Akil_Stokes
Short

GBPJPY: Advanced Bat Formation Near Completion

FX:GBPJPY   British Pound/Japanese Yen
Potential Bearish Bat Formation near completion on the GBPJPY             with a "D" completion at 157.18


Akil Stokes
Chief Currency Analyst & Head Trading Coach
http://www.TradeEmpowered.com -The Premier Online Trading Education Company


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Trade closed: stop reached: Wow, didn't expect to come home to this
Very close to getting this, only issue is, it has the potential to rally quite a lot, time to keep SL close :)
+1 Reply
Akil_Stokes PRO lukelehepuu
That potential is always there, don;t let it scare you away from following your plan
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Nice one Akil.There are Bats forming on USDJPY and EURJPY also :)
+1 Reply
Yup, not the usdjpy for me, but i've gt my eyes on a few different formations over on EURJPY
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Oh those JPY pairs...always moving alike
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technicaly speakingg it B ppoint closed above 0.5 retracement ..... so invalidates bat pattern ... must close below .5
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Akil_Stokes PRO kaushik.dana
Different traders have different rules for these advanced pattern formations
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kaushik.dana Akil_Stokes
well .. what is the range for bat patterns you follow ... can u pls give the ratios in the message box .. or paste some link of videos related to bats
+1 Reply
Akil_Stokes PRO kaushik.dana
As long as the B point does not hit a 61.8 (making it a gartley) then it's valid for me
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i was yesterday on this pair holding a long position and end with good profit, i dont think jpy sentiment will switch that fast especially on asian session traders yesterday decide to bet against it, i really like ur style (sentiment trading with harmonic technical), good set up and good luck, really good work from you and jason :)
+1 Reply
Thanks you Reynolds
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Mr Stokes the way i traded this yesterday i am sure you would have been disappointed. i was short, i took profit early just before it went bullish...
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Yes I would have been disappointed. In the short-term that's a great move since in earned you some money and saved you from a loss, but unfortunately the longer term effects may be more impactful
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Watch out for bullish Wolfe Wave;;;;
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http://invst.ly/1qgsp
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Hi Akil

Had the same trade on.
Are advanced patterns (gartley,cypher,bat) more effective when your 'AtoD' or 'CtoD' move is also a 3 drives pattern or ab:cd pattern? Any thoughts on this?
+1 Reply
I've never tested that so I don't know
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