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.
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I am now all flat on this position. Very nice move!
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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
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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
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Tempting but possible head and shoulders leaves me on the sidelines on this one.
+1 Reply
And you were right :)
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snapshot
+1 Reply
Akil_Stokes PRO JasonNeeley
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"
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JasonNeeley Akil_Stokes
Nice short term pop. I'm curious where you put your stops on this setup?
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Nailed it!
+1 Reply
Got to love the pain free ones
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