8 Free Forex Trading Signals For July 17 – July 21 2017
How Did These Setups Play Out?
AUDCHF – Longs continued with a break above Mondays high right into the zone I marked on the chart. 75 pips
AUDJPY – Was looking for weakness and a pullback. That all happened near the end of the week. No trade unless you took the break to the upside early or shorted on Friday morning.
AUDUSD – Clean break at resistance with basing on Monday with 140 pips potential. Setup said you don’t simply short unless sign of weakness.
CADJPY – Based the entire week.
CHFJPY – I said not to be quick to short and if you did, you paid for that. Nothing worth trading setup to the upside.
EURJPY – Nothing set up further downside was negated by a one day momentum move.
EURNOK – Called for downside potential to 9.26. Price dropped to 9.26. Needed a 4 hour chart after daily inferred pullback (look at the candlestick) . Break of bear flag or retest of minor broken support for entry. 100 pips potential
GBPCHF – Bullish price action stopped in its tracks. Failure to maintain strong break is a failure setup. Trading break back through resistance on Tuesday (support failure) or better pullback entry on lower time frame. 260 pips available.
1180 pips full potential for last weeks posted setups.
You would never have got all of them especially if you are using risk management that will sustain a run of losing trades.
Your job is to pick the best setups and trade those that fit into your method of trading. These Forex trading setups are simply a “heads up” because when these setups go, virtually any trading strategy can grab a piece of the pie.