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Forex Trading Weekly Setups Archive

Signals/Setups Published for: Dec 27 – Jan 1 2021

4 Forex Setups / 0 Crypto

If you are looking for Free Forex trading signals and setups every week, this is the page to bookmark.

You can find the setups below and they are posted every week, by Sunday evening.

I don’t publish daily Forex signals because my experience (and many others) is that swing trading Forex offers the most bang for your buck.

Many have said these are the best Forex signals because there is a learning component to the posted setups and the recap.

I use what has proven to work in Forex trading:  mean reversion and momentum-based setups.  There is an actual edge in using these two methods that can be quantified.

There is an edge in mean reversion and momentum trades and that is where I will continue to focus.  As you’ve seen, you can short alt currencies and Bitcoin in the right context but most traders would be better to continue with the trend.

These are daily price charts

Some things to help you understand the charts:

  • Consolidations are considered to be pullbacks and ranges on the posted charts.
  • Ranges and pullbacks are treated differently in terms of trading them
  • The trend line can be used for entry on the break but I do not follow them for support or resistance
  • Horizontal support and resistance are pivots areas
  • Momentum thrust is a sharp move in price
  • Basing is when the price is ranging sideways – usually used to explain price action after a momentum move
  • Basing at highs or lows of the momentum move are continuation patterns
  • Failure tests are thrusts up or down through a level and immediate reclaim of previous price zone
  • I prefer to see pullbacks with low momentum in the corrective phase

As always, all of these free Forex and cryptocurrency setups are based on price action, price structure and may result in trading opportunities.

These setups use technical analysis to determine if a chart is set up for a potential trade.

As the Forex charts are set up when the market is closed on the weekend, the price may evolve differently than anticipated.

It is impossible to give entry and exit prices because these are not updated on a daily basis.  As price evolves, so does the entry.

The beauty of price action Forex trading/cryptocurrency trading like this is you are not waiting for a lagging technical indicator to flash an entry signal.  You can see, in advance, the setup that we are looking to take advantage of.

  • We are reactive to price action in these areas
  • We do not attempt to forecast although an idea can be helpful
  • Don’t get blinded by your opinion
  • Price rules your opinion

While some of you may choose to scalp or day trade the foreign exchange market with these free setups, please note they are designed for a swing trading approach.  Lower time frames may also present opportunities using these charts for context.

Please be fully aware of your overall “risk appetite” when it comes to your trading account and your Forex broker margin rules.

Note that all recaps are best-case scenarios in terms of totals.  Every trader will have different entry and exit points and the recaps show potential and not necessarily totals obtained by the author.  The author does trade the posted setups and others dependent on evolving price action.

Forecasts presented in this section only reflect the author’s private opinion and should not be considered as guidance for trading. This site bears no responsibility for trading results based on trading recommendations described in these analytical reviews.  You must understand Bitcoin and cryptocurrency trading in general before trading that market.

You can also visit:  How To Trade The Free Currency Trading Signals

Previous weeks archive

Dec 27 – Jan 1 2021

How did these do?

AUDCHF – We didn’t get as deep a pullback as we’d like but the pullback was obvious. Drop to our four hour chart for a trigger and the break of the down trendline is the trigger long for potential 83 pips to the upside.

EURCAD – Strong pullback into our zone but no trigger. This pullback is too strong to consider a buy against right after it happens although it did complete a complex correction.

EURNZD – Looking to short on further downside and we got a pullback to ride against. Four hour chart gives a reversal candle and sell stop the lows for a 233 pip downside move.

USDCHF – Price just pulled back and even though there was a big push upside, there was no four hour trigger.

With a short trading week, we have seen in the past great price moves and this week was exactly that. Bitcoin ran up for over $3000.00. Forex pips were potentially 1030! We haven’t seen those moves in a while.

There is no secret to what we have been doing on this site for years. Identify potential points where price may reverse. Use a trigger for entry. We don’t get a lot of adverse excursion when trading in this manner.

