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Akil_Stokes
May 16, 2016 6:12 PM

GBPJPY: Advanced Bat Formation Near Completion Short

British Pound/Japanese YenFXCM

Description

Potential Bearish Bat Formation near completion on the GBPJPY with a "D" completion at 157.18


Akil Stokes
Chief Currency Analyst & Head Trading Coach
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
Comments
RBNonit
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?
Akil_Stokes
I've never tested that so I don't know
jevonb
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...
Akil_Stokes
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
Reynolds89
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 :)
Akil_Stokes
Thanks you Reynolds
kaushik.dana
technicaly speakingg it B ppoint closed above 0.5 retracement ..... so invalidates bat pattern ... must close below .5
Akil_Stokes
Different traders have different rules for these advanced pattern formations
kaushik.dana
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
Akil_Stokes
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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