Akil_Stokes
Short

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
http://www.TradeEmpowered.com

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Bat pattern with potential ab=cd

Also have bearish divergence as well as an ab=cd completion in the area. Really good find akil
+3 Reply
Thanks, good find as well
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Same pattern,same view.
We have a few weeks left before markets will quiet down towards the New Year,like you sad,so I wish for us to earn some pips before that happens:)
GL!
+1 Reply
Akil_Stokes PRO Don_Corleone
Thanks, best of luck to you as well
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A little bit out of topic, sorry for that but your social media link for FB looks akward ;)

Wish you best luck with this trade, looks like a very nice plan - even tho I dont feel good about patterns (scares me :D).
+1 Reply
Akil_Stokes PRO Grzegorz_Szafranski
Yeah I forgot that whenever it see's a name that is also a stock in will convert it to the ticker. I was too late to catch and edit it, but I guess I can't share the FB link anymore
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Well you can but as long as TV will not fix the url inserting you would have to do small trick.
Like for example instead of inserting www. facebook. blablabla.... inserting the shortcut of url

What I mean is you would need to generate short url (for example here https://goo.gl/ or in any service you prefer) and paste it instead of fb link with description that this shortlink is redirection to your fb profile... well its workaround but its still better to have possibility to reach ppl on fb instead of giving up :) like in fx, never give up
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Akil_Stokes PRO Grzegorz_Szafranski
Thanks, and yes, I advise to never trade any system that you don't have a 100% belief in. I've been there plenty of times and eventually ti always ends poorly.
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morshedul.sazid morshedul.sazid
Lets make some money! ;)
+1 Reply
Akil_Stokes PRO morshedul.sazid
Money making would be a good thing. i'd be down for that
+2 Reply
Ttsounis Akil_Stokes
Hi Akil,

Can you confirm the entry point for the completion of the D leg, I have it at 187.41 which doesnt appear to have been hit yet.

Thanks
Troy
+1 Reply
187.41 sounds right to me
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Forgive my ignorance, but is target #1 for a bat pattern same as a gartley (382 retracement)? And I've noticed in the last few videos that the stop loss for these patterns isn't a standard 10 or 15 pips like with the case of 2618 trades, is it always based off structure and the "psychological" levels?
+2 Reply
Correct, same targets as Gartley & no i don't use any standard pip numbers for any of my stop losses
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Balazs Akil_Stokes
Thank you!
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Hi already in since yesterday
snapshot
+1 Reply
Cool
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EdKunky Krylat
Risky....wishing you good luck....the BEAST can bite hard
+1 Reply
Thanks, I'm not involved yet, but depending on what happens in today's news it could be a interesting ride
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I see the potential for some resistance around 187.82, but can you really rule out a move to higher ground? Perhaps 190 zone. Take care. No position.
+1 Reply
Nope, we can't rule out a move up, we can't rule out a move down. All we can do is consistently execute the trades that are in our trading plan and allow the probabilities to play out
+3 Reply
arco Akil_Stokes
...........spoken like a politician :-).......I decided to take a small long position in view of my comment
+1 Reply
Nice!
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Well, there is tons of data on GBP to be released today, so I guess, that will spice things up. Still not sure about the SL though...
+1 Reply
Akil_Stokes PRO sketchmaster
Before every trade we want to know 3 things. Entries, Stops, & Targets. If you don't know exactly where each should be at then it's better to play the sideline and observe
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Akil_Stokes PRO sketchmaster
I say that because if we're unsure then it increases the chance of us making mistakes like "moving stops back" due to fear
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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.
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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 ?
Or
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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Hi..
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 PRO KennethKvistad
Yes
+1 Reply
Found a pretty nice setup TC on USDJPY.
TC on USDJPY using Cypher Pattern for Entry
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Nice 1st target hit
+1 Reply
awesome akil!
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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

snapshot
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