Intraday Forex Price Action Setup – AUDUSD | Oct. 25th

Hello Traders,

Just wanted to share with you a price action trade I took earlier in the day on the AUDUSD, snagging 51.8pips on the play with a stop of less than 10pips.  It ended up working out well since the top for the day was literally less than a few mins after taking profit.

forex price action trading learn to trade the market 2ndskiesforex.com oct 25th

Good setups like these show up daily if you have a trained eye.  I recently read a post whereby their 2-to-1 reward to risk trade finally came into profit after two weeks 😮

Why in the world would you wait two weeks for a trade to hit its profit when it’s a simple 2x reward play?  If you are risking 1% of your account, you still only made the same amount of money as someone waiting a handful of hours, or even a day.  Waiting two weeks for the same % gain is ridiculous and a complete waste of your time, especially when you can find that every day.

Sure, patience is a virtue in trading, but wasting time is not!  So don’t think you have to wait around for days, or even weeks to find quality 2x reward plays, because you don’t.  They happen every day if you learn to spot them.

When you learn how to trade price action, you can spot these great setups daily, making a good profit, then moving on to another.  I hope you found this post useful and welcome your comments.

Kind Regards,
Chris

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Buddhist, Trader and Philanthropist

I'm Chris Capre, Founder of 2ndSkiesForex. I help traders of all levels change the way they think, trade and perform. As a professional trader, I specialize in trading price action. As a teacher, my passion lies in showing you how to re-wire your brain for successful trading. Want to improve your edge right now? Visit my Price Action Course page.

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  • Gabriel

    Hey, Chris.

    Interesting you mentioned this trade today. I saw a setup with the engulfing bar that started exactly at 00:00 GMT. I’ve noticed that reversals or setups often occur around that time. I’m guessing it’s when the asian session opens.

    When you get the time, I’ve also posted an AUD/USD setup for you to comment on in the Kijun ATR Cross section on the Ichimoku course forum.

    Thanks.

    • Hello Gabriel,

      Sure thing, will check out your post shortly.

      I’ll also be doing a new video in the Price Action Course about some recent setups I took, breaking them down step by step, along with a new video coming soon on Ichimoku Price Theory so stuff coming down the pipeline shortly.

      Kind Regards,
      Chris

  • Gabriel

    Great to hear it! Always glad to learn new stuff in your courses.

  • Amis

    Hello Chris,
    It is a Picture perfect trade.Superb!!! I was wondering what made you take profit at that level ?

    Thanks

    • Hello Amis,

      That is information from the course which I could not share but you are welcome to join.

      But thanks for the kind words on the trade. Sometimes things just go right.

      Kind Regards,
      Chris

  • Alpesh

    Hi Chris,

    Couple of questions. Is this a rules based trade meaning is this system mechanical and is it easy to make decisions or is there alot of analysis and discretion that a trader needs to apply. What I mean is that would two traders or more following the same system identfy the same setup. Thanks

    • Hello Alpesh,

      Almost all my Price Action Systems are rule-based, with clear rules for the entry, exit, stops, limits, taking profits – everything.
      So in many cases, my students not only see but take the same trade.

      I do have a few systems which require a little analysis, but even then they are rule based and you are looking for specific variables.
      And even then, many students with slightly different analytical skills find the same setups and trades.

      So hopefully that gives you some idea of what I teach.

      Thoughts?

      Kind Regards,
      Chris

      • Alpesh

        Hi Chris,
        Thanks for your reply.
        Please advis eon which course to begin with. My personality is such that I prefer a system with R:R of > then 2:1. I also would like the guesswork to be taken out so that I can enter a trade with confidence when conditions are met and no seocnd thinking or doubting. Please adivse. Thanks

        Alpesh

      • Hello Alpesh,

        There are a lot of systems in the Price Action Course with R:R’s of over 2:1. I’ve seen some setups by students with 7 or 9+:1 R:R’s.
        Examples would be our 3P HLR, our 6NT setup, our specific Breakout Play, all of these and more have 2+ R:R’s.

        And all the systems are completely rule-based to eliminate the guesswork, as all the rules for entries, exits, stops, limits, taking profits, etc. are all there so there is no second guessing or thinking.

        Hopefully this gives you a clear path forward.

        Thoughts?

        Kind Regards,
        Chris