Akil_Stokes
Long

USDJPY Pennant Pattern Breakout

FX:USDJPY   U.S. Dollar/Japanese Yen
Syndicate members there will be a video coming out on this shortly, but I wanted to share with you guys a potential breakout trade that I have on my radar this Tuesday Morning             .

If you're unsure on the different ways to trade these types of simple consolidation pattern you can check out the video I posted 2 weeks ago titled "How To Trade Breakouts"

But there is a lot of potential upside on this trade especially when you consider the levels of structure that we have just broken & the next levels of potential resistance that lie on the daily around the 111 even handle.
Akil Stokes -Head FOREX Trading Coach at Trade Empowered
Check Out Our Free Training https://goo.gl/5e8Jcr
TradeEmpowered On Youtube https://goo.gl/IscNch
Akil Stokes on Youtube https://goo.gl/u5kDC3
"Plan Your Trade, Trade Your Plan"




RuhailKhan
22 days ago
It will touch 107.80 first.
+3 Reply
Akil_Stokes TOP RuhailKhan
22 days ago
@RuhailKhan, Since "It Will" I would suggest selling at market since nothing else can happen but it touching 107.80's
+1 Reply
Lulo Akil_Stokes
21 days ago
@Akil_Stokes, Thank you sir i nailed about 20 pips on that one
+1 Reply
Akil_Stokes TOP Lulo
21 days ago
@Lulo, Congrats
Reply
MyFxLife
21 days ago
Hi Akil,
Only a quick question. What about the bottom wicks inside your pennant? Are the ignorable?
+3 Reply
MyFxLife MyFxLife
21 days ago
*they
Reply
Akil_Stokes TOP MyFxLife
21 days ago
@MyFxLife, No, I am paying attention to them and they were part of the reason that I liked this potential trading opportunity
+1 Reply
MyFxLife Akil_Stokes
21 days ago
@Akil_Stokes, So when you draw the support and resistance lines for pennant and the other patterns you draw them according the open and close prices of the candles?
+1 Reply
Akil_Stokes TOP MyFxLife
21 days ago
@MyFxLife, No whenever looking at support & resistance I take into account the wicks and closes. highest highs and lowest lows are very important to me
Reply
Akil_Stokes TOP MyFxLife
21 days ago
@MyFxLife, Don't be too caught up on the actual lines that you see on the chart, they are just sued to illustrate the consolidation pattern, not to actually provide levels of support and resistance
Reply
MyFxLife Akil_Stokes
21 days ago
@Akil_Stokes, Its clear now. I just didnt understand that your support line is crossing over the wicks. Thank you for your answer.
+1 Reply
Akil_Stokes TOP MyFxLife
21 days ago
@MyFxLife, No problem, glad I could clear things up for you
Reply
LeoTran
21 days ago
one of the Akil quality grade trade ! welcome back! very good call!
+1 Reply
Akil_Stokes TOP LeoTran
21 days ago
@LeoTran, Thanks Leo!
Reply
derekvela
21 days ago
We have a bearish gartley + crap pattern near the 109

Reply
TPparadigma PRO derekvela
21 days ago
@derekvela, Made may day " Crap " patern! Thanks for this, I loled kinda hard! Best of luck! :D
+2 Reply
derekvela TPparadigma
3 days ago
@TPparadigma, Lmao I just read it, how embarrassing
Reply
ysspavan PRO
21 days ago
Superb Idea. Wonderful.Thinking how did i miss analyzing this.
+1 Reply
Akil_Stokes TOP ysspavan
21 days ago
@ysspavan, Thank you
Reply
Yka7 Akil_Stokes
21 days ago
@Akil_Stokes, to where we are going up sir?
+1 Reply
Akil_Stokes TOP Yka7
21 days ago
@Yka7, I have no idea on where the market will go up to. The market tends to do whatever it wants to when it wants to. All I can do is try to make the best predictions possible (which I showed on the chart and in the description box above)
+2 Reply
Pacorretaco Akil_Stokes
21 days ago
@Akil_Stokes, I'm not an expert, but chances are it does not go much further than the 1.27

I'd roll my stops to positive, as I see a potential move to the downside for the USD.

Cheers
+1 Reply
Akil_Stokes TOP Pacorretaco
21 days ago
@Pacorretaco, Nice! Trade management is a key factor is successful trading
+1 Reply
Pacorretaco Akil_Stokes
13 days ago
@Akil_Stokes, Well, looks like it's one of those times where I'm happy for being wrong. Big profits.
The downside I saw for the USD is still there though.

Cheers
+1 Reply
Akil_Stokes TOP Pacorretaco
13 days ago
@Pacorretaco, Why are you happy about being wrong?
Reply
Pacorretaco Akil_Stokes
13 days ago
@Akil_Stokes, Because I was looking (and I am still looking) for USD weakness.

I was in several pairs favoring the dollar (short EUR, short AUD, short gold and long UJ as well) And despite I thought *then* that the turning point was about to happen, It actually kept going. Fortunately, Didn't close all my positions , so I got more than expected (I did close the Yen though).

Thanks for your nice work by the way!

Cheers
+1 Reply
Akil_Stokes TOP Pacorretaco
11 days ago
@Pacorretaco, No problem, glad you've enjoyed my posts
Reply
fcml PRO
20 days ago
I do not see any news stopping this trend up until 111. With a break above it and possible +ve dollar momentum we are looking at 115..
+1 Reply
Akil_Stokes TOP fcml
20 days ago
@fcml, Nice! Thanks for sharing your opinion on the pair!!
Reply
Ideas Scripts Chart
United States
United Kingdom
India
España
Italia
Brasil
Россия
Türkiye
日本
한국
Home Stock Screener Economic Calendar How It Works Chart Features House Rules Moderators For the WEB Widgets Stock Charting Library Priority Support Feature Request Blog & News FAQ Help & Wiki Twitter
Private Messages Chat Ideas Published Followers Following Priority Support Public Profile Profile Settings Billing Sign Out