Akil_Stokes
Short

USDJPY 4HR: Multiple Bearish Setups

FX:USDJPY   U.S. Dollar/Japanese Yen
We've been waiting for the bearish Cypher on USDJPY             for a while now and as the market churns legs for multiple other advanced patterns have been created as well.

The smaller bat is the only one on my current radar with the others in the back of my mind for a possible completion later in the week as we get into more oft he fundamental announcements.
Akil Stokes -Head FOREX Trading Coach at Trade Empowered
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alogg
2 years ago
Hi Akil and thanks for sharing, does this accumulation of patterns increases the chance of completion? Plus, given the heavy structure level on daily below, would this suffice to trigger a long position till the small Bat completion?
snapshot
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Akil_Stokes TOP alogg
2 years ago
I have no statistics to confirm such, but usually the more confluence the better the level. With that being said I remember having 4 patterns on a Euro trade before that broke straight through. Although the USDJPY has been at an interesting level for a while I would never look for a position based off of the potential of a pattern. Noe if you can find another reason for entry, say a structure reason, you can always base targets off of the potential pattern since you know it should act as the next area of resistance.
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AjkMohsen
2 years ago
Hey Akil, would you take this X leg for the gartley? Because i'm not sure
snapshot
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Akil_Stokes TOP AjkMohsen
2 years ago
On a lower timeframe sure
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Cross16275482
2 years ago
Hi AKil...For cypher in this chart, the AB leg is retracing to only 50%...
Is 61.8 not a requirement for AB leg for Cypher pattern
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Akil_Stokes TOP Cross16275482
2 years ago
No it's not a requirement
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Cross16275482
2 years ago
Hi AKil..In the potential bat pattern which you have created, the AB leg is crossing 61.8 and not touching 78.6 and i created the same pattern on my chart as a potential gartley pattern with the following criterion :
AB- must touch 61.8 but should not touch 78.6
BC - must touch 61.8 but should not touch 78.6 of AB
CD - 78.6 of XA or 1.272 of AB
All the above is as per Jason's video which i watched.

Could you let me know where i am going wrong and getting confused between a gartley and a Bat pattern in this case...Thanks
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Akil_Stokes TOP Cross16275482
2 years ago
I think you chose a different impulse leg than I did. On the hourly chart if you look at the mid point of my X-A, that leg can be the X-A of a potential Gartley. Am I right in saying that your "X" starts at 101.57. Somehwere around that area?
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Cross16275482 Akil_Stokes
2 years ago
Yes, You are absolutely correct...The gartley was forming on a 1H chart and the impulse leg had a different starting point. I checked the 4 hour chart and the AB leg is meeting 50 retracement and BC leg is crossing 61.8 retracement of AB. For a a bat formation, shouldn't the BC leg be retraced back to 88.6 of AB ? Thanks for the first clarification.
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Akil_Stokes TOP Cross16275482
2 years ago
No, it doesn't have to retrace to the 88.6 to be valid
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WOW! AKIL!! I saw you here. haha. everyday I watched your vedio in syndicate
+1 Reply
Akil_Stokes TOP tntsunrise
2 years ago
Hey, I've been on for a while, but just decided to start posting once in a while. No sure if it's a good or a bad Idea but we'll see.
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Cross16275482
2 years ago
Thanks so much Akil !....i have been a regular viewer of your videos and you are doing a wonderful job to spread the knowledge.
Appreciate it so much
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MontyBru
2 years ago
Hi Akil, Great to see you posting here as well as the Syndicate. I appreciate your work and enjoy your analysis and all you do to bring positive inspiration to the trading community. I just wonder how long it will be before the trolls attack you like they have already done to Jason. Really quite sad that there are those in the community with such ill intent. I know you won't but don't let 'em getcha down! Keep on Rock'n in the Free World!!!
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Akil_Stokes TOP MontyBru
2 years ago
Thanks Monty, I read that back and fourth yesterday. On one hand I hate seeing people like that. but on the other hand I was pretty impressed by the amount of level headed traders that put them int heir place. Just shows that a few bad apples can't ruin the bunch. I'm sure they'll come for me on here as well as they often do through my other social outlets and email. After reading through some of your responses and a few others, I'm going to try my best to simply ignore them and not waste any energy them. I do like to argue, but nothing worthwhile would come from it.
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smccreery
2 years ago
it's made it all the way to the kill zone area.
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