8 Free Forex Setups: Sun Sept 16 2018 – Fri Sept 21 2018
2 Cryptocurrency Setup
How did these setups play out?
AUDNZD – I posted up the weekly chart but the idea of a long was still the call. We didn’t get a long trade off.
CADCHF – The long setup worked well for 109 pips to the upside.
CHFJPY – Basing at highs after momentum to the upside is a breakout type of trade that can use a stop order. 187 pips on the upside break
EURGBP – 107 pip upside run as we were looking for longs.
EURJPY – We got the move up but there was no entry
GBPAUD – The setup chart said to watch for rejections and this was a perfect example of a failure test of resistance. 380 downside
GBPCHF – Obvious failed breakout (upper shadows) and price drops 160 pips
GBPUSD – Favoring shorts was the right play but no entry to the downside
BTCUSD – Downside break but short lived giving up a slight loss
ETHUSD – Push up happens for $28.
Over 700 pips potential this past week with some trades taking a little longer to play out.
It is important to note that the setups begin on the daily chart and can give an entry on the four hour chart.
Why? You have more price bars to see the who holds the balance of power. It can be difficult to see a failure test or small range inside a bigger range on the daily. You can see it better on the four hour chart.