Akil_Stokes
Long

GBPUSD: Bullish Bat Pattern After Inflation Report

FX:GBPUSD   British Pound/U.S. Dollar
a year ago
Hey traders we just had the inflation & interest rate news come out for the GBP pairs and the reaction is sending price action down to a potential advanced pattern completing at 1.5269's. i like to give 15 minutes for news to play itself out and afterwards I'm allowed to continue my trading

Also as a reminder tomorrow is also a big news day as we have the month Non Farms Payroll release, so make sure you refer to your trading plan on how you handle these types of events. Word of advice, if you don't have a plan, you probably shouldn't be trading this...or anything else until you develop one.

Have you seen my latest video?
"The Pros & Cons of Money management Strategies
https://www.youtube.com/watch?v=jSFYOLLYM60

Akil
Chief Currency Analyst & Trading Coach
www.TradeEmpowered.com

a year ago
Trade active: fille dlong
a year ago
Trade active: Filled Long
a year ago
Trade closed: stop reached
a year ago
Comment: Just a reminder I have my Live Q&A, today, so if you have questions about this trade you can certainly ask them there. https://www.youtube.com/watch?v=hEIVEXhsx94
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"




Balazs
a year ago
Does this pattern make the previous invalid?
https://www.tradingview.com/chart/aNRxozTR/
Reply
Akil_Stokes TOP Balazs
a year ago
no
Reply
germanbel
a year ago
Think GBPUSD breaking S3 (1,5260) will drive price below S5 (1,5160). Heiken Ashi in 4hs TF favours still the downside. Just my opinion. Anyway I closed my short at 1,5280 in the recent dip.
+2 Reply
Akil_Stokes TOP germanbel
a year ago
Nice!
Reply
Jimz0r
a year ago
Hi Akil,

Just closed my second position for TP 2 at the entry of that bat completion.
Normally the TP 2 was at price level: 1.5450.
At 7am i moved my TP at the entry of that bat pattern. and my stoploss at previous resistance.

It turned in to 180 pips extra. Do you call this smart trading or rule breaking?

Now long for that bat pattern.

snapshot


+3 Reply
Akil_Stokes TOP Jimz0r
a year ago
well done
Reply
Hello, Thanks for the analysis. wondering where is your stop loss?
+1 Reply
Akil_Stokes TOP colinsheen
a year ago
below the 52 even handle
Reply
IgnAryaBawanta
a year ago
i think i'll will going down
+1 Reply
Nice video as always,Akil! Thank. Found a nice TC setup on USDJPY
TC on USDJPY using Cypher Pattern for Entry
+1 Reply
Akil_Stokes TOP Felix_Hoevelborn
a year ago
Nice, we covered that exact same trade this morning. Good eye
Reply
KennethKvistad
a year ago
Why diid we put stops at 52 even, when pattern is only valid to x point ?
Just curious?
+1 Reply
Akil_Stokes TOP KennethKvistad
a year ago
I (not we) put stops below 1.52 because that's what my rules said to do. Yes the pattern is invalid once the "X" leg is broken, some like to give the market some breathing room beneath "X" others don't. As long as you're consistent in your approach
Reply
reignjuste
a year ago
lol you are very smart
/sarcasm
+1 Reply
Akil_Stokes TOP reignjuste
a year ago
Thank you for sharing your opinion, your comment did a great job of aiding the conversation about this trade.
+2 Reply
reignjuste Akil_Stokes
a year ago
As i said yesterday
Today you see the results.
Dont play pro when you are noob
+1 Reply
Axel reignjuste
a year ago
its not of being right or wrong when you have something what is lets say 40% over a series of trades accurate and your Reward/Risk Profile is always 2:1
go to the casino roulette wheel and bet always 1 dollar at red or black does not matter you will see you loose money the longer you play because the odds are against you 48.6% 1:1 R/R
Reply
reignjuste Axel
a year ago
True
But thinking buying the gbp at this time is lack of knowledge both technically and fundamentally
Reply
Axel reignjuste
a year ago
once you have an edge by a technical method there is absolutley!!!! nothing to think about and it makes since to ignore fundamentals completle
maybe you do testing including fundamentals what is almost impossible
+1 Reply
Akil_Stokes TOP Axel
a year ago
Axel, don't waste energy with these types of comments, all it's going to do is take time away from your focus.
+2 Reply
reignjuste
a year ago
hello 1.49
Reply
Axel
a year ago
great setup keep going
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Axel Axel
a year ago
still a good chance for a reversal even handle and str looking left :) and a move without a retracement see if this holds
Reply
akhostov PRO
a year ago
nice! I had a similar idea from about 4 days ago (although a wider bat pattern). Hasn't reached my pattern completion but am patiently waiting. I do define the bat pattern a bit differently, which would be invalid relative to your rule sets (or may be defined as a gartley).
Trade Structure Down to Bullish Bat Pattern Completion
+1 Reply
EdKunky
a year ago
Catching a falling knife needs nerves of steel. I would be waiting for more confirmation, but thats just me awaiting some market structure
+1 Reply
reignjuste EdKunky
a year ago
I does not require nerves of steel it requires stipidity brother
Reply
santoroma
a year ago
please be careful, money is money. people be careful with this trade and trader
+1 Reply
Akil_Stokes TOP santoroma
a year ago
I would hope that traders are not blindly following anybody on this site, especially me.
+1 Reply
It's common to have good trades and bad trades. Having good trades does not make you a good trader. Having bad trades does not make you a bad trader either. Everyone should take responsibilities for their own trades, no matter it's their own analysis or from other's ideas. Akil thanks for your generous sharing.
+2 Reply
santoroma colinsheen
a year ago
it's right you are saying
Reply
Akil_Stokes TOP colinsheen
a year ago
Your welcome, and thanks from the support. If there's one thing I've learned over the years from social sites like this, is that you can win 99 out of 100 trades, but there will always be somebody ready to tear you apart over that one. usually that person is blindly following a trader looking for a quick buck and when it doesn't go their way, well somebody has to take the blame.
+5 Reply
Tordecilla Akil_Stokes
a year ago
Yeap, always the case Akil.
+2 Reply
Akil_Stokes TOP Tordecilla
a year ago
Unfortunate yet true, Hey that's life for you though. Best of luck today Tordecilla
Reply
Grzegorz_Szafranski Akil_Stokes
a year ago
However I still cannot believe (and I face this kind of situation not first time) that people instead of cooperate and work together so both sides have profits, tends to blame and throw sh*t on others like monkeys... so much hate, its hard to be a new trader in this industry :)
+1 Reply
Akil_Stokes TOP Grzegorz_Szafranski
a year ago
Add to that the handful of scams that exist, it's extremely difficult to get started in the right direction
+1 Reply
joni.rcunha Akil_Stokes
a year ago
Hey Akil, it's the price of fame and you have to deal with. The most important thing is that you have so many people that believes in your work and look to you as a mentor. And "Nothing else matters..."
+2 Reply
Akil_Stokes TOP joni.rcunha
a year ago
Exactly, thanks Joni. Always allow the positives to outweigh the negatives.
+1 Reply
Koryphaeen PRO Akil_Stokes
a year ago
This is basic human psychology, man, don't you recognize it? Frustration combined with lack of assuming responsibility leads to negative sentiments towards much successful persons, like you, and that is how such denigrating comments are born... get used to it, if you are successful in what you doing, if you cannot that's life... :)
+3 Reply
Akil_Stokes TOP Koryphaeen
a year ago
Correct, that's why i don't waste any energy arguing with those folks anymore. just not worth it
+2 Reply
germanbel Akil_Stokes
a year ago
Hi Akil. Go on. What do you think about buying GBPUSD now on S1 (1,5139) and add another buy at S2 (1,5073) with a stop loss reverse at S3 (1,4940) ? Seems S1 is holding and I think there is going to be a spike up targeting SMA 200 on 15 TF. If it fails, breaking down S3 may drive the price to S5 (1,4685). Anyone else with some idea about this pair?. Thanks in advance.
+1 Reply
Akil_Stokes TOP germanbel
a year ago
I haven't looked at any charts today but I know Jason Stapleton had his eyes on it in our warroom meeting this morning. Not sure if that was before or after the NFP though
Reply
colinsheen PRO germanbel
a year ago
GBPUSD Ending Diagonal potentially completed