This is the last update for 2020! Hope you have found my setups and explanations helpful.


Dec 20 – Dec 25 2020

How did this week do?

AUDCHF – Price spiked into our setup zone. Four hour chart rejection after exhaustion move led to a 100 pip upside move.

AUDJPY – Price was in a range and looking for a trigger. Price pushed below support with exhaustion. Four hour chart gives perfect reversal candle for 85 upside.

AUDNZD – Price continued to reject higher prices

Bitcoin – Four hour chart as mentioned. Price spiked down below support in a failure test setup and trigger. Price ran $3706 upside off break of reversal candle.

ETHUSD – We were looking for a pop and price just melted down

EURCAD – We got the failure at highs and outside candle break of lows was trigger for 101 downside pips.

EURNZD – Got the double top setup and the four hour short was break of lows of inside candle. Price dropped 80 pips before a retrace. Price retraced giving us another top but the entry was not clear until break of 1.7255 for a 150 pips second trade.

GBPCAD – Price held but no clear entry on the four hour until basing under resistance due to outside candle. Position inside of base at break of inside candle 1.7267. Price ran 210 pips to the upside.

GBPNZD – We projected a bounce to highs of December and came within 30 pips of full target. Four hour chart bounce with reversal candlestick led to a 283 pip run in price.

GBPUSD – Price spiked right into our zone and bounced. Missed entry. Momentum upside plus lazy retrace gives us another entry at break of inside candlestick 1.3378. Price runs 240 pips to upside.

NZDUSD – Range play was in the cards as price broke support and bought back up. Obvious reversal on four hour for 68 pip run.

A week that saw a run upside on Bitcoin and 234 pips in Forex. FX was tougher as momentum stepped in on pullbacks which negates the trade. Bitcoin was the perfect example of how we play breakouts. We look for ranging under support and look for an entry trigger. There are times where you just have to “get the trade on” when the range is in play for the trigger into the breakout.

Nothing fancy this week…just the usual plans we’ve been trading here for years.


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42 thoughts on “Forex Trading Weekly Setups Archive”

    1. I am not sure what you mean. If I am understanding correctly….a trigger can be anything that shows a shift in the balance of power. From failed breakouts to trend line breaks and a pattern shift of higher highs and lows to the opposite..all on a lower time frame in the direction you are looking to trade on higher time frames….can be a trigger.

  1. Hi SD, I hope I find you well!
    There must be something wrong with the website today. The images are not showing at all.
    Can you please check it and advise.
    Thank you in advance!!

    1. I just scroll through a list of currencies for the website. My own trading covers futures, stocks, and ETF lists. I look for big moves in price, consolidations, pullbacks, and a trend structure. If I can see it in one second, I will look deeper at the chart to decide on a trading tactic.

  2. Hi,
    why did you draw downward trendline to go Long and wrote Long Bitcoin last week and now you say price never breached horizontal line for long entry?
    I liked setup last week and took the trade and it was a loss, not a big deal. I believe you should write a loss in your description and not pretend break of horizontal line was your entry. What was the point of drawing trendline and saying Long; if your entry was break of horizontal line? very similar things with some other setups…
    One more question, if last week potential on your setups was 504 pips, how many pips was potential loss for your pairs? I would like to understand your math.
    Thank you and have a nice day


    BTC is in an obvious range and we’ve never entered off a trend line break in a ranging market. We look for basing at resistance as written about hundreds of times. Other than that, wait for breakout and pullback.
    You can also see how close price is to a zone that has repeatedly rejected price.

    Trend line breaks are good tools on a simple or a complex correction.

    Even if you traded the break, price moved 3% in your favour. Surely you had some form of risk management as price literally rejected at the resistance line.

    Why should I write a loss if there was price movement where you could reduce risk? I am sure you had a profit taking or risk management plan for the trade especially considering overhead resistance.

