Forex Trading Weekly Setups Archive

Oct 25 – Oct 30 2020

How did these do?

AUDCAD – Price rallied to our zone of opportunity. Four hour chart trend line breakout gave 18 pips.

AUDNZD – Lower time frame traders (day trading time frames) would have had shorting opportuities but on the daily chart, we had no pullback to trade.

EURAUD – Pullback completed and four hour chart entry was trendline break for 109 upside before price rolled over.

GBPAUD – Pullback and basing which changes an entry to a range breakout/failure of lows/basing at highs of range. 194 upside on 3 bar entry off test of lows.

GBPUSD – Price pulled back and four hour chart shows double bottom with failure test on second low. 39 upside on break of high before price stalled

NZDCHF – Pullback and upthrust (failure test of highs) led to 51 pips downside before turning back

Last week we only had 3 setups and 247 potential pips in play.
Some have asked about the overall trend direction and which trend to play. As a swing trader, I look for one swing in the market. It does not have to be in the direction of the longer term trend. For instance, if I use a 5 day chart, the market may still be making higher highs and lows. Dialing into a daily chart, I may see lower highs and lows. On the four hour, I may see lower highs and lows. All this while the longer term trend is up.

AUDCAD

AUDCAD

AUDNZD

AUDNZD

EURAUD

EURAUD

GBPAUD

GBPAUD

GBPUSD

GBPUSD

NZDCHF

NZDCHF


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