Forex trading signal reviews for each week will be posted on this page.
What does it mean?
Well, if you don’t know, each weekend, I post free price action forex trading signals.
At the end of the week, I will write a forex trading signals performance review of what happened etc and you’ll see such things as:
- did price obey the setup?
- what were buy sell signals?
- how many pips did price move?
- was it a losing trade setup or would it have made money?
- charts of how price responded etc
Importance Of Forex Trading Signals Review
The main purpose of this forex trading signals review is so that you can learn and eventually be able to confidently trade price action on your own.
How can you learn? Well, you will see:
- the BEFORE
- and the AFTER of price action.
Anyone can say, “Oh, if you sold here, you can make profit of this much blah blah blah”…AFTER THE FACT (EVENT).
You can open up your mt4 chart, look up any currency pair and do that…
But can you be able to see what is happening now on your chart and be able to forecast the most likely direction of price move based on price action patterns you see forming or not?
You see, my friend, that is one of the big challenges for many traders (especially new traders) is being able to see what is happening right now (the trading setups) and prepare for what may happen.
That’s called ANTICIPATION.
Forex Trading Signal Performance Reviews For 14th-18th Nov
There were 5 forex signals given. Only 3 trade setups did happen and their performance are given below.
#1: NZDUSD Buy Trade Setup
- price did bounce up from the trendline in as you can see on the 4hr timeframe but there was too much selling pressure causing the trendline to break.
- a losing trade setup if you were aiming for a lot more than 45 pips profit if you bought.
#2: USDJPY Sell Trade Setup
- price just broke through the trendline very strongly. This was at the back of news coming out that the FED was most likely going to lift interest rate which pretty much saw the dollar rise across the pairs.
- it kind of sucks when really good price action setups get hammered when these kinds of news come out but such is the nature of forex trading.
- a losing trade setup.
#3: AUDNZD sell Trade Setup
- A winning trade setup with price making a 180 pips move down after the reversal candlestick signals was given as you can see on the chart below.
Forex Trading Signals Performance Reviews For 7th-11th November 2016
- all the charts are self explanatory.
#1: EURUSD Sell Trade Setup
#2: USDCHF Buy Trade Setup
#3: AUDUSD Sell Trade Setup
#4: NZDCAD Sell Trade Setup
Forex Signals Performance Reviews For 17th-22nd October 2016
Out of the 6 forex signals given for the period, only 5 trade setups did happen. Lets see if any of these trade setups made money or not.
#1: EURAUD Buy Setup Review
- losing trade setup.
- price just crashed through the support level
#2: GBPUSD Tripple Inside Bar Trade Setup Review
- no trade should have been activated.
- price opened on Monday below the close of the 3rd inside bar (Friday’s bar) so placing a sell stop order would not have worked including buy stop order.
#3: AUDUSD Sell Trade Setup Review
- wining trade setup.
- Price responded to the trendline as antcipated making a 120 pips move down from that trendline.
- if you switch to 4hr timeframe, you will see a bearish harami candlestick pattern, that would have been your signal to place a see stop pending order under its low and that would have been triggered making you some profits.
#4: EURCAD Buy Trade Setup Review
- winning trade setup.
- if you look closely on this setup, you’ll notice a pin bar on the daily which was a good buy signal.
- also, if you switch to a 4hr timeframe, you will also see a pin bar, which was a good buy signal.
- price responded as anticipated.
#5: USDCHF Sell Trade Setup Review
- Winning trade setup.
- if you switch to the 4hr timeframe, there was a bearish harami pattern, a good sell signal.
- also on the 1hr timeframe, there was a shooting star as well as a bearish harami pattern which were really good sell signals as well.
- notice the shooting star daily candle for Friday? This pair can move down further this week as well and the setup is still valid if you trade the breakout of the low of the shooting star candlestick.
Forex Trading Signal Performance for 10-14th October 2016
Out of the 7 trade setups given, only one setup happened on AUDNZD. Here’s the outcome you can see on the chart below. It was a losing trade setup.
Forex Trading Signals Performance Reviews 3rd-7th October 2016
Lets see if these signals made money or lost money.
Here’s the first one:
- no sell signals in the 4hr or 1hr timeframe but if you watched the daily, notice the spinning top candlestick (Thursday candle). That shows lack of upward momentum. If you placed a pending sell stop order below its low, you would have made money on this setup.
- As you can see the breakout of the low of that spinning top candlestick resulted in a price drop of about 80 pips.
- Price did bounce up from the trendline but lacked upward momentum. There was a buy signal in the 1hr and price moved up to about 40 pips before reversing.
- if you were aiming for a lot more profit than 40 pips, this would have been a losing trade.
- no sell signals in the daily, 4hr and 1hr.
- no reason to do a sell trade at all.
- bullish candlesticks signals can be seen in the 1hr and 4hr timeframes as well as the daily but price did not have the upward momentum and the support was broken.
- losing trade setup.
- bullish reversal candlestick signals were generated in the 4hr and 1hr timeframes but that was not enough.
- The FED talk about increasing rates made price crash through the 1300 level which was a major support level.
- losing trade setup.
Forex Trading Signals Performance Reviews For 26th-30th September 2016
- this is what the outcome of the sell signal in EURUSD looks like on the daily.
- it doesn’t look appealing at all
- but what happens when you switch to a 1hr tiemframe?
This is the sell signal in the 1hr timeframe? Notice the doji candlestick pattern at the touch of the trendline?
Trading the breakout of its low would have made you money right away as price just went down right after that without hanging around in that sell zone.