Akil_Stokes
Short

USDJPY: Structure/Advanced Pattern Formation Short

FX:USDJPY   U.S. Dollar/Japanese Yen
4 months ago
We have a few things happening here on the USDJPY             . First off we've had the completion of a Bearish Advanced Bat Formation at 105.88. Because the required risk to involve myself in this trade is outside of my allowable range, i've involved myself using structure & price action.

As we approach the pre-brexit highs, you'll notice that not only has the momentum started to slow, but we're also seeing bearish divergence on the RSI as we hit our resistance level.

Syndicate Members, if you haven't gotten to it already, this was one of the trades talked about in tonight's video so give it a look for a more detailed explanation.

Good luck in the markets this week traders! Let's trade smart and leave those emotions on the sidelines.

Akil Stokes
Chief Currency Analyst & Head Trading Coach
www.TradeEmpowered.com -The Premier Online Trading Education Company
Trade Empowered on YouTube https://goo.gl/IscNch

YouTube https://goo.gl/Afk5sG
Facebook: https://goo.gl/VTQngr
Twitter: https://goo.gl/FlH33l
@AkilStokesRTM (Instagram, Periscope, Snap Chat & StockTwits)



4 months ago
Trade active
4 months ago
Trade closed: stop reached: Stopped out right before the downward move. Always stinks when that happens
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"




What do you know, the exact same entry level :D
snapshot
+1 Reply
Akil_Stokes TOP Nico.Muselle
4 months ago
Well done Nico!!
+1 Reply
TomPower Akil_Stokes
4 months ago
Come on guys do you really think these make-believe patterns work
+2 Reply
Akil_Stokes TOP TomPower
4 months ago
Hey Tom, I would hope not! and that goes for any strategy. If a trader is placing trades because they "think" that a strategy will work then that has disaster written all over it.
+4 Reply
albertokundaye5 Akil_Stokes
4 months ago
You're a smart man. Good job you and Jason!
+1 Reply
Akil_Stokes TOP albertokundaye5
4 months ago
Thank you!
Reply
Pabloeac
4 months ago
look
USDJPY Diario Short
+1 Reply
gadzmustbecrazy Pabloeac
4 months ago
what harmonic pattern is this good sir?
+2 Reply
Akil_Stokes TOP gadzmustbecrazy
4 months ago
He's looking at a CYpher formation
Reply
Akil_Stokes TOP Pabloeac
4 months ago
Nice, great recognition there Paloeac!! Heck of a risk to reward ratio you have as well. Good job man
Reply
gadzmustbecrazy Akil_Stokes
4 months ago
would that still be a valid cypher pattern even if point C is way past 113%-141%?
+1 Reply
Akil_Stokes TOP gadzmustbecrazy
4 months ago
Yes
Reply
gadzmustbecrazy Akil_Stokes
4 months ago
ty for that tip. Ty sir :-)
+1 Reply
Akil_Stokes TOP gadzmustbecrazy
4 months ago
No problem
Reply
Elliot_Myers
4 months ago
Thank you Akil!
+1 Reply
Akil_Stokes TOP Elliot_Myers
4 months ago
No problem Elliot, just noticed that it's been a while since I've shared any ideas on this site, so i wanted to get one in to start the week off.
+3 Reply
Nemo75
4 months ago
Thank you for heads up, Akil.
Quick question: Why don't you think the price will respect the support level around 102.85?
At my first look it seems to have been resistance after the Brexit fall and I would suppose it to be a support level for a potential Short trade.
+1 Reply
Akil_Stokes TOP Nemo75
4 months ago
Hey Nemo. I do think that level 103.00's has a chance to be supported. That's one of the reasons I opted to take a partial position off ahead of that level. We enter choppy territory between that level and our previous structure lows.
+1 Reply
Technician TOP
4 months ago
Looks promising Akil
+1 Reply
Akil_Stokes TOP Technician
4 months ago
Thank you Technician, I appreciate the comment
Reply
johnmad PRO
4 months ago
Watching the top of the channel as well as RSI to post Negative Divergence
snapshot
+3 Reply
Akil_Stokes TOP johnmad
4 months ago
Let's see if we get any follow through with this one
Reply
Davis
4 months ago
Hey, Akil. One question not directly connected to this trade.
Are you experiencing the same consolidation in your equity curve as the last year?

