9 Free Forex Trading Setups For Dec 4 – Dec 8 2017
How did we do?
AUDCHF – Price snapped from it’s channel, retested former support and the reversal candlestick gave entry to 40 pips
AUDJPY – Resistance tested and held for the short for 69 pips using the failure test setup
CADCHF – Long was off the table because trading back inside a range is not good business. Trade rallied up to down sloping trend line and headed back short after a strong reversal for 28 pips
EURCAD – Price pulled back and price evolved during the week into our often covered failure test entry of support for 125 pips to the upside.
EURUSD – Continued the slow grind to the downside not giving an entry for an upside move
GBPCAD – Price didn’t consolidate but gave us the long setup much like EURCAD for 280 pips
NZDCHF – Support held on this pair giving a long but there was no entry using the patterns that are used here.
NZDJPY – Grind higher continues
NZDUSD – The forming head and shoulders type of pattern did not come to fruition. Not a pattern I trade but when they complete, they can give you information about the state of the market
Over 1200 pips potential were up for grabs this last week. You don’t (and can’t) get them all but even 25% of pips available, depending on position sizing, makes for a very good week.
Don’t get caught up in the quantity of pips. It’s how much each pip is worth that matters. I’d rather take less trades with larger position sizing than more trades with small value.