    I have never written I take all of them. I have never talked about potential loss because every “trader” will have different entries, exits, management.

    Anyhow, you clearly doubt the voracity of what is posted and this is probably not a good fit for you. There are plenty of places that will give you exact entry and exit criteria if that’s what you need.

    1. I know you use trendlines as entries and not SR
      Incorrect. I DO use S/R if there is basing under resistance or above support. I also use support and resistance with failure tests. I also play pullbacks and basing after breaks. That’s been made clear.

      I know you use trendlines
      Correct. I do use trend line triggers. What I don’t do is take trades right into resistance unless, as noted, there is basing

      504 pips potential based on what?
      Based on positive price excursion from a standard entry level.

      If you don’t say what was your entry and stop loss
      I use ATR stops. I’ve written about them. Again, I have never said I take all these trades. Heard of overall exposure?

      I am sure many people don’t understand what risk and reward
      If people don’t understand risk and POTENTIAL reward, they should not be trading.

      misleading information
      Misleading? This is free. There is zero benefit for me to mislead. If someone feels that these setups are calls, they are incorrect.

      Bottom line. This is free. Some find value. I don’t need to give my entries and exits and those serve nobody. Again, if you find value, great. If not, great. This is not for you.


  3. On the July 19 update you finally posted up bitcoin after avoiding it for a long time cause it was ranging. You posted it just before the breakout and i know you update results for the week to cover price move from the other week. i am so happy to tell you that i am still long in Bit @9642 thanks to you. I stayed out until you posted again so good timing. Thank you very much!!!

    1. Great to hear! Yes, the updates for the previous weeks moves just covers the moves, not exits. I expect many will have their own exit strategies and Bitcoin gave zero reason to exit. It wasn’t posted in this weeks setups because the break and price move was underway. Many weeks, the setups that trigger don’t have an exit by the end of the week and carry over.

  4. Hey boss, great job and thank you for help.
    I have some questions about Trading Plan if you don’t mind, I just cant find anywhere info and don’t know anyone to ask directly except you here. What do you think about choosing 4 different strategies/entries for 4 different stages of market: breakout,trend,reversal,range? Or would you focus on 1 market stage and trade more strategies of same kind? Would it be better to trade multiple strategies on fewer pairs or multiple pairs with fewer strategies?
    Do you care about specific pairs in your portfolio or you trade all 28 majors/crosses as long as you don’t take correlated trades at the time?
    I wish there is some article about it, or you can let me know if there is something actually.
    Thanks a lot, have a nice day!

    1. Who knows. The volatility is not ramping up that points to an end of the up move in price. The weekly is getting a little heated so we could be looking at a pullback or further basing. Stay with the trend on your time frame.

      1. O.M.G thank you so much for the help because right now it is in the consolidation period on 4hr horizontal channel though the overall trend is up . thank you for the help you have given the trading community hope its still going on till forever

  5. Hey SD, your charts are so clean, simple and easy to follow, keeping it simple is really the key in trading! Thank you for your help through your site.. just wanted to ask if you have any paid services?

    1. Thanks. I just note the trend, note price behaviour, look for simple patterns, stay on the sidelines until a trigger. No need to complicate it. As for paid, I have been asked that many times over the years and no, I will never do that. I may eventually make a course, maybe, but that’s as far as it would go.

    1. Your risk per trade is going to be determined by you and your comfort level. Some traders trade .5% of account size while others trade 2-3-5%. Position sizing has no one size fits all.

  6. Hello RKay,

    You are the Great and Legend God Bless you.

    Excellent information in this site and Thanks very much for helping the trading community and specifically sending Free weekly calls without missing any week. I am still in trailing wheels. At this point I am trying to enter by using some indicators on 1 H time frame based on your weekly setup. Which is not appropriate I know. Still struggling to place SL and TP. Also trying some KISS strategies you posted on this site by combining your weekly analysis. Additionally looking some templates in Forex Factory . Hope if I learn your price strategy course completely then I can place trades efficiently.

