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

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