USDJPY: Bull Pattern in a Bear Market

FX:USDJPY   U.S. Dollar/Japanese Yen
Following up on a topic we covered in last week's Monday session. Here's a perfect example of how you can have a trading opportunity that is both Counter Trend & Trend Continuation at the same time.

Remember gang, the market moves in fractals, meaning there are moves within moves and trend withing trends, within trends.

Akil Stokes
Chief Currency Analyst & Head Trading Coach
http://www.TradeEmpowered.com -The Premier Online Trading Education Company

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Comment: Stops now rolled to 108.78's
you wait for a triangle break here?
if so rr not so good
+1 Reply
There are 3 ways you could have entered all depending on your level of aggression. A buy at the lower end of the triangle, a buy at the breakout, or a buy on the retest
+1 Reply
Hey Akil ,

What's the basic prencibles behind of this trade? Wedge Pattern or anything ?

+1 Reply
Akil_Stokes PRO Tarantababu
yes the wedge. I recorded a video of the analysis, not sure if i'll release it or not, but if so it'll be this Thursday on my weekly video
Caught some nice pips on this one already. Thanks and I was late haha I didn't see your post until a couple hours later but it was actually a more conservative entry rather than a late one as it had just broken and closed above the upper line on a lower time frame. Took it and went to bed and woke up wit 40 pips.
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Well done Chas!
hi Akil
why did u take this trade although you trade 2618 ? which is clearly appears in the chart , and the major trend is down
new lower low
i will post my chart below
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bassel.hadak PRO bassel.hadak
Akil_Stokes PRO bassel.hadak
That's not a 2618 for me, but I took the trade because to the ascending triangle
Akil_Stokes PRO bassel.hadak
I recorded a video of it last night. not sure if it'll make it into this weeks weekend review or not but if i share it that will explain my thought process behind thew setup
bassel.hadak PRO Akil_Stokes
i will have a look thanks
and best of luck
Hi Akil! is 2618 cant be applied into this?
+1 Reply
Akil_Stokes PRO madi052893trading
It's not a 2618 for me
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