Live Price Action Trades of the Week Aug 9th
We had so many contenders for the price action trades of the week, that considering I was on travel last week and could not publish, I thought I’d share several more this week as there were some excellent trades, with the top trade going to an 11R return!
The trades were a combination of intraday trades, along with set-and-forget type strategies on the 4hr and daily charts, so quite a range. Keep in mind, what you are seeing is straight from the brokers charts, where they show the exact entry and exit – not some made up lines of where they say they got in, but where they actually got in and how they traded it.
For MT4, it shows the arrows that represent the entry and exit with a dotted line between them. You’ll also see a small red line for the stop, and a small blue line for the target.
For FXCM’s TS2 charts, you’ll see a green arrow with the entry and exit
So here they are in no particular order, except the best one for last.
Not bad for a students first trade where others were talking about how they were waiting for sell signals in this trend, our systems were spotting buy setups and catching the reversal, which this student did quite well.
Excellent trading and confidence of the student here. They see the market is falling, enter, and get stopped out for 10 pips (no bid deal – they trust their read and skillset).
They then re-enter as the market offers them a second setup with a <10 pip stop, grabbing +55 pips in under 40 minutes for a +5R trade. Keep in mind for those who subscribe to the ‘only good signals on the daily chart‘ motto, you would have needed to get a 500 pip winner on a 100 pip stop just to equal his one winner! How many days you think it would take you to get that?
Meanwhile, in 40 minutes, this trader outperformed you and either has the rest of the day to take off, or find other quality trades and make more money.
One of our newer traders who spotted a good with trend setup on the 4hr chart. Nice trade snagging +51.2 pips in less than a day using our set and forget strategies.
Great role reversal setup at a key level. Even though it was only +40.2 pips, its the tight stop that allowed them to capture a 3R trade.
Can you spot the setup on this one? Tis a tricky one, but they isolated a good counter-trend impulsive setup capturing +100 pips in less than 10hrs.
Another excellent spot catching an intraday reversal and subsequent bottom in the Aussie which was trending strongly. They picked up the scent that it was about to reverse, catching a nice counter-trend impulsive move, banking +4R in a few hours. Did you spot this reversal in the AUDUSD and make money off of it?
Using one of our intraday reversal setups this trader spotted on the 5m chart, they grabbed +100 pts and over +3R In less than a couple hours. Excellent trading.
Simple range play at a key level, but a really tight stop of 15 pips gave this trade a virtual 6R return. On a daily chart setup, you’d need to have a 100 pip stop and 600 pip target just to equal this type of return.
This was a great setup using one of our intraday ichimoku systems that captured the first target quickly, moved stop to BE (breakeven), then rode the next impulsive leg down for +150 pips on the 2nd target, so some excellent work here.
How does this not make the top trade of the week? Using one of our price action systems, one of our newer students named Darren Espinosa spotted an excellent with trend opportunity, using a tight 24 pip stop, riding the pair down for +260 pips and over 11R return on their trade!!! Fantastic trading and ability to read the price action in real time to hold the trade for a large winner.
As you can see, it is a complete myth only good price action setups happen on the higher time frames. They happen on any time frame for those who are trained and with eyes to see the setups. Anyone telling you to only trade higher time frames doesn’t understand price action, or how to trade it because good setups are not limited to the time frame. They are limited to one’s ability to see high quality setups which occur on every time frame.
This is something my students have discovered, that when one learns the skills and methods to read the price action, you can trade any time frame.
Ask yourself how many good setups did you see and trade this week, especially if you were just trading the 4hr time frames and higher? As you can see, you missed a ton of high quality setups (and there were many more) happening on the same charts in front of you. Food for thought, but if you are sitting around for days, you are not getting better, and you are not making money.
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