Akil_Stokes
Long

USDJPY Descending Wedge Into Previous Structure

FX:USDJPY   U.S. Dollar/Japanese Yen
Looking at a long opportunity here on the USDJPY             for a few reasons. The first is a retest of our previous outside return and the second is the descending wedge pattern that exist. I'm typically not a wedge, triangle, flag, or pennant trader, but I am a structure trader so when all the starts are in align I take it.

SYNDICATE members I'm producing a video as we type with a more in depth look at the mindset behind this trade idea along with a few other setups as well.
Akil Stokes -Head FOREX Trading Coach at Trade Empowered
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"Plan Your Trade, Trade Your Plan"




moneymaking
2 years ago
Hey Akil, Thanks for the setup. Good luck!!
+1 Reply
Akil_Stokes TOP moneymaking
2 years ago
Off to a good start, I was hoping Canada would follow along. Our EURJPY moved great though
Reply
Nice Akil!
+1 Reply
meteo.markets
2 years ago
Hi. I do agree. Targets of this upward move: 119.00 119.70 120.30
Be careful, action is SIDEWAYS. Prices will move back down to 118.40
+1 Reply
Akil_Stokes TOP meteo.markets
2 years ago
Pretty good structural levels there!
Reply
Patrick_Tremblay
2 years ago
I also spotted a Gartley pattern near 118 :
snapshot
-1 Reply
Nice chart. Thanks for sharing! What Timeframe is this chart in?
+1 Reply
Raptor0669 TradingQueen
2 years ago
H1 chart
+1 Reply
Akil_Stokes TOP TradingQueen
2 years ago
Thanks and The chart posted was a 60min chart
Reply
dangap
2 years ago
Nailed it!
+1 Reply
Akil_Stokes TOP dangap
2 years ago
Got to love the pain free ones
Reply
JasonNeeley
2 years ago
Tempting but possible head and shoulders leaves me on the sidelines on this one.
+1 Reply
Nico.Muselle MOD JasonNeeley
2 years ago
And you were right :)
Reply
Nico.Muselle MOD Nico.Muselle
2 years ago
snapshot
+1 Reply
Akil_Stokes TOP JasonNeeley
2 years ago
As I like to say "when it doubt...STAY OUT" can't lose anything if you never enter a position. And we all know the #1 rule of trading "conservation of capital"
Reply
JasonNeeley Akil_Stokes
2 years ago
Nice short term pop. I'm curious where you put your stops on this setup?
Reply
flybird
2 years ago
Hey Akil , i joined the syndicate yesterday but cant get hold of either you or Jason , anyway i see a Flag on USDCAD 4hr in play , please advise on that , the structure it very good but i think i need a second opinion , thanks
Reply
Akil_Stokes TOP flybird
2 years ago
I didn't see any emails from you, but please realize that the Syndicate isn't a service where Jason and I will give you advice on a trade by trade basis. Unless your a member of a training course where I'm teaching you to trade a certain way and can't say if what you're doing is right or wrong because I simply don't know your trading plan and your rules for engaging the markets. I can share my opinion on a particular situation and tell you if I would trade it or not but that shouldn't affect your decision making. At the end of the day my overall advice will be to trust the plan that you worked so hard to create for yourself, and if you don't have a plan stop trading (live at least) until you create one. With that being said go ahead and try sending your email again as I saw nothing in my inbox
Reply
I am now all flat on this position. Very nice move!
Reply
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