11 Free Forex Setups: Sun Oct 7 2018 – Fri Oct 12 2018
0 Cryptocurrency Setup
AUDUSD – Price ranged for most of the week
CADAUD – We wanted a pullback in price and we have that just no trade to the upside.
CADCHF – Setup chart had us wanting to see price action at the momentum high. We also had an area below that we wanted price to pull back to . Four hour chart range break lower for 88 pips.
CADJPY – Price ripped through the zone I was looking at for a long trade. Since momentum came into the pullback, longs off the pullback came off the table.
EURAUD – Price ranged
EURCAD – Was waiting for a pullback trade setup and price took all week to set up the trade.
GBPJPY – Ugly price action. Nothing to do here.
GBPUSD – Long was in play but setup chart noted to use four hour chart to get in on pullback or range. 175 pips upside.
NZDCAD – Price was at multi-year low. I always tell my readers to use a lower time frame when price is at a potential turning point zone. Four hour chart shows momentum off lows and lazy pullback = trade. 123 pips to highs.
NZDUSD – Price at lows but no setup to grab a piece of the up move.
USDCAD – I wrote on the setup chart that the momentum in the pullback puts another short at risk. Four hour chart showed a perfect complex pullback to get a long off with 109 pips to highs
Some large momentum moves this week which are great if you are already positioned. Hard to get into these with pullbacks or consolidations because you don’t want to just jump in. Still over 400 pips potential played out using the same approach we’ve been using for years on this website.
Notice we didn’t post any crypto currency trades this past week. Look at the charts and you can see any plays on the larger time frames would have been painful.