Akil_Stokes
Short

USDJPY: Structure/Advanced Pattern Formation Short

FX:USDJPY   U.S. Dollar/Japanese Yen
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
http://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)



Trade active
Trade closed: stop reached: Stopped out right before the downward move. Always stinks when that happens
This MASSIVE DISCOUNT ends in a few days http://buff.ly/2tngsBV

FREE Training Lessons & Workshops http://buff.ly/2udJgeT

Follow My Journey & Recieve Daily Trading Tips- The Trading Blog Video - http://buff.ly/2v58xWu



What do you know, the exact same entry level :D
snapshot
+1 Reply
Akil_Stokes PRO Nico.Muselle
Well done Nico!!
+1 Reply
TomPower Akil_Stokes
Come on guys do you really think these make-believe patterns work
+2 Reply
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
You're a smart man. Good job you and Jason!
+1 Reply
Akil_Stokes PRO albertokundaye5
Thank you!
Reply
look
USDJPY Diario Short
+1 Reply
what harmonic pattern is this good sir?
+2 Reply
Akil_Stokes PRO gadzmustbecrazy
He's looking at a CYpher formation
Reply
Nice, great recognition there Paloeac!! Heck of a risk to reward ratio you have as well. Good job man
Reply
gadzmustbecrazy Akil_Stokes
would that still be a valid cypher pattern even if point C is way past 113%-141%?
+1 Reply
Akil_Stokes PRO gadzmustbecrazy
Yes
Reply
gadzmustbecrazy Akil_Stokes
ty for that tip. Ty sir :-)
+1 Reply
Akil_Stokes PRO gadzmustbecrazy
No problem
Reply
Thank you Akil!
+1 Reply
Akil_Stokes PRO Elliot_Myers
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
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
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
Looks promising Akil
+1 Reply
Thank you Technician, I appreciate the comment
Reply
Watching the top of the channel as well as RSI to post Negative Divergence
snapshot
+3 Reply
Let's see if we get any follow through with this one
Reply
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
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
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
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
Good point! Good luck man!
+1 Reply
Thanks same to you.
Reply
Thanks Akil!
+1 Reply
Akil_Stokes PRO brandonrietra
No problem brandon!
Reply
Akil, at what stage would you move stops to break even?
+1 Reply
Akil_Stokes PRO No95TradingCo
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 PRO pushparajadigopula
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
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 PRO pushparajadigopula
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
Thanks for the Analysis Akil Appreciate it
+1 Reply
Akil_Stokes PRO JayRodriguez
No problem Jay. Thank you for the support!
Reply
Hi Akil, what are your thoughts on the fact it broke the trendline without showing any change in price action?
+1 Reply
I don't personally use trendlines in my analysis, so it wouldn't have have any impact in my outlook
Reply
Hard to want to short a strengthening dollar but a wreaking yen could help
+1 Reply
No95TradingCo Liamfeltham
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 PRO Liamfeltham
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
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 PRO Liamfeltham
Good luck in the trade
Reply
I would like to learn this strategy Mr Akil
+1 Reply
Akil_Stokes PRO SbusisoDlamini
Sure thing, shoot me an email and we can talk about that
Reply
SbusisoDlamini Akil_Stokes
can i have your E-MAIL address sir

+1 Reply
Akil_Stokes PRO SbusisoDlamini
Sure it's Akil@Tradeempowered.com
Reply
This is a great setup.
+1 Reply
Thanks Mike
Reply
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
now i'm watching the spots for any weakness...this thing can crater in a jiffy also..
Reply
juklangel11 juklangel11
i meant the spoos ....
Reply
Well im holding .. i hope that is going down sooN..
Reply
have a stop loss in place like Akil, otherwise hoping does not work in fx. luck to you.
Reply
Dguaman juklangel11
Yes Sir. I put my SL ... still waiting for a down >.<
Reply
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
sorry for type, i meant prior to brexit.
Reply
juklangel11 juklangel11
i also meant typo and spoos.
Reply
Dguaman juklangel11
Will see whats going on , i hope doesnt break 106.82 .. do you have some view for $SILVER? thanks !
Reply
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
Thanks Sir.
Reply
stoploss 1 hit!
+1 Reply
Dguaman Walentine
it doesnt..
Reply
The stop loss is above previous structure highs,
Reply
petery PRO Akil_Stokes
A question for educational purposes. Is the strategy invalidated once the price breaks the previous high/low (Point X) in these patterns?
+1 Reply
They Petery, you are correct
Reply
hey akil, will you try to reshort again or move on to another pairs?
+1 Reply
Akil_Stokes PRO agentkatoon
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
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 PRO Elvis.Deonarine
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
I based my trade on the attached analysis
please give feedback on any improvements

snapshot


Reply
sad man, I held fortunately. Was a great call. Market makers kept pushing all sl's ...
+1 Reply
Yup it happens, stinks when it does, but it wasn't the first time and darn sure won't be the last
Reply
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
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
Thanks for the reply Akil. I hear you... thank you for the guidance
+1 Reply
No problem Taraksias
Reply
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
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
United States
United Kingdom
India
España
France
Italia
Polska
Brasil
Россия
Türkiye
Indonesia
日本
한국
Home Stock Screener Forex Signal Finder 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 Account and Billing Sign Out