Akil_Stokes
Short

USDJPY: Rising Wedge Into Previous Structure (read description)

FX:USDJPY   U.S. Dollar/Japanese Yen
I’m looking at a rising wedge type of pattern forming here on the USDJPY             that is working it’s way toward a pretty significant level of structure (look left). We typically see a breakout to the downside with this type of setup as it represents the market losing steam after a high volume move.

I’ll be looking for short opportunities on this pair in the Live Trading Room, but we might want to keep out eyes on the 8:15 ADP number as we are still looking at a very bullish dollar.

This is my last active trading day for the week as I’m headed out of town but I didn want to leave you guys with a short video titled “How to Grow Your Trading Account” Here’s the link Here's the link to my youtube video "How To Grow Your Trading Account" here’s the link.

https://www.youtube.com/watch?v=Ib2cPfHvrC0

Hitting the LIKE button, leaving a comment and sharing on my youtube page would be a BIG HELP!
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Akil Stokes
Chief Currency Analysis at Trade Empowered
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RCP
a year ago
Nice opportunity, however I see bearish gartley at this resist zone.
+2 Reply
Akil_Stokes TOP RCP
a year ago
Nice, bearish works, maybe we'll both get the chance to ride it down using different tactics. That would be sweet
Reply
OsamaAbouzeid
a year ago
I am waiting for the completion of ABCD pattern at structure level
snapshot
+3 Reply
Akil_Stokes TOP OsamaAbouzeid
a year ago
that would be very nice as well, thanks for the heads up,
Reply
jackhubers
a year ago
Hey Akil,

there is also a bearish gartly completed at 124.47 and a potential bullish gartly at 123.22 on this pair.

jack
+1 Reply
Akil_Stokes TOP jackhubers
a year ago
It's not going to be a Gartley for me, but that's a good thing to have at that level
Reply
MaryJane
a year ago
thank you ..have nice days
+1 Reply
MaryJane MaryJane
a year ago
Thx for sharing....i had the same view :-)

Preparation for Flag-Trade:
Preparation for Flag-Trade


snapshot

shortterm flag trade: entry 124,55 / Initial SL: 123,85 / TP: 125,5-125,7
middleterm flag trade: entry 124,55 / Initial SL: 122,75 / TP: 129
I don`t trade that - it´s just a trading idea!

Pair with bullish FLAG
snapshot

Y€$ - the widge got triggered and bought! This pushed the pair to its last high @ 124.42. From reaching this high a chealthy consolidation started, the pullback stopped @ 38,2 fibo - the minimal correction level!
This consolidation is forming a bullish flag (blue). The buying signal is active when the pair is traded above 123,9 / 124,45. I see potential on the upside.
On the downside, the level between sma 200& ema 200 should be a strong support.
Prices below this level will turn the chart into bearish (middleterm)
former analysis:
Will the support <a href="/u/121/" target="_blank">@121</a>,5 hold and the bullish wedge be triggered?

Will the support @ 121,5 hold and the bullish wedge be triggered and bought?
If yes, then the shortterm target @ the upper side will be the upper edge of the longterm uptrend @ 129,5.
If the strong support @ 121,5 does not hold, a fast drop till target @ EMA200 @ 118 could appear.
Below the EMA 200 a drop till the longtermtrend @ 113,6 could be exspected.
If you like my analysis and find it useful, please take a second and hit the LIKE button and follow me. It takes some time to create these posts and your LIKES let me know it is helpful to you. As always, any comments are welcome. Agree or disagree.

Will the support @121,5 hold and the bullish wedge be triggered?
Will the support <a href="/u/121/" target="_blank">@121</a>,5 hold and the bullish wedge be triggered?
snapshot

Will the support @ 121,5 hold and the bullish wedge be triggered and bought?
If yes, then the shortterm target @ the upper side will be the upper edge of the longterm uptrend @ 129,5.
If the strong support @ 121,5 does not hold, a fast drop till target @ EMA200 @ 118 could appear.
Below the EMA 200 a drop till the longtermtrend @ 113,6 could be exspected.
If you like my analysis and find it useful, please take a second and hit the LIKE button and follow me. It takes some time to create these posts and your LIKES let me know it is helpful to you. As always, any comments are welcome. Agree or disagree.
+1 Reply
Akil_Stokes TOP MaryJane
a year ago
Looks like we have opposite views actually, I'm looking to short, your charts look to be waiting for a bull breakout
Reply
MaryJane Akil_Stokes
a year ago
..and here it is: The breakout: Announced Flag Trade filled: LONG
snapshot
https://www.tradingview.com/chart/USDJPY/tcBVbpNT-Announced-Flag-Trade-filled-LONG/
+1 Reply
Akil_Stokes TOP MaryJane
a year ago
nice looks like we were both right
Reply
MaryJane Akil_Stokes
a year ago
YES - perfect! Good Job!
+1 Reply
Akil_Stokes TOP MaryJane
a year ago
That's what i love about this market!
Reply
MaryJane Akil_Stokes
a year ago
:-) flashed left, turned right :-) thats the way i love it ;-)
+1 Reply
Akil_Stokes TOP MaryJane
a year ago
Thanks you too
Reply
technicaltrade
a year ago
daily line we have to, for resistance
+1 Reply
Akil_Stokes TOP technicaltrade
a year ago
Nice!
+1 Reply
marcus123
a year ago
Nice call Akil
Reply
Akil_Stokes TOP marcus123
a year ago
thank you
Reply
technicaltrade
a year ago
I think the best strategy in forex is breakout trading! what u think?
+1 Reply
Akil_Stokes TOP technicaltrade
a year ago
I think the best strategy is whatever works the best with the individual traders personality. With so many ways to be successful I have a hard time calling anything the best. Rather it's more about what works best for the trader
+2 Reply
FX_J4YD3N
a year ago
Did you get stopped out?
Reply
Akil_Stokes TOP FX_J4YD3N
a year ago
It tanked before I was able to get involved, but it did go down to hit what would had been my targets which is why I did not re-enter after the move. A few of my live room members were able to get on it though and had a good time teasing me about it.
Reply
DRK
a year ago
stopped out !!
Reply
FX_J4YD3N DRK
a year ago
I didn't know if he actually entered the trade that is why I asked
+1 Reply
Marvin FX_J4YD3N
a year ago
I don't understand why he (Akil) is saying "looks like we were both right". The USD went straight north and would have stopped him out. Akil?
+1 Reply
Akil_Stokes TOP Marvin
a year ago
please take another look at the candle as it spiked down 40pips on the ADP news this morning before correcting itself, you should be able to get a clearer ;look at the markets movement on anywhere from the 60-5min charts
Reply
Akil_Stokes TOP Marvin
a year ago
Here's a chart showing what I mean
snapshot
Reply
Akil_Stokes TOP FX_J4YD3N
a year ago
That's a perfectly fair question to ask so don't feel bad at all.
Reply
Marvin Akil_Stokes
a year ago
Hmm. Ok fair enough. I set a sell limit order on the higher side of the wedge (124.58) so I didn't get filled 'till she came back up again. Thanks for clearing this up.
+1 Reply
Akil_Stokes TOP Marvin
a year ago
no problem, I was waiting for a higher entry as well to give me a better risk reward, and just tanked before getting there
Reply
gj
Reply
snapshot

Colleague of main early morning asked myself what about short idea on USDJPY - there is strong resistance zone. My belief is if price is knocking to often - finally someone will open the door - so made such picture :)
+4 Reply
I thought you were a hunter
Reply
important to sleep peacefully
Reply
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