Akil_Stokes
Short

GBPUSD: Bear Cypher Forming a Potential Bull Bat

FX:GBPUSD   British Pound/U.S. Dollar
After a pain free win on yesterday's bearish Cypher formation (you need those sometimes), price action is now making it's way back down to the Cypher lows, which if you bump out to a higher timeframe also represents the "B" leg of a potential bullish advanced bat formation .

Once my day trading day begins (at 8am NY) I'll be eyeing this level for potential long opportunities on the lower time frames (LTFs), but from a swing trading perspective the potential Bull Bat is the next trading idea on my radar.

Very busy day yesterday as we saw 4 advanced pattern formations fill. Fortunately 3 of them were able to achieve targets with the remaining trade on the EURJPY             coming very close. Either way what matters most is that they were all "Good Trades" and remember that's the goal if you want to see long term consistency with your trading.

Good luck out there today traders and let's make some good trades!

Akil
Trade active: Filled at 1.3104
Trade closed: stop reached: Not the way I wanted to end the week. Figured it was due, just stinks that this was a max loss type trade
Very Nice! Tnanks, Master Akil! =)
+1 Reply
You're welcome
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Hi Akil!

Thanks for sharing. But what about this idea? Do you think it could happen?

GBP/USD Bearish Bat Pattern
+1 Reply
You're welcome and yes That can certainly happen
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Appreciate.many thanks for sharing Akil.
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Akil_Stokes PRO ChandanaHerath
No problem. Thanks for the support
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hi Akil,
thanks for sharing,the bullish bat BC leg didn't hit 618 AC do you think it's still valid pattern?
thanks
+2 Reply
It's valid for me yes, but please refer to your rules in order to see if it's something that you can involve yourself in
+1 Reply
Do you think a sell is still valid at this point?
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the bat formation that's on the chart is a bullish pattern formation
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Thanks for the share Akil, this one is on my watchlist as well..!!!
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Awesome!
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Equal Lows will get taken out below your point X...Stop losses are there
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Thanks for the comment
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thanks!
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you're welcome
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I was going to publish about the bat, but you did already. It just got to the PRZ.
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Akil_Stokes PRO purpurato59
Feel free to publish. I'm sure there are many other who published this same idea as well
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I'm live...first trade idea I have followed from you Akil, fingers crossed!
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Hopefully this trade is something that meets the rule sof your trading plan and that you didn't just take it to follow me.
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What made you choose your entry level of 1.3104 instead of previous resistance levels around 1.30600 ?
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judgecannon judgecannon
Apologies, I meant previous 'support' *brainfart*
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Akil_Stokes PRO judgecannon
No worries, i understood what you meant, and I do it all of the time
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Akil_Stokes PRO judgecannon
For advanced pattern formations I enter at the "D" completion price point
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Hi Anil! I love your harmonic trades!! I would like to ask you a question. How must a potential harmonic pattern be traded? At example, can someone trade a D - E move ( Bearish ) ? If yes, how? Or it is not possibile and the only way to trade harmonic patterns is to long / short at the final point? Thanks ( I am learning harmonic patterns )
+1 Reply
Akil_Stokes PRO NikitaBykovets
It's "Akil"
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Akil_Stokes PRO NikitaBykovets
Patterns in my opinion should be taken at the "D" completion point, correct
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Awesome, Akil! Thanks for sharing. I Found this a couple days ago as well, it met my rules, so I'm glad it filled today... Just recently joined tradingview and excited to eventually share and see what's going on. Seems like a solid community here.
+1 Reply
Akil_Stokes PRO We_The_North
Nice, and like any public forum, there's plenty of good and bad. Take my advice, if you get a negative comment or somebody attacking you, the best thing you can do is respond politely
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We_The_North Akil_Stokes
Will do. Thanks
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Another setup

snapshot
+4 Reply
Thanks for the share!
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habibzafari14 JFXtrader
Nice idea.
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Can you give us another your potential reversal price please?
+1 Reply
Sure, I try to make a habit to post at least one idea a week here on tradingview, so assuming the markets provide us with opportunity I'm sure I'll have a share.
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Hard luck Akil! keep it up man! it's Friday! A new week and new great trades around the corner!

You are doing a great job!
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Thanks, yeah not the way i wanted to end my Friday, but the good thing about Friday's is that it's the closest time between the end of a week and the start of the new one.
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It's okay Akil...you are as good as your next trade! aaaaandd if you look left...there's a massive bull cypher (x leg @ 1.2865 with a d completion @ 1.29827 almost at market)...I ended the week at break even so I'm not to upset. Plan your trade, trade your plan. It's definitely been a journey for me in my rookie year. I am a more disciplined and patient trader thanks to you, Charles, and the TE team. Hoping to be a 12WT member and some future point. Back at it again next week!
+1 Reply
Thank you! I had a very similar week as you. Time to reload and find some more good trades this week. GREAT to hear that you're making progress in your trading. It can be a slow process sometimes but anything good in life is worth waiting for.
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I think based on wave analysis it should reverse very soon and jump up from around 1.29000. What do you think? When it will come back up or???
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Akil_Stokes PRO habibzafari14
I'm sorry but i'm not a wave trader so I'm unable to answer your question
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yea.. thank you mr. hammond....
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Mr. Hammond?
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Jimdandy Akil_Stokes
Yea.. it was his gum flappin that made the Pound take a dive.. stupid news... http://www.forexfactory.com/news.php?do=news&id=607288
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Gotcha, thanks
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Jimdandy Akil_Stokes
Actually what was stupid is that he never said what the headline said he said.. so it really WAS stupid news reporting...
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Shameful, thanks for the link too
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you are human after all even the best lose trades thanks for sharing Akil learning a lot from you
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Thanks, and you're correct, the best lose and lose a lot. If I were to let losses bother me, I'd be out this game a long time ago. Looking back in time i'm just upset that it took me so long to realize how unimportant a high winning percentage is in the bigger scheme of things.
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Good trading akil thanks for sharing
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Akil_Stokes PRO GrantShuttleworth
Thank you grant
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better luck next time, I see you trust your cyphers a lot
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Akil_Stokes PRO Bull_Trader123
Thanks, and yes, while not my favorite advanced pattern formation to trade, it's certainly been a pleasure to have them in the arsenal.
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