10 Free Forex Setups: Sun July 1 2018 – Fri July 6 2018
0 Cryptocurrency Setups
The setups below gave potential of 450 for the week. Here is how they played out.
AUDNZD – Mean reversion played out with our failure test of highs leading to a 70 pip drop.
CADCHF – Nothing
CHFJPY – Prece pulled into our zone of interest and four hour chart setups for 40 pips.
EURCAD – Price ranged
GBPAUD – Example of a failure of a flag where price simply ranges
GBPCAD – Sideways
GBPUSD – Price grinds higher for 70 pips as the extended market mean reverts
NZDCAD – Another extended market where the setup chart said to watch form mean reversion. 80 pips
NZDCHF – We wanted a pop up…and got the pop up for 70 pips.
NZDUSD – Said to look for a counter trend long and it played out for 120 pips.
Given that we are entering a slow season of trading, the posted Forex setups did well following our usual approach that plays out every week.
418 pips is enough for those with a larger account to better a full time 40 hour/week income. Average of even $5/pip with the potential pip gain of 418 is $2090 for the week. No, you probably would not get all those pips but even half is nothing to laugh at.
The crypto trades did nothing which means you should not have entered any of the ones that were posted. Zero price action that would mean a trade entry.
For the next 2 months, I would suggest reading through the website, go over previous setups, and hone your trading craft. Now is not the time to be knee jerking into trade.
Even better, hammer out and test your trading plan.
Watch the CAD crosses this week. CAD has been strong and is driving those moves.