Akil_Stokes
Short

USDJPY: Potential Bearish Bat Pattern w/ Supply Zone

FX:USDJPY   U.S. Dollar/Japanese Yen
Not too much on my radar today, which is perfect since I prefer not to be actively trading on Monday’s. With that being said, something that I have my orders locked and loaded on for later on is this potential bearish bat pattern on the USDJPY             completing at 125.09 right around a 4hr supply zone . This one may also be worth watching as it approached 125 even as we know how these psychological numbers affect price action.

Last week was one of our rougher week’s in the Syndicate program. If you’d like to read about it check out the blog post I wrote reviewing my 33rd Week of Trading in 2015. http://tradeempowered.com/week-33-in-review/

Akil Stokes
Chief Currency Analysis at Trade Empowered
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SmartTradingFX
a year ago
Hi Akil, I seem to remember you saying Bats are not your favorite patterns to trade, are you interested in this as its completing around a structure zone!?...

I didn't have to much on today but iv'e taken two shorts on GBP so we will see how they play out... This being one of them...
+1 Reply
Akil_Stokes TOP SmartTradingFX
a year ago
The complete opposite, Bats are my favorite advanced pattern
+2 Reply
SmartTradingFX Akil_Stokes
a year ago
Sorry Sir maybe it was mentioned in a video where the Bat wasn't completing around structure so stop placement was an issue... Thank you we will see how they progress
+1 Reply
Akil_Stokes TOP SmartTradingFX
a year ago
Probably thinking of the Gartley pattern, which i'm not too much of a fan of
Reply
SmartTradingFX Akil_Stokes
a year ago
Could well be! I don't trade patterns myself (as you can probably tell getting them mixed up) but will eventually want to add maybe one of them to skill set...
+1 Reply
Akil_Stokes TOP SmartTradingFX
a year ago
Bat's and Gartley's essentially look the same, so that's completely understandable, i've also been known to say gartley when i mean bat and say bat when I mean gartley every now and then
Reply
Akil_Stokes TOP SmartTradingFX
a year ago
If we're talking pure profitability the cypher would be my favorite by far, but one of the reasons I like bat patterns is because I know that I can always get a good initial risk to reward from them, since the D completion is so close to X
+1 Reply
SmartTradingFX Akil_Stokes
a year ago
Low Risk is always a massive plus and them Low Risk High Reward trades are the ones we want ...
+1 Reply
Akil_Stokes TOP SmartTradingFX
a year ago
Exactly, I know I'm going to lose and lose a lot, so I might as well keep those losses as small as possible when I do
+1 Reply
SmartTradingFX Akil_Stokes
a year ago
For sure Sir! No trades today for you then?
+1 Reply
Akil_Stokes TOP SmartTradingFX
a year ago
If something higher time frame gets filled then yes, but I won't be actively trading
+1 Reply
SmartTradingFX Akil_Stokes
a year ago
Cool! Im sure you will have something on the radar for tomorrow...
+1 Reply
Akil_Stokes TOP SmartTradingFX
a year ago
Yup we'll see what the markets give me
+1 Reply
riskmode Akil_Stokes
a year ago
If risk reward is the most important thing in deciding which pattern is your favorite. Why isn't the crab your favorite pattern?
+1 Reply
Akil_Stokes TOP riskmode
a year ago
Crab patterns complete above X, which means price action has already broken structure. Structure is how I base stops and a break and close above structure tells me to be on the look for trend continuation and not counter trend
Reply
Akil_Stokes TOP riskmode
a year ago
Same reason I don't trade butterflies or sharks either, they just don't fit with my trading philosophy
Reply
dangap Akil_Stokes
a year ago
I like the butterfly only if d leg completes at major structure.
+1 Reply
Akil_Stokes TOP dangap
a year ago
I'm with you on that
Reply
Akil_Stokes TOP SmartTradingFX
a year ago
Good luck on the GBP shorts
+2 Reply
SmartTradingFX
a year ago