I just went long this pair. stop loss is around your level at 1.4950
Reply
germanbel colinsheen
a year ago
Thank you for your comment. Already long targeting 1,5270 (today's pivot). At the end of the day will move down the SLReverse to next S3.
Reply
reignjuste colinsheen
a year ago
you will loose money
thank you
Reply
Don_Corleone PRO Akil_Stokes
a year ago
Tha'ts why when someone posts with Caps Lock on something like-"it's not going into your direction!!!" or some other comment which indicates that a person probably bet his account on that one trade=)))-always makes me rofl:)I did not take this bat,cuz I thought counter trading this strong move might not be a good idea+some other reasons,but it was just my own opinion and I would never blame anyone who thinks in the opposite way.I really wish that people would stop posting non constructive comments under someone elses analysis,but that will never happen=))GL and lots of pips to you all:)
+2 Reply
Akil_Stokes TOP Don_Corleone
a year ago
That's the problem with trading forums. Although I still think the character of traders on TV is much better than places I've been in the past
+2 Reply
caifu642
a year ago
Hey Akil. Just a couple of questions.... I see from above it appears that you had two entries - are you entering half positions each time or did you just correct the English of the first? And, do your trading rules account for taking a new position going into a major news event like the non-farms payroll release? I've often heard many will not take trades in stocks right before earnings releases. Too much uncertainty. It is interesting to see that the PA hesitated just above that 1.52 level before crashing down. Looking left seems indicate structure supporting this. Anyway, this looks like it would be a 70 pip loss or so. Not fun, but that's the way it goes sometimes. Keep up the great work here for us that appreciate it and just let the haters hate!
Reply
Akil_Stokes TOP caifu642
a year ago
Hey Caifu, Actually I misspelled "filled" on the first one so I simply typed it in again. With that being said I do break my position up in order to have a both conservative and aggressive target level on certain trades. The Non Farm Payroll is one of the releases that I do not actively trade during, there's just too much whipsaw making the market very unpredictable during the initial "emotional" reaction to the news. For news events as such I'll give a "15 minute" breathing period for the smoke to settle and start looking for opportunities afterwards.
Reply
SubTh3ory
a year ago
I don't know if this is a new thing you're doing here on Trading View or not but I really like that updates that show when the trade is filled and whether it hits your SL or TP. That is super helpful.
+2 Reply
Akil_Stokes TOP SubTh3ory
a year ago
I like it as well, my only problem is remembering to consistently update it. I agree though pretty cool especially for those following the idea to get an idea on the progression of the trade
+2 Reply
Bugdung
a year ago
Pretty new to trading and trading view so not sure where to post this, i follow a lot of your vids akil, think i found a cypher ?
Reply
Bugdung
a year ago
EURUSD CYPHER
+1 Reply
Akil_Stokes TOP Bugdung
a year ago
Hey Bugdung, I don't mind at all if you share charts under my ideas. Feel free
Reply
loukiliy
a year ago
down 120 pips because of this news
Reply
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