5 Free Forex Setups: Sun Sept 23 2018 – Fri Sept 28 2018
1 Cryptocurrency Setup
How did these charts do?
AUDCAD – Simple works. 82 pips downside on the bear flag
AUDJPY – No play with the nasty shadows showing up in both directions
CADAUD – We were looking for longs and the weak pullback was looking good. Momentum can and broke through the potential support but the immediate reclaim is your entry. It’s similar to the failure test entry. 87 pips as these are four hour entries. The momentum candles do make it difficult so waiting for a pause in price is my preferred play.
CADJPY – We didn’t get the failure test of highs but below the white line on the setup chart is a previous swing high. These can act as potential resistance and when broken, potential support. We got a faiure test of the low on Sept 27 and the buy stop of high is the call especially when price reclaims 50% of the previous candlestick. 93 pips to highs
GBPUSD – The short on the setup chart would have been a tough entry. I’ve written before about pullbacks needing a thrust and then a lazy pullback which we got as the week went on. These are counter trend trades using pullback rules. 135 pips to low. I will write more about these setups.
ETHUSD – Made some moves but there was no trade entry
Good trading week with our setups giving you quite the amount of trading opportunities. 940 pips were up for grabs and I am going to write two posts in the near future covering how to enter the trades that happened on the CADCHF and EURGBP
Longer time frame trades on crypto are not playing out as good as Forex with BTCUSD handing up a small loss on the failed downside move.