Hi, I'm Chris Capre, founder of 2ndSkiesForex. I'm a verified profitable trader and trading mentor. As a professional trader, I specialize in trading Price Action and the Ichimoku cloud. As a trading mentor, I have one goal: to change the way you think, trade and perform using 18 years of trading experience and cutting edge neuroscience to wire your brain for successful trading. Want to improve your trading edge and mindset? Check out my trading courses here.
Live Price Action Trades of the Week | Jan 18th
We are back with our trades of the week article, highlighting some of the more skilled trades from students in our price action course.
This time we are featuring setups on both the 4hr time frames, along with some intra-day setups. The top winner goes to a newer student who aggressively attacked an uptrend going on a winning streak, buying at several points along the way. This style of trading when done correctly could give more profits in a single session then a daily chart trader could grab in a month simply through pure quantity. This is why it’s important to understand the difference between quality and quantity in trading, as it’s not a one sided equation.
Here are the trades below.
Looking at the chart above, we can see the green arrows showing their entry and exit. They spotted a corrective pullback following an impulsive move, and felt confident the trend would continue. So they traded with the trend, and the market only went a little negative before heading for their target. This trade was on the 4hr chart so they showed some patience, but with less than a 600 pip stop, they captured over 4R so congrats to them.
Here they are trading a breakout pullback setup on the 5m chart for the EURUSD. As you can see, price action works on all time frames when you have the training, understanding and skill. In both trades, they hit 2R returns with one trade having a 10 pip stop, and the other a 7 pip stop. The second trade they used the 20ema and dynamic resistance to attack a second time what they spotted as a bearish move. Fine trading here.
In the chart above, each red box represents their exit and profit on their plays. Here they are trading with the trend, and attacking the trend as they read the price action correctly it will continue. They buy on 6 pullbacks along the way, with each trade grabbing over +2R per trade, and ending up with +3395 pips, all on the 30m chart! In 4 out of the 6 trades, they exited at or close to the high of that swing. Some excellent all around trading here.
Keep in mind, if you are trading the daily chart, at an avg. of 2 trades per week, you’d have to wait three weeks (hitting every trade) with +2R per trade to equal what they did in 3 days.
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