9 Free Forex Setups: Sun Sept 30 2018 – Fri Oct 5 2018
0 Cryptocurrency Setup
How did these work out?
AUDUSD – Small consolidation showed up which helps give an entry into the down move that we were looking for. 159 pips.
CADCHF – This pair just pushed strong upside and there was no entry on the daily or the four hour chart. I noted on the setup chart that trading the bull flag would have given us the upside. Direction right but no entry long. On the four hour, you can see a “head and shoulders” pattern forming but you can actually trade the right shoulder as it tests the left shoulder line. 22 pips downside.
CHFAUD – We wanted upside and using the four hour chart the entry is clear. Trend line break and retest. 170 pips potential.
CHFJPY – Price continued to lead downside
EURCAD – The flip side of the CADCHF pair. Momentum continued down with no entry
EURJPY – The lower shadows were showing buying stepping in but not enough to push upside for an entry
GBPJPY – Price consolidated this week
NZDCHF – Setup chart showed shorts in play and four hour chart downside momentum with a pullback is the entry for 85
USDJPY – Still pushed upside and no entry either direction
397 pips potential last week with some trades still holding. This was the FOMC week and the sharp directional moves changed a few of the parameters of the trade setups I posted. We saw that really well with the GBPUSD pair.
Remember as swing traders we do like trend trades but counter trend trades with conservative targeting is something you should learn. It helps when we have trading weeks where news events change the face of many setups.