    Trade Setup : GBPCHF – Support Holding Trade, need rejection around the zone. Lower time frame entry.

    Hope we are looking for a long entry if this daily support holds. May be we can enter by following pin bar or Bullish engulfment on H1/H4 charts with some basic MAs.

    Please correct me if I am wrong.

    Hope RKay is busy, I dont want to waste his time, fellow experiencing traders those who are making pips, please suggest me how you guys are entering and exiting trades. That would be very helpful. I am following for the past 3 weeks.


    1. RKay has been gone for a few years.
      My question is why you are doing something you know is not appropriate? If you want to use one hour chart entries, either look at four hour chart setups or be well versed in price action trading. I personally don’t look at anything lower than four hours in Forex.
      The GBPCHF chart was a support holding trade which also includes the failure of support holding. You always want to consider the opposite scenario.
      There was no clear entry on the four hour chart. If I look at the one hour chart, there is a range that forms on support, a double bottom and the entry is an upside breakout of the range. Stop would go near the lows of the range.
      Thanks for coming by and I can tell you that 3 weeks, you are just getting your feet wet. I would not bother with Forex Factory or anything like it. Just read the posts on the blog and seek to understand the setups and the explanations that follow in the next update.

      1. Thanks very much RKay for your time to reply my post. I should read completely At least 2-3 times of your price action trading course. And I will follow few more weeks and try to record a journal and find how I can improvise the entries and exits.

  7. Hi, thank you for analysis.
    I am little bit confused with AUDJPY and pullback trade you mentioned. Are you looking at it as long bull flag setup or you are going short because trendline was broken and you are shorting until next support level around 72.00?
    Thank you, have a nice day.

  8. hello thnx for ur heads up and trainings, been following a few times and trying out some of the weekly signals in my demo training, this week though 1-6th june 2020 has so far been my best, i have already closed my trades that i took following ur signals;
    AUDJPY bought@ 72.40 for 177 pips this is gone as far as 334 pips so far!
    AUDNZD bought@ 1.0750 for 38 pips this is gone as far as 133 pips so far!
    CADJPY bought @ 78.80 for 147 pips gone 198 pips so far!
    EURGBP sold@ 0.8967 for 64 pips gone 100 pips so far!
    EURUSD bought @ 1.1160 for 35 pips gone 96 pips so far!
    NZDUSD bought@ 0.6310 for 100 pips gone 130 pips so far!
    USDCAD sold@ 1.3670 for 73 pips gone 190 pips so far!
    gotten 634 pips out of a possible 1181 pips by today! reading the pitchforks to improve on Stoplosses and Takeprofit areas, coz im still getting out prematurely. BUT thnx once again for the lessons, materials, signals. my training is improving considerably.

  9. Hmm… now it makes more sense to me. Thank you for taking your time and answer.
    I checked now the chart and was wondering if tha little pull back visible in 4H and below would have been ok as an entry. I’ve tried puttin the fibonacci retracements and i see that once it touched the 0.38 level, that was also a level visible to the left, and then bounced up. I would have put a screen to let you see but i can’t ahaha.

    1. I get what you are saying. I don’t use Fibs and if you are, waiting for a 38% pullback will have you missing consolidations at momentum highs….which are generally continuations. You are welcome.

  10. Hello! I’m new to your blog. I read your price action course and i’m trying to figure things out. In the signals of May 17 – May 22. (EUR-GPB) What do you mean with any reversal i’d like a short. And what do you mean by range?
    Sorry for the bother ahah and also thank you in advance for your time.

    1. Reversal would make this a breakout that failed. Some traders would trade the break back below the top of the blue line will other will use a reversal pattern of some sort.

      A range would be any type of consolidated price action, a pause where it’s more sideways. That is the only way to enter a move that is underway. On the posted chart, there was no entry yet on that move up UNLESS you trade end of day closes.

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