6 Forex Trading Signals For Feb 27 – March 3 2017
After a few weeks of decent market action, this past week was a little ugly.
Keep in mind that for these Forex trading signals I look at the higher time frame charts. Those trading smaller time frames may have had some great moves. It is not unusual (and is quite likely) that ranges on daily and weekly charts have superb swings on smaller charts.
Higher time frame charts is where the money is especially for retail traders. I also find them easier to trade and have no problem not being part of the daily noise and news releases.
Also keep in mind that as you go through each week, some charts from previous weeks are still in active trade mode. It is too time consuming to update previous weeks charts. Just remember that a trade today on the GBPUSD for example may be a small part of a move that already happened three weeks ago.
That said……things were not too bad last week.
AUDCHF – Gave us the support bounce and shot up 100+ pips
AUDJPY – Failure test started to play out and if this was your trade, you are still holding short and in profits.
CADJPY – Weekly chart is still finding its way
EURUSD – Break of pivot low and immediate retrace. Week ends with bear candle but traders short on signal jumped the gun. Break of pivot was weak as indicated by tail. If you entered right on break….that was the wrong play. Wait until candle closes.
GBPJPY – Break of pattern short. Traders may be looking for position this week.
GBPJPY DAILY CHART
AUDCAD WEEKLY CHART
USDJPY WEEKLY CHART
NZDSGD 4 HOUR CHART
USDCHF DAILY CHART
CHFJPY DAILY CHART