Price Action – Live Trade Setups of the Week | May 24th
Happy Memorial Day Weekend to All!
This week traders in our price action course did an excellent job staying quite active this week finding profitable trades across all time frames.
The top live trade setup for this week was a +5.2R on the USDJPY.
Here the student found a great breakout pullback setup without using any blind entry, just reading the price action context correctly. With a well placed stop, they endured a small pullback, then hit both their targets on their two positions, grabbing 1.5R on the first lot, and 2.7R on the second lot, showing great patience.
Here the student used our FPB setup in our advanced price action course to capture a great leg up on a reversal. Having only a 25 pip stop, this student grabbed +93 pips for +3.72R in about a day, only 10 pips shy of the top!
An impressive trade whereby the student aptly spotted a climactic price action sell off, observed the bulls were taking control, and catching +52 pips on the 5m intra-day chart using only a 10 pip stop! Impressive trading indeed by one of our senior traders.
Ask yourself did you spot this climactic sell-off in the USDJPY, and trade it making +5.2R? Or were you sitting around looking for basic 1-2 bar price action patterns sitting on the sidelines?
Were you only trading on the daily and 4hr charts, or are you able to profit on all time frames?
Remember, there is no utopia of time frames where all the high quality signals exist. Properly trained price action traders realize good signals occur on all time frames.
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