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 | May 19th
During the last few weeks while pairs have been more range-bound, choppy and less active, members in our price action course have been catching some excellent moves in the market, with the top winner being a +7R trade!
In this trade, our student discovers a false break, and finds a second entry via our FPB setup (one of the strategies in my price action course). The pair almost never went negative (other than a few pips), grabbing +48 pips with a 13 pip stop, for a + 3.6R!
This trade was tricky because there was a choppy corrective bear flag the pair was in for 6 days. After breaking out of this bear flag, it retested the trend line, then resumed the impulsive selling where our student entered. Anyone looking at the 4hr or daily chart would have missed this entry as it would have looked like a false break.
They profited +53 pips in half a day, with a 15 pip stop for a +3.53R.
Getting the best second entry on a breakout pullback setup we discussed in our May 1st commentary, this student spotted an intra-day pin bar signal on the 1hr charts, whereby the pair only three hours later shot up for a +116 pip move. Having a 16 pip stop, they walked away with a +7R profit in less than 7 hours.
For those trading the daily and 4hr charts because you think those are where the A+ setups are, you’d have to capture a 700 pip winner on a 100 pip stop just to equal the return on this trade. Food for thought, but high quality signals happen on all time frames when you learn to read price action correctly.
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