Akil_Stokes
Long

USDJPY 4HR: Another 2618 Example

FX:USDJPY   U.S. Dollar/Japanese Yen
Bigger picture I'm still bearish on USDJPY             predicting that we still see a move down to 106-105.50's level. However In order to get there I do think that we can see some bearish exhaustion at our current level resulting in a pullback into previous structure at 110.50's-11.00.

On the current chart price action has created a double bottom and has followed that up with a retest. We call this setup a 2618 trade which is a more conservative way of entering a counter-trend trade.

(If you're new to the 2618, here's a link to the free training we have on the strategy www.tradeempowered.com)

Akil Stokes
Chief Currency Analyst & Head Trading Coach
http://www.TradeEmpowered.com -The Premier Online Trading Education Company
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Trade closed: target reached: Took some time but 1st targets were finally hit!
So do you recommend us to buy ?
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Akil_Stokes PRO heavenbird92
No, I recommend that you only execute a trade when it has met all of the rules in your trading plan. IF it does THEN yes buy, IF it does not, or IF you do not have rules for this particular setup THEN I would stay out or only approach it in a demo account.
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heavenbird92 Akil_Stokes
Thanks , friend .
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Akil_Stokes PRO heavenbird92
No problem!
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I was on this about 4 am. Stop 107.51 actually had both my take profit zones a little higher than yours.
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Nice! best of luck, hopefully we'll see the move that we want
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I have entered this as a 2618 trade yesterday after Asia open... Will see how it goes :-)
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Awesome, good luck!
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The gap on the open this week gave a much nicer entry than usual. My order got filled at the 78.6% :)
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Well done, looks like we were in the same boat
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Hi Akil, I am puzzled here , really. I follow you and Jason for ages now and know all rules of the famous 2618 trade. Oner rule say that the second bottom may spike below the first bottom but may NOT CLOSE below.

It looks like that on your graph but when looking deeper and more precision on the 60 min graph, this rule is clearly broken unfortunately.

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Even on the 240 min graph.

Why is your graph different than mine with the same Tradingview.com graphics ?


You see , I don't permit to contradict my mentor here, I would not dare. At the max, I'd challenge you once and a while ... ;)
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vduquenne vduquenne
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Hi Akil, I made a HUGE mistake here. ... I watched the EUR/YEN !!!! My bad here, Feelin' confused now. Sorry. Vincent, a Belgian Fibo Fan !
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No problem man, we all make mistakes. I can't tell you the amount of times I've used a sell stop instead of sell limit in the past lol
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vduquenne Akil_Stokes
;) thanks mentor ! You keep me alive ! Especially after hearing ans seeing Jason's last video. Yes, you play a big role , can't say enough : thanks guys !
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Its great to see that here Akil because I was also thinking that way. That must be because I have learnt a lot of things from you :)
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Akil_Stokes PRO AbdullahArslan
hey Abdullah! That's great to hear man. It's always awesome when things begin to pop out to you like this
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Are you long now?
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Yes, first profit targets were just hit on the trade
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rainbowolf Akil_Stokes
Nice! 110.334 2nd?
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rainbowolf rainbowolf
Uneasy chasing this. Think I'll wait for a pullback. The YEN is tricky for me.
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I agree, Chasing a trade is usually a bad idea
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Somewhere around that level if I remember correctly
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Great
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Akil_Stokes PRO kHaled.ibrahim
Thanks
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Good stuff. Here's a 2618 for you Akil. Though I imagine you do not trade this pair.
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Thanks for sharing, but that's not a 2618 yet. Certainly could end up being one though depending on how price moves
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Lanmar PRO Akil_Stokes
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Still not one, please re-watch the training and make sure you're taking the right steps in identifying them http://tradeempowered.com/
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Lanmar PRO Akil_Stokes
Thanks bud
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