Nice trade btw. Im got involved and then saw your post so boosts my ego a bit (in a good way) :D
+1 Reply
Akil_Stokes TOP Davis
4 months ago
Hey Davis, yes, I'm experiencing the same type of "summer slowdown" as last year. I'm at a lower level of overall return on investment when compared to last year but the curves actually look pretty similar. I'm hoping to link a few good weeks together and end the summer with a different answer however.
Reply
Davis Akil_Stokes
4 months ago
Thanks for your answer. Well I was asking because I also have trouble makeing new equity highs basicaly since May and I remembered one of your videos where you showed your equity curve and it was more or less sideways the whole summer...was being just curios because I also trade advanced patterns and structure (everything learned from you and Jason).
+1 Reply
Akil_Stokes TOP Davis
4 months ago
You're welcome. Overall I've found this to be a very difficult year to trade and if you talk to a lot of the top traders out there, you'll hear the same thing from many of them. In general summers are always like this. Not saying that they're always negative, but they tend to be slower simply because of the thinner markets. In all honesty, if I weren't involved in the coaching business, I'd probably take most if not all of the summer off in my personal trading and use it as a time for vacation and to work on improving my craft
Reply
Davis Akil_Stokes
4 months ago
Good point! Good luck man!
+1 Reply
Akil_Stokes TOP Davis
4 months ago
Thanks same to you.
Reply
brandonrietra
4 months ago
Thanks Akil!
+1 Reply
Akil_Stokes TOP brandonrietra
4 months ago
No problem brandon!
Reply
No95TradingCo
4 months ago
Akil, at what stage would you move stops to break even?
+1 Reply
Akil_Stokes TOP No95TradingCo
4 months ago
I would roll stops to breakeven once my initial targets are achieved, or if I'm able to trail them to that level before that target is achieved
+1 Reply
I think it will go up to 107.5 before any reversal.
+1 Reply
Akil_Stokes TOP pushparajadigopula
4 months ago
Thanks for sharing your opinion. For selfish purposes, I hope it doesn't, but if it does hopefully you'll be able to catch a move at that price point.
+1 Reply
pushparajadigopula Akil_Stokes
4 months ago
I am already long on this one with limit @ 107.5. Have to see how it goes! Good luck with your counter-trend trade!
+1 Reply
Akil_Stokes TOP pushparajadigopula
4 months ago
Ahh, well then that makes us enemies..for now lol. Maybe it'll workout in a way that we'll both profit. Good luck to you as well!
+1 Reply
JayRodriguez
4 months ago
Thanks for the Analysis Akil Appreciate it
+1 Reply
Akil_Stokes TOP JayRodriguez
4 months ago
No problem Jay. Thank you for the support!
Reply
IAmAgainst
4 months ago
Hi Akil, what are your thoughts on the fact it broke the trendline without showing any change in price action?
+1 Reply
Akil_Stokes TOP IAmAgainst
4 months ago
I don't personally use trendlines in my analysis, so it wouldn't have have any impact in my outlook
Reply
Liamfeltham
4 months ago
Hard to want to short a strengthening dollar but a wreaking yen could help
+1 Reply
No95TradingCo Liamfeltham
4 months ago
Dollar index looks like potentially a false breakout out of the channel and might callabse on itself, definitely something to watch closely over the coming weeks
Reply
Akil_Stokes TOP Liamfeltham
4 months ago
True it can be difficult sometimes, however as a technical trader my job is to trade what I see on the charts and leave any other opinions/bias on the sidelines when it comes to decision making
Reply
Liamfeltham Akil_Stokes
4 months ago
I'm in on the trade, I think the dollar strength is abit fake, I think it's inevitable but smart money is trying to change things
+1 Reply
Akil_Stokes TOP Liamfeltham
4 months ago
Good luck in the trade
Reply
SbusisoDlamini
4 months ago
I would like to learn this strategy Mr Akil
+1 Reply
Akil_Stokes TOP SbusisoDlamini
4 months ago
Sure thing, shoot me an email and we can talk about that
Reply
SbusisoDlamini Akil_Stokes
3 months ago
can i have your E-MAIL address sir

