Forex Trading Weekly Setups Archive

Signals/Setups Published for: April 19- April 24

4 Forex Signals/Setups 0 Crypto


If you are looking for Free Forex trading signals and setups every week, this is the page to bookmark.

You can find the setups below and they are posted every week, by Sunday evening.

I don’t publish daily Forex signals because my experience (and many others) is that swing trading Forex offers the most bang for your buck.

Many have said these are the best Forex signals because there is a learning component to the posted setups and the recap.

I use what has proven to work in Forex trading:  mean reversion and momentum-based setups.  There is an actual edge in using these two methods that can be quantified.

There is an edge in mean reversion and momentum trades and that is where I will continue to focus.  As you’ve seen, you can short alt currencies and Bitcoin in the right context but most traders would be better to continue with the trend.

These are daily price charts

Some things to help you understand the charts:

  • Consolidations are considered to be pullbacks and ranges on the posted charts.
  • Ranges and pullbacks are treated differently in terms of trading them
  • The trend line can be used for entry on the break but I do not follow them for support or resistance
  • Horizontal support and resistance are pivots areas
  • Momentum thrust is a sharp move in price
  • Basing is when the price is ranging sideways – usually used to explain price action after a momentum move
  • Basing at highs or lows of the momentum move are continuation patterns
  • Failure tests are thrusts up or down through a level and immediate reclaim of previous price zone
  • I prefer to see pullbacks with low momentum in the corrective phase

As always, all of these free Forex and cryptocurrency setups are based on price action, price structure and may result in trading opportunities.

These setups use technical analysis to determine if a chart is set up for a potential trade.

As the Forex charts are set up when the market is closed on the weekend, the price may evolve differently than anticipated.

It is impossible to give entry and exit prices because these are not updated on a daily basis.  As price evolves, so does the entry.

The beauty of price action Forex trading/cryptocurrency trading like this is you are not waiting for a lagging technical indicator to flash an entry signal.  You can see, in advance, the setup that we are looking to take advantage of.

  • We are reactive to price action in these areas
  • We do not attempt to forecast although an idea can be helpful
  • Don’t get blinded by your opinion
  • Price rules your opinion
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While some of you may choose to scalp or day trade the foreign exchange market with these free setups, please note they are designed for a swing trading approach.  Lower time frames may also present opportunities using these charts for context.

Please be fully aware of your overall “risk appetite” when it comes to your trading account and your Forex broker margin rules.

Note that all recaps are best-case scenarios in terms of totals.  Every trader will have different entry and exit points and the recaps show potential and not necessarily totals obtained by the author.  The author does trade the posted setups and others dependent on evolving price action.

Forecasts presented in this section only reflect the author’s private opinion and should not be considered as guidance for trading. This site bears no responsibility for trading results based on trading recommendations described in these analytical reviews.  You must understand Bitcoin and cryptocurrency trading in general before trading that market.

You can also visit:  How To Trade The Free Currency Trading Signals

Previous weeks archive

April 19- April 24

Price had reactions in each of our noted zones this past week.  Using the four hour chart for earlier entries generally gives us great trades. 830 pips potential this past week with the same clear cut entries we use every week.  This week was a great example of a “head and shoulder” entry we like to use.  The right shoulder rejects around the same level as the left shoulder.  We don’t wait for neckline breaks but watch price on the four hour chart.  Trend line breaks and failure tests are the trigger.

Not a fan of the charts this week for daily chart traders.

AUDCAD

AUDCAD

 

AUDNZD

AUDNZD

 

EURAUD

EURAUD

 

GBPJPY

 


April 12 – April 17

How did these free setups do?

AUDJPY – We were in a complex correction as thought as price stalled at our zone.  The entry off the four hour is after price fails to make a higher high and actually fails at the high prior to the higher high.  I do like this type of entry.  Think of a double top but getting in when the right shoulder shows failure.  145 pips to lows.

AUDNZD – Price blew through our zone

EURAUD – Price came to our zone, put in a bounce followed by higher low.  Break of high is entry for 187 pips.

GBPAUD – Nice failure test off of lows and momentum candle steps in.  259 pips upside.

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GBPCHF – Price continued to base at highs

GBPUSD – Trend line break entry leads to 100 pips downside as price broke our zone and failed in the pullback.

NZDUSD – Another pair that we believed was in a complex correction looking short.  140 pips downside off the “head and shoulder” entry.

1180 pips potential last week.  Some of the setups sat in ranges while others continued slow drifts.  The entry of these trades were off the four hour chart.  Remember, simple trend line breaks or range breakouts on lower time frames are entries into higher time frame setups.

Keep in mind that your risk is based off the setup time frame and not the entry time frame.

AUDJPY

AUDJPY

 

AUDNZD

AUDNZD

 

EURAUD

EURAUD

 

GBPAUD

GBPAUD

 

GBPCHF

GBPCHF

 

GBPUSD

GBPUSD

 

NZDUSD

NZDUSD


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