Akil_Stokes
Short

USDJPY 3 Drives Pattern

FX:USDJPY   U.S. Dollar/Japanese Yen
In between rooting for the Royals to win game 7 of the World Series, I've been trying to catch up on my evening analysis. As we know it's been an active day in the markets, with the FED announcing a halt to it's bond-buying efforts and some pretty explosive moves in the market this afternoon.

What I'm looking at on the USDJPY             is a potential 3 Drives pattern that would end us right at previous structure highs and a 161.8 Fibonacci extension level. As I do with my traders every morning in the Live Trading Room, I want to ask myself the question of not only "where will the market go?" But also "how are we likely to get there?" We'll see what the market has in store after the 1st half of the London session, but this is certainly a trade that is high on my radar.

For those interested I invite you to come train and trade with me for a week starting November 3rd-7th It's going to be massive! Hope to see you there! https://tradeempowered.leadpages.net/vision-week/
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Hi Akil I have been a big fan of yours for a while now, love the effort you put into helping out others. All the best to you.
+3 Reply
Thank you!
+1 Reply
I have a quick question. Is Vision Week event will be recorded for later review look?
Reply
It'll be a game time decision but as of now I don't plan on recording the entire thing.
+1 Reply
Greg_Rudy Akil_Stokes
Think also about Europe! You are also recognizable, not only in America but throughout the world, as I suspect to. Please give the opportunity to watch your training after recording. For these people, which time zone does not help. I am very, very please: D
+3 Reply
I fully understand that there is no time period that works best for everybody, one of the downfalls of an international market. But also understand that it takes a lot of time and effort to record, produce, and post 15 hours of content especially when we have a lot of other things going on at the same time. So we'll see, maybe I'll record the parts that I feel are the most educational, but I can't make any promises because I simply don't know yet. Hope you understand
+2 Reply
Greg_Rudy Akil_Stokes
Of course I understand. But I still keep my fingers crossed.
+1 Reply
Can we really use it as a three drives as the retracements are not 61.8% fibonacci levels. Am I right?
+2 Reply
Sure you can. A 61.8 retracement level has nothing to do with it.
+2 Reply
nubcaked Akil_Stokes
No offence, but the tutorial at babypips.com says that the retracement of each retracement should be 61.8% and that the next up trend should be 127.2% or 161.8% extension of each retracement. Maybe you could explain what characteristics you look for in a three drives pattern?
+2 Reply
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