Trading Course
Video

Big Figure Price Action Trading

14 Lessons Intermediate

About this course

This course is for traders that already have intermediate knowledge on Price Action Trading and/or have completed the Mastering EURUSD course.

If you are new to trading this course is not for you, and we recommend you to start with our FREE course 'Intro to Price Action Trading' instead

Start Course

Course Structure

1. Big Figure Welcome video

Welcome traders to the Big Figure Traders Course. This course will give you a deep understanding about this trade and how you can apply it to your trading lifestyle. When you combine this course with the trade examples and the interaction available within the Facebook private group, you should have this trading concept mastered and making you pips in a short period of time.

Thank you and congratulations with your trading commitment.

The Trade & Trade Management

Whenever you take on any trade you must know exactly what you are looking for before it happens. Knowing the trade and setting our stop levels is discussed in this video.

Trade management concept is paramount to the success of the Big Figure trade. WE follow a very set process when it comes to managing this trade.

Price Action Part A

Your level of understanding price action and trade management will determine the success you have or do not have when it comes to trading the Big Figure.

We explain to you the price action basics. This will assist you when it comes to taking a trade at the big Figure or simply passing on the opportunity.

Price Action Part B

Price delivery which means how price arrives into our key level is one of the biggest considerations when trading price action. We look for price to run into the big Figure based on certain price characteristics. This will help us to identify which trades we want to take or leave.

Other useful tools

Price action leading into the Big Figure is our number one tool however, there are a few other tools that are available that we can combine to make our life easier.

The goal is to identify the best trade set-ups and to identify the less likely trade situations. These tools will help us to achieve both.

Characteristics for selected pairs

Each pair has its own personality. The more you trade a pair, the more likely you will get to know its inner characteristics. Much like a person, the more time you spend with them, the more you understand how they will respond or react under certain situations.

Currency pairs will respond and react off the Big Figure based on their personality. This helps us with our trade selection, trade entries and trade management.

Trade Recap – 1 AUDJPY

We show you how we quickly preview many currency pairs and the thinking behind the price action until we finally find a pair that we are interested in trading.

In this instance we trade AUDJPY long at 73.00 Big Figure.

Trade Recap – 2 AUDJPY & Session Review

A review from the previous LNY session price action. We break down the AUDJPY price action and the trades we missed due to caution.

Reference points get created as the trading week rolls out. The previous session had a range of regions with bank holidays. The holidays will create a low liquidity state, which we need to be cautious.

Trade Recap- 3 EURAUD

Many Big Figure trades you will decided not to enter based on price action, news and other various reasons. Many of the missed trades work out extremely well but we want to get the best of the best trade set-ups and try not to over trade.

Here we review a missed trade at 1.6400 for EURAUD pair.

Trade Recap- Recap 4 AUDCHF

Most days we should be able to eye off a few currency pairs that are near to a big Figure level. Once identified, we need to observe price delivery into the level.

AUDCHF had some nice price action that allowed us to take the trade and manage the response.

Trade Recap – Recap 5 AUDCAD & Brexit

A possible Brexit agreement moved all currency pairs into a mood of risk-on. When these flows and volatility hits the market we find the personality for most trades becomes more expressed.

We rather see price action and movements to be on the dull side meaning, moving but not going crazy.

We still found one opportunity within the given environment. AUDCAD sell 0.9000 Big Figure

Trade Recap- Recap 6 Weekly Review

Reflecting back on some of the trades taken and missed. Many trades will be rejected and this will be based on your appetite for risk. Reflecting back, reinforces the simple fact that the Big Figure almost always means business.

Trade Recap- Recap 7 USDCAD & NZDUSD

Both trades listed worked out well enough to offer a manageable response off the big figures.

Both had obvious considerations before entering.

USDCAD had a federal election on the day and we know how much political situations can upset currencies. In the end, the election did not move the CAD in either direction.

NZDUSD hit a fresh big figure during the Asian Monday session during a low liquidity state. These three factors must be considered before entering the trade. Once again the Big Figure gave back enough to manage the trade however the situation is not ideal.

Trade Recap- Recap 8 Weekly Review

Reflecting back on the Big Figure Trades from the previous week.

We had six trades that should have given you a manageable response as long as you applied the trade management protocol explained in this course.

Most entries will offer you a chance to fund the trade and to remove risk. Almost half of those trades will then potentially come back and tease your entry point.

This is why trade management and trade selection is crucial to your success.

Powered by Thrive Apprentice
Pen