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Forex Trading Weekly Setups Archive

May 10 – May 15

How did these do?

AUDNZD – Top of the week I was considering this as bear flag, a pullback.  However the pullback failed into a trading range.  Turn to a range trading strategy or looking for signs of direction.  Price drove higher through top of range.  There was a playable pullback that occurred after the momentum move.  It was 48 pips.

EURGBP – Price based below resistance which is bullish over a large sample set of trades.  Entry was off four hour at higher low.  98 upside pips.

GBPAUD – While basing on support is bearish, the four hour chart was a mess.

GBPNZD – Scalp idea turns into a 270 pip upside move from a double bottom on the four hour chart.  Price had broken support and was hovering around the zone.  It was a simple double bottom play.

NZDCHF – Got the failure at the level and it wasn’t until price broke down and put in a range that a trade could be taken on the four hour chart.  140 to the downside.

NZDJPY – Price played inside the range and the entry is clear on the four hour chart.  It was a messy head and shoulder and the trade taken at the right shoulder.  150 downside.

NZDUSD – 200 pips downside as again we have something resembling a head and shoulders.  No, they never have to be perfect, it is the concept.  Trade taken at right shoulder.

900 pips with only the GBPAUD not giving a clear entry.  Double bottoms, head and shoulders (not perfect), pullbacks after momentum thrusts…..