattern then me invalid?(trade for a 386 retracment of the C/D leg)
+1 Reply
Akil_Stokes KennethKvistad
+1 Reply
Hi Akil,

Are going to trade this one or you stand sideways because of the GBP interest rate discussion today?
+1 Reply
I'm not in the trade yet, I need it to reach a higher level to be within my risk profile. If you can the safest move is to stay out as there should be a lot a volatility but obviously if you're in the trade already then you just have to stick with your position. With this being a longer term trade, I would hope that the trader was aware of today's events and the possibility that they would probably still be involved by the time it's released.
Jimz0r Akil_Stokes
Thank you for your advise.

How have you backtested this. To know your RR on this kind of big traders and what kind of signals are you waiting on to get involed with this one. dubbeltop / doji's ?
the reason why you're not involved yet is it a combination of the news today and the RR? Because you told me once every pattern you see. You have to trade it no matter what.
+1 Reply
This is not a news event I'd be comfortable trading through regardless but 100pips is my ceiling for stop/loss just based off of where I want to keep my average risk. In the past anything over 100 I'd leave alone, but now I can actually adjust entries, assuming everything stays valid
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