Live Price Action Trades of the Week | Oct 19th
While undoubtedly the markets were volatile, and there was an air of uncertainty from the US Gov’t shutdown, there were definitely a lot of trade opportunities over the last few weeks, with some really solid price action setups that our traders scooped up throughout the week. Here are just a few of them below;
Using our pre-breakout pattern recognition, this trader using the 5m chart on the EURJPY spotted a really good setup grabbing a pre-breakout entry on the pair before it within 5 minutes later, moved into the green and within 10 minutes took off for a quick breakout and over 2.5R setup.
Spotting a good pullback setup in the NZDUSD, this trader found a good with trend entry, holding through a pullback against their trade, and riding it out as it quickly reversed and went positive hitting their target within a day for a quick 2R trade.
Here the trader correctly anticipated a breakout via an accumulation price action pattern. Using less than a 8 pip stop, they grabbed a 2R trade in a few hours as the pair held their entry 2x before rocketing up in their favor.
Here is an excellent trade off a key role reversal level, trading with trend and capturing over 90% of the breakout move. It should be noted he did this with ~25 pip stop, grabbing over 6.5R. For those trading the daily time frames and only a few times a week, to match this performance, you would either need a 650 pip winner with a 100 pip stop (how many of those come by?), or at least back to back 325 pip winners with 100 pip stops (still less likely). Yet our students find trades like this week-in-week-out.
Excellent trading indeed by one of our top traders and definitely top trade for the week.
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