Live Price Action Trades of the Week – Feb 1st (Chinese New Year Edition)
Happy Chinese New Year to all, especially to my large community in the East! May the year of the Wood Horse bring you good fortune, health and joy.
Here we have another edition of our live price action trades from our students, trading across a range of time frames, from the higher time frames like the daily and 4hr chart strategies, to the intra-day charts.
In the chart above, our student here tracks a corrective move into a key level, correctly identifying who’s in control and where to short. The trade barely goes negative against them, and then impulsively sells off demonstrating the bears are still in control, nailing the direction and a good trade location.
In this chart, the student aptly spots a future breakout scenario using our pre-breakout characteristics, finding an entry right when the momentum push is about to begin on the 1hr chart. They hold the trade for about 8 hours, capturing over +120 pips and +4R.
Here the trader correctly spots a consolidation pullback setup with the bulls taking over before another impulsive leg up. They captured over +100 pips in less than a day and over +3.5R on the 1hr chart.
On this last trade, here the trader took a great breakout pullback setup on a key role reversal level, with the trade instantly going positive. They exited on the next consolidation as the momentum waned, using only a 30 pip stop, and grabbing over +3R.
Now as you might have noticed, these last three charts look similar. That is because they are all from the same trader who is one of our most recent additions over the last 6 months. In one week, they made over +10R across three trades, all from trading the 1hr chart.
After a few months of study and hard work, they did more in one week then most daily chart traders alone do in a few months. Food for thought, but this is the kind of trading you can do with the right training, methods and skills to read and trade price action.
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