See my H6 Chart Trades in Action

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#543: See my H6 Chart Trades in Action

In this video:

00:27 – Trades that I’ve taken on the H6 charts this week.

01:02 – Why I traded the STOXX50 Index.

02:25 – Sell trade on the USD/MXN. 

03:09 – EUR/MZN H6 trade makes profit.

04:41 – Last trade on the GBP/CAD.

05:29 – Low risk and high Reward:Risk trades.

06:50 – Trade through Blueberry Markets.

07:08 – Attend my Masterclass, Prop Firm webinar and book a call with us.   

Today, I'm going to share with you some six hour chart trades that we've taken just this week, some winning trades and some losing trades. Let's get into that and more right now.

Hi there, Traders! It's Andrew Mitchem here at the Forex Trading Coach with video and podcast number 543.

Trades that I’ve taken on the H6 charts this week.

I want to share with you some trades that I've taken just this week on six hour chart trades across different markets and different forex pairs. I'm going to explain why I've taken these trades and to give you an understanding of how we trade.

Now just to let you know also that when we trade at the Forex Trading Coach, our charts are a little bit different to this. I have some candle identifier software, pivot points, divergence, etc. on top. But what I've done for the purpose of this video podcast, I've stripped everything and so you can just see the actual candle patterns and the price.

Why I traded the STOXX50 Index.

So let's start here with the STOXX50, which is a European index. So we also trade non forex markets if the pattern show. And so you can see my trade in here. This is a six hour chart trade. It was taken on the completion of this candle here. And if you look at the first two results down here, you can see that one just got stopped out and the other went down to the profit target.

So what is it we're looking at here? Well, first of all, we have a lovely downtrend in play and then a reversal, By the way, we took this trade, is a buy trade last week. But this pulled back beautifully. And then we saw the continuation pattern heading down in a nice trend line break up through here at this candle closed below that trend line break we had a nice “n” shape that we look for and we actually bounced off a middle bollinger band.

We had a few other things adding to the trade but you can see in here my two entry levels and this mentioned the first position just got stopped out, the second position. Then price fell beautifully. So our profit target, which by the way, was before the 5000 level and before us swing low. So that was the at the first trade there.

Now we take multiple trades throughout each day and each week on our membership site and on my forum site. And so these trades were all posted there.

Sell trade on the USD/MXN. 

The next trade I want to share with you is the next one down here. You can see the sell trade on the USD/MXN. And this trade just got stopped out on the completion of this candle. The price went down and I ended up closing the trade early. You can see there's a couple losing trades there and I got out of that trade in plenty of time after a loss, a small loss, a control loss of one position, small loss on the other.

But overall, my logic for the trade was we were in a downtrend pullback and then we had this continuation pattern here looking for this to down. So a small loss taken there.

EUR/MZN H6 trade makes profit.

However, the next trade was taken at exactly the same time is on the EUR/MXN and that's in here. And you can see we had a very similar pattern but probably a stronger pattern there.

Overall, we were in this big downtrend, nice pullback, and then we got the confirmation to go short.