6 Free Forex Setups: Sun June 24 2018 – Fri June 29 2018
2 Cryptocurrency Setups
AUDNZD – Considered this was the end of a corrective move and looked for longs which served 130 pips
CADCHF – Price did rally but there was no short entry available
CADJPY – Box break played out to the upside for 150 pips
EURAUD – Weakness did not set in for the week and price ranged
EURCAD – Mentioned the easy play was short (complex correction completed) but watch for a trap. Price did not trap shorts instead it ranged at beginning of the week, found resistance, failed to break 5584. Price ranged at resistance on four hour chart and breakdown began on the 26th. Conservative entry at 5485 break for 138 pip drop
GBPAUD – Price ranged
EOSUSD – Price ranged
ETHUSD – Price ranged
Still not seeing great market action for swing trading and the crypto market has been an unsightly mess of price action.
As traders, we must pick our spots before letting risk into the market and in this current condition, take the profits when price action is setting up adverse to our positions. We only had 4 setups last week and 290 in total pips.
Our one crypto trade gave a $66 price drop.
This week, the setups are not the greatest but traders who understand price action will see the setups pretty clearly on the charts.