13 Free Forex Trading Setups For Oct 9 – Oct 13 2017
How did the charts play out?
AUDJPY – Broke over the upper part of the channel on Friday after weakness for the week. No trade
AUDNZD – Price continued to consolidate
AUDUSD – Simple support trade for 93 pips with buy stop above reversal candlestick.
CADJPY – Consolidated
EURCAD – Upside break with no momentum
EURGBP – Breakout with no momentum
EURTRY – Price gapped up – no trade
EURUSD – Another support trade for 142 pips
GBPAUD – The week ended with big weakness but no trade
GBPJPY – Long trade worked out for 115
GBPUSD – 224 pips with yet another support holding setup
GBPCAD – Got the pullback but the reversal set up on Friday.
USDCAD – This pair did nothing
This past week was an example of how the failure of one setup can turn into a trade in the opposite direction. 780 pips were in play.
These setups are designed to alert you to areas where there is a high probability of a move occurring. Check out this trading article where I go into detail about one of the previous setups.
As traders, as mentioned before, we react..we do not predict. Any setup is a best guess given the overall context however many of you are seeing exactly what trading is:
Areas of probable price movement + price action playing out in your direction = trade.