8 Free Forex Trading Signals For Mar 13 – March 17 2017
Sorry for the late update. Got hit with a stomach bug last night and I got totally wiped out.
Keep in mind this is FOMC week so we may see muted price action until it’s released. Being swing traders, we don’t get kicked around as much during releases but you have to be aware of them.
I was asked if I take all the trades that set up. The answer is no. As a risk manager first, you certainly want to keep a sharp eye on overall portfolio risk especially when some currency pairs react in tandem.
What happened last week?
EURGBP – Price broke resistance and rallied 144 pips. Signal showed break and pullback (see last weeks chart)…price action traders inferred the pullback on lower time frame through the upper shadow on breakout candle. Nice trade.
AUDCHF – We got the long trade for 80+ pips and then price collapsed.
CADJPY – Got the upside move later in the week for 80+ pips
AUDCAD – Still bearish but we did not get a break of last weeks low. Short trade still in play.
GBPJPY – Flag formed and broke for 100+ pips but looks like we have an expanded range
GBPCAD – Snooze
NZDJPY – Price broke support….dropped 120 pips….price pulled back on Friday and closed bearish. Signal called for breakout pullback play. Pullback has happened.
USDCAD – Trade did not trigger short and price kept moving to the upside.