Cryptocurrency and Forex Trading Setups – Archive

8 Free Forex SetupsSun Nov 4 2018 – Fri Nov 9 2018
0 Cryptocurrency Setup

Potential of 600 pips in these setups below

AUDCAD – Price was at a point on the setup chart where there were several options and the only one that showed up was a pullback for a long trade. Heading to our usual four hour lower time frame, we had our pullback and the entry is the breakout of the base that formed. 120 pips

CADCHF – Price stayed inside the pattern

CADJPY – There was no clear entry for a long on the four hour chart. Some horrible price action.

EURGBP – The break of the bear flag was not something you could really trade on the four hour but price pulled back after that to allow a short entry.. 70 pips

EURJPY – This was a longer pullback than expected but was not cancelled because it was generally a lazy pullback. Once price failed during the pullback, it was a small potential of 65 pips.

NZDCAD – Price stayed within the consolidation we were looking for. Price broke from a range with momentum, set up a small pause which was the entry into the move upwards for 155 from our four hour chart.

NZDCHF – Same play as the CAD trade but this entry is much more clear with price consolidating just below resistance prior to the breakout. 105 pips

USDJPY – The entry is on the failure test of the lows of a smaller range on the four hour chart. A tight stop would have had you taken out of this trade which is why I recommend every trader research an ATR stop management strategy. 82 pips

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Not the best week for trading the setups as price action was muted, one -2 day spikes, or simply ranged with less than 200 pips being available.

One day price spikes are a suckers play and we will stick to the plays that have a higher probability. The CADAUD is a great example of ensuring you monitor your setups and also look for opposing reasons for your setups. This can often have you positioning in a move opposite your original thoughts.

The U.S. mid-term election is coming up which may explain why we were in a holding pattern with the charts.  Be conservative this coming week and let the political scene settle down.

 

AUDCAD

AUDCAD

 

CADCHF

CADCHF

 

CADJPY

CADJPY

 

EURGBP

EURGBP

 

EURJPY

EURJPY

 

NZDCAD

NZDCAD

 

NZDCHF

NZDCHF

 

USDJPY

USDJPY

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