11 Free Forex Trading Signals For Aug 14 – Aug 18 2017
How did these charts play out?
USDCAD – Completed a 1:1 measured move from congestion lows and with a failure test at highs, price broke downside. The yellow zone that was marked was for a pullback to lows of Jan 2017. With the previous week closing as a reversal candlestick after a momentum thrust, this daily chart failure test made sense. Sell stop break of reversal on Aug 15 gave 155 pip potential. Shout out to Chris M who got this short and used a .618 Fib retracement from lows for target.
NZDJPY – Played out as indicated for quick upside pop at 60 pips to highs.
GBPUSD – Played out as indicated with only a 15 pip buffer zone to stated target. 110 pips potential.
GBPJPY – Bulls didn’t continue upside push. Basic technical analysis….backside test of demand line, obvious reversal candlesticks helped form a bear flag. All covered on this website. 199 pip potential to lows.
GBPCHF – The beat up of GBP continued with the pullback playing out as indicated occured giving 122 pips potential before collapse
GBPAUD – The much anticipated breakdown finally happened. Standard breakout play for 211 pips potential
EURUSD – Price did nothing during the week and no leg down for a pullback trade.
EURCHF – Bear flag broke but was also supported with retest of inner horizontal resistance level at 1.1450. Shorting test candlestick gave 140 pips potential.
CADCHF – Was looking for a long trade which happened for 90 pip potential
AUDJPY – As indicted, looking for upside, got upside for 120 pips
AUDCHF – Reversal candlestick high taken out, bulls taking over, buy stop trade for 87 pips
Quite a few crosses were stagnant while others showed large red candlesticks only to be supported near the end of the week with the NZDJPY standing out as a big mover. Still 550+ pips potential were available.
Look back as the charts from last week as some of them are still valid. You will see price sitting in our action zones.
The Forex signals pointed you in the direction and how you traded them would have determined your outcome. Whether it was a simple trend line break play, consolidated breakout, or lower time frame setups (4 hour), there were trades available. These setups/entries are not a secret as there are many trading strategies you can use on this site.
Some traders will trade Forex trends and others will use counter trend trading.
Asked about news releases: we trade the higher time frame and the usual news releases don’t greatly affect our trades.