The following is the weekly review for the forex strategies covered in the EURUSD Day Trading Course.
Below are the charts highlighting the patterns that occurred during the week, as well as comments on the price action of the day and how that affects our trading decisions.
These strategies can be traded anytime during the London session and up till about noon EST.
Most days I trade from about 830 to 10 EST.
My charts are MST (EST minus 2 hours).
These strategies are based on a 1-minute chart.
This week I took a number of trades that aren’t specifically covered in the course, but that are based on the same concepts.
I’ll quickly explain those concepts, but primarily I just wanted to show that you can expand on these strategies and build a larger arsenal of strategies to capitalize on the movements that typically occur in the EURUSD. For myself, I don’t even think of them as different strategies, they are all based on price action concepts.
EURUSD Day Trading Strategy Review
The EURUSD is seeing generally higher daily volatility than it was a few months ago. With bigger trending moves happening during the day, I was eager to capitalize.
I also realized that I had been limiting my own trading to the strategies covered in the course…mainly to not confuse anyone who was monitoring my charts and working through the course.
I decided that was dumb because I have been missing out on massive profits the last couple of years and others are missing out on seeing some additional entry methods. So I decided to focus on my trading first and do what I do. I will try to provide insights where I can on the entry methods that are not covered in the course.
April 25, above, was just normal trades covered in the course. Good potential with those.
There was more profit opportunity if using the concepts discussed below.
April 26, above, was a slightly profitable day using the strategies covered in the course. It would have been another very profitable day using the concepts discussed below.
April 27 is where I started to let loose with my trading (in a good way) and wasn’t limiting myself to only the strategies discussed in the course. If there was a trend, I would let the pullback unfold and then enter trades as the price started moving back in the trending direction.
This is like the right side of a rounded top (for downtrend) or rounded bottom (for uptrend). But instead of slowing in the RT and RB, we have the trend to provide us our context for the trade.
Same thing on the 28th above. Once there is evidence of a trend, I am entering on the pullback as the price starts moving in the trending direction again. We also just have some classic setups from the course. Good day either way.
Friday was an active day for me. Nice trend to start and then a range developed. Another very profitable day. If using only the entry methods covered in the course, then it was a quiet day because there weren’t many of those setups.
EURUSD Day Trading Strategies Results
Here are the charts and trades (mostly only EURUSD Day Trading Course entry methods) for the last 13 months, with actual entries and exits marked.
These links are a gold mine. Hundreds of marked-up charts. If you’re struggling, go through all of them, and take notes.
- January 2021: +63R potential
- February 2021: +78R potential
- March 2021: +76R potential
- April 2021: +76R potential
- May 2021: +94R potential
- June 2021: +91R potential
- July 2021: +67R potential
- August 2021: +38R potential
- September 2021: +51R potential
- October 2021: +46R potential
- November 2021: +48R potential
- December 2021: +53R potential
- January 2022: +39R potential
“R” in trading is a standardized risk amount. It could be 1% of the account, 0.5% of the account, or any amount you choose based on your position sizing method.
In other words, if risking 1% of the account per trade, 45R means a 45% profit. If risking 0.5% per trade, it means a 22.5% profit.
Want to learn how to trade like this? The EURUSD Day Trading Course covers strategies for crushing the EURUSD in two hours or less, as well as mental game work and exercises to get in the profit-making zone and stay there.
By Cory Mitchell, CMT
Disclaimer: Nothing in this article is personal investment advice, or advice to buy or sell anything. Trading is risky and can result in substantial losses, even more than deposited if using leverage.