Forex Price Action Trades of the Week | Apr 12th
Over these last two weeks, we had a lot of contenders (too many) for our trades of the week article. Using both sets of weapons, we had forex price action, and ichimoku trading strategies that profited heavily this week.
Our top winner was a fantastic trade capturing +345 pips on the GBPJPY for +3.83R!
Here the student aptly caught a breakout before it cleared the key level. They spotted the momentum build-up and price action squeeze, along with the strong breakout bars, suggesting the pair was forming a breakout.
They took three trades, the first prior to the major breakout, while adding two more positions after the level was cleared. Taking profit at three different points, their average winner was for +2.1R, so some excellent trading all around.
Here one of our senior members spotted a change in the momentum and price action, suggesting the USDJPY was going to reverse.
After the first pin bar formed, they waited as they realized it would fail. It did, and was followed by a second pin bar, which they realized would be a profitable signal, for +2R.
Holding through the news, the trader had a well placed stop, exiting at a consolidation/basing area for +2.83R in about 1 day.
While the GBPJPY was consolidating in a choppy 150 pip range, this student spotted a change in the price action, suggesting a major swing move was about to happen. Using one of our ichimoku trading strategies, they captured over 85% of the huge bullish move.
The result was a massive +345 pip winner capturing just under 4R!
Well trained traders make money across all time frames.
So ask yourself, were you sitting around for days, not trading anything, missing high quality setups over the last two weeks? Or were you highly engaged, trading high probability setups and making lots of profits in the process?
About the Author: Chris Capre is a professional trader who specializes in trading price action & Ichimoku. His blog attracts 150,000+ monthly readers across 110+ countries, including; Australia, USA, Singapore, UK, Canada, & Germany. To discover more about Chris’s Price Action Strategies, visit his Forex Trading Course page.
Want More? My private members get all my trade ideas & market commentary up to 3x per week. Click here to become a member.
Want to Learn Price Action Strategies for Trading Forex?
Sign Up for our Monthly Newsletter and Get our FREE E-Book