GBPUSD: Short From That Solid Structure Zone Once Again?
+1 Reply
Akil_Stokes TOP SmartTradingFX
a year ago
Jason is talking about the same trade as you posted right now in our War Room meeting
+1 Reply
SmartTradingFX Akil_Stokes
a year ago
GBP/USD? Excellent! That gives me confidence :) Share and like away Akil :)
+1 Reply
SmartTradingFX Akil_Stokes
a year ago
Is he of the same thought process? Or looking at the breakout?
+1 Reply
Akil_Stokes TOP SmartTradingFX
a year ago
He was looking for a potential short as well.
+1 Reply
SmartTradingFX Akil_Stokes
a year ago
Thats my GBPJPY Short in for +75 PIPs Akil
+1 Reply
Akil_Stokes TOP SmartTradingFX
a year ago
well done
+1 Reply
Looks like the smaller bat (1hr) just pinged for +15!!!
+1 Reply
SmartTradingFX Akil_Stokes
a year ago
Love that! Nice start the week! Well done sir!
+1 Reply
Davis
a year ago
Akil could you give me a rule for B-C leg for bat pattern pls, pls, pls ?
+1 Reply
Akil_Stokes TOP Davis
a year ago
I use a min of 38.2, but there are plenty of other rules including a 50.0 (which is what I started with for years) and a 61.8
Reply
Davis Akil_Stokes
a year ago
Thank you so much man!
+1 Reply
Akil_Stokes TOP Davis
a year ago
no problem
+1 Reply
fxmillions
a year ago
I actually entered long this morning at the 1H trendline support. Price wasn't going anywhere today, but held onto the trade after locating the same possible BAT pattern. Probably will see if price breaks the BAMM trigger tomorrow, if not will take a small hit. Its a relief to see that you have the same projections. Thank you.
+1 Reply
Akil_Stokes TOP fxmillions
a year ago
No problem, best of luck with your trade. May the profits be with you
+1 Reply
fxmillions Akil_Stokes
a year ago
Thanks once again. Keep up the good work.
+1 Reply
moneymaking
a year ago
Awesome setup Akil, we are likely to get more harmonic patterns, since many pairs have been consolidating for quite some time. All the BEST mate :)
+1 Reply
Akil_Stokes TOP moneymaking
a year ago
Hopefully, not sure if I want to deal with another sleeper of a week like last
Reply
RickMusick
a year ago
Hi Akil, Thank you for your analysis. I have found that the Yen crosses don't obey the advanced patterns as well as non Yen pairs. Have you noticed this? What are your thoughts?
+1 Reply
Akil_Stokes TOP RickMusick
a year ago
I have not noticed that with the Yen pairs that I've traded, however I've also never tested patterns on some of the crosses such as nzdjpy, cadjpy,audjpy or chfjpy so I'm not going to disagree with you.
Reply
Akil_Stokes TOP RickMusick
a year ago
I learned my lesson the hard way about not trading too many yen crosses at once a few years back so i've always been cautious
Reply
riskmode
a year ago
Why is the supply zone on this bat any more noteworthy than any other supply zone? There is always going to be some degree of structure at the X point, otherwise it wouldn't be an X. If anything it looks like this would be a weak supply zone.
+1 Reply
Akil_Stokes TOP riskmode
a year ago
It's not any more noteworthy, just pointing out what's on the chart
Reply
dionvuletich
a year ago
yes I would short that...!
+1 Reply
Jurij
a year ago
Good spot, I have the same pending limit order due to the awesome supply zone.
The nice and quick drop from that zone signals high imbalance of buyers and sellers, so the probability is high that there are some more sellers left unfilled from last time price was there.
+1 Reply
Akil_Stokes TOP Jurij
a year ago
Hopefully, i'd be happy to see that type of reaction
Reply
moneymaking
a year ago
Hey Akil, we also got a completion of a bullish gartley pattern. Check it out :
snapshot
Reply
moneymaking moneymaking
a year ago
CORRECTION: This is the completed pattern:
snapshot
+1 Reply
Akil_Stokes TOP moneymaking
a year ago
I was watching, this, had to pass because I don't trade during the FOMC
Reply
moneymaking Akil_Stokes
a year ago
Oh, yes that right. Good decision mate :)
Reply
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