Live Price Action Trades June 2014
Due to travel, World Cup and a few unexpected events, we were posting less of these, but are back now in full with the prior cycle over.
The month of June showed long periods of small contracted moves of with low volatility, followed by big one day moves, only to continue that with more small moves, making it tricky for traders. Yet despite all this, our members continued to find good trade opportunities across all time frames.
Here are several trades below, with the students finding trade opportunities you would not find with traditional 1-2 bar price action patterns alone.
Trading with the trend, here the student found a key level the market had been testing, and noticed a breakout was likely based on the price action context leading up to it. They bought after the breakout, and held till the market hit a key resistance over +150 pips above, so well done on their part. I think they could have gotten away with a tighter stop, and thus increased their overall R, but still a good trade and discipline, holding to their target capturing +2R.
Trade Setup #2: Breakout Pullback Setup to a Role Reversal Level for +103 Pips & +3.8R
Here again the student is trading with the dominant trend, whereby they found a great breakout pullback setup to a role reversal level. Their trade never went in the negative, and they almost called the top pip of their candle, grabbing +103 pips while having a 27 pip stop, for a +3.8R! Excellent trading here.
Here our student aptly spotted a reversal situation using our 3P HLR setup on the 5m chart. Having only a 10 pip stop, they grabbed a +23.7 pip move for +2.3R in a few hours. Great trading here as their stop was never really under threat.
Here the student used a combination of our Ichimoku Systems + our Price Action Methods to get into the WTI Crude Oil move before the breakout. Just before the market based on a corrective pullback, they spotted a good with trend setup, that grabbed +322 points for +2.5R, taking profit close to the recent highs, so great trading all around.
Using our FPB + false break setup, this student found a great entry at the dynamic support, having only a 10 pip stop (really tight). Their precision and patience payed off, as the trade never went more than 2-3 pips negative, and then rocketed higher for +179 pips, grabbing an astounding +17.9R!
To put this into context, if you had a 100 pip stop, you’d need +1790 pips to gain the same amount they did, yet this trade only took them 1.5 days. Keep in mind, there was no pin bar, or engulfing bar, or any price action pattern setup here. They were trading the price action context in real time, so any pure pattern trader would have missed this setup completely. Food for thought if you are a pure price action 1-2 bar pattern trader.
As my students demonstrate again and again, high quality price action setups occur on any time frame. They are not restricted to the higher time frames only, as they understand there are good live price action trades on all time frames – you just need the proper training to spot them.
Ask yourself – how many of these trades did you spot? How many of these opportunities would you have traded if you are only trading pure 1-2 bar price action patterns? Do you feel your skill set in price action is limited, or can you trade on all time frames?
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