14 Free Forex Trading Setups For Nov 20 – Nov 24 2017
How did we do during the short trading week? Only pairs that had movement that could be traded are noted
AUDCAD – Support held with a good setup but only managed 30 pip by end of week.
EURAUD – Setup occurred as a counter trend trade off a failure test of highs. Price ran 44 pips before failing back inside. Failure to follow through should have been an exit from the trade.
EURJPY – We got our long as indicated on the chart after price was rejected at lows for max 132 pips
EURUSD – Due to the strength of the previous up leg, I wanted another trade long. Price pulled back in a bull flag from a momentum impulse leg. Break of doji high setup a run for 183 pips. Traders who monitor on 4 hour charts, may have had a slightly better entry as price poked below support and then regained.
449 pips max potential on the trade setups from last week which is not bad for 6 swing trading setups.
Always remember that there are only a few currencies that really drive the moves: USD, GBP, EUR. Make sure you pick the strongest setup as price evolves during the week. With any setup, one day of price action can change the entire thoughts for the trade. For example, looking to trade a bull flag that looks calm at week end changes dramatically if momentum shows up to the downside.