+1 Reply
Akil_Stokes TOP SbusisoDlamini
3 months ago
Sure it's Akil@Tradeempowered.com
Reply
MikePips
4 months ago
This is a great setup.
+1 Reply
Akil_Stokes TOP MikePips
4 months ago
Thanks Mike
Reply
juklangel11
4 months ago
it may be pushed to test previous structure around 107.55. we had two harmonics prior to brevet, the first one saw a low of 107.55 before outside return. i'm watching for that which also falls around the d completion of brexit.
not touching fundamentals of course...
+1 Reply
juklangel11
4 months ago
now i'm watching the spots for any weakness...this thing can crater in a jiffy also..
Reply
juklangel11 juklangel11
4 months ago
i meant the spoos ....
Reply
Dguaman
4 months ago
Well im holding .. i hope that is going down sooN..
Reply
juklangel11 Dguaman
4 months ago
have a stop loss in place like Akil, otherwise hoping does not work in fx. luck to you.
Reply
Dguaman juklangel11
4 months ago
Yes Sir. I put my SL ... still waiting for a down >.<
Reply
juklangel11 Dguaman
4 months ago
great! i want confirmation through the spots, otherwise d might meet x at 110.98..which is also 1.618 from an extension prior brevet...so i have a lot of reasons to sit out till then...but i respect Akil's approach on this trade, the structure makes sense and the r r's but not for my own rules...good luck.
Reply
juklangel11 Dguaman
4 months ago
sorry for type, i meant prior to brexit.
Reply
juklangel11 juklangel11
4 months ago
i also meant typo and spoos.
Reply
Dguaman juklangel11
4 months ago
Will see whats going on , i hope doesnt break 106.82 .. do you have some view for $SILVER? thanks !
Reply
juklangel11 Dguaman
4 months ago
no sorry. i don't do spot it's either silver or gold. only six, some elf's for money flow, some blue ship cias, but a have a tight criteria to write calls or buy puts,
i'm deeply involved in carry trade such as goppy and yen from time to time, plus 13 other pairs...i do scalp, also position trade with the right leverage.
i counter trade like Akil also, but i'm not afraid to ride any solid trend.
and i cut mu losses also, but average the trade if i see coming my way in the future, good luck to you!
Reply
Dguaman juklangel11
4 months ago
Thanks Sir.
Reply
Walentine
4 months ago
stoploss 1 hit!
+1 Reply
Dguaman Walentine
4 months ago
it doesnt..
Reply
Akil_Stokes TOP Walentine
4 months ago
The stop loss is above previous structure highs,
Reply
petery Akil_Stokes
4 months ago
A question for educational purposes. Is the strategy invalidated once the price breaks the previous high/low (Point X) in these patterns?
+1 Reply
Akil_Stokes TOP petery
4 months ago
They Petery, you are correct
Reply
agentkatoon
4 months ago
hey akil, will you try to reshort again or move on to another pairs?
+1 Reply
Akil_Stokes TOP agentkatoon
4 months ago
I'll only look to reshort once another valid trading opportunity becomes available, maybe I'll talk about it in tonight's video depending on what price does intraday
Reply
Elvis.Deonarine
4 months ago
Sorry that happened. are your exits still valid ???
i followed your post but used a higher stop loss because i got in late.
i am thinking about joining trade empowered next month. i am a newbie

+1 Reply
Akil_Stokes TOP Elvis.Deonarine
4 months ago
Hey Elvis, we'd love to work you. Hopefully I'll be able to in the near future. Also I'm not sure what you mean when you ask "are my exits still valid?"
Reply
Elvis.Deonarine Elvis.Deonarine
4 months ago
I based my trade on the attached analysis
please give feedback on any improvements

snapshot


Reply
Jorahu
4 months ago
sad man, I held fortunately. Was a great call. Market makers kept pushing all sl's ...
+1 Reply
Akil_Stokes TOP Jorahu
4 months ago
Yup it happens, stinks when it does, but it wasn't the first time and darn sure won't be the last
Reply
taraksias
4 months ago
initially i had my SL at 107.220 but as the price moved up i decided to adjust it to 107.900 to avoid the stoppage. I dont usually do this, since i prefer to stick to my plan, but i only adjusted it because i could fit in more risk according to my trading plan. Now i have set it back to 107.220
+1 Reply
Akil_Stokes TOP taraksias
4 months ago
I'm glad to hear that you're still in the trade, but I can't give any congrats for breaking the rules of your plan. It may have short term benefits but in the longer run that can turn into a very dangerous habit based off personal experience
+1 Reply
taraksias Akil_Stokes
4 months ago
Thanks for the reply Akil. I hear you... thank you for the guidance
+1 Reply
Akil_Stokes TOP taraksias
4 months ago
No problem Taraksias
Reply
johnmad PRO
4 months ago
I waited for the 107 mark and went short at 106,95 with a bit of a sweat after my target was hit , now waiting for that 2618 for a re sell
snapshot
Reply
Akil_Stokes TOP
4 months ago
I'll be including the walkthrough and thought process for why i took this trade in today's Weekend Review video Just youtube search "TradeEmpoweredFX"
+1 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