8 Free Forex Setups: Sun Sept 2 2018 – Fri Sept 7 2018
0 Cryptocurrency Setup
AUDCAD – We never got a failure test of lows but did get a lazy pullback. Sell stop the lows of Sept 6 reversal for 95 pips.
AUDCHF – Price continued it’s downward move after we saw basing at lows of momentum for most of the week. No trade available though.
AUDNZD – No trade
AUDUSD – Wanted short and the four hour saw a nice range with a smaller range to trade off of. 85 pip downside
CHFJPY – Price continued to base at highs. No trade.
EURAUD – I’ve been waiting to short this extended market but this was not the week.
GBPAUD – It is tough watching these moves as I wanted to short. No opportunity for a short so just watching the climb.
NZDCHF – The trading model I use for these setups didn’t allow a long trade entry.
Short trading week coming up but we had a strong trading week last week. Over 700 potential pips were available to traders who track my weekly Forex setup updates.
This week I have put up a number of mean reversion trades (counter trend) – meaning playing into any pullback that comes. Markets are extended in some cases and with the proper price action (use four hour charts), you can grab a fair amount of pips. Keep in mind that trades that are not with the trend, statistically will give lower return so be aware. Perhaps use a multiple of ATR for a target such as 2.5 – 3.5 X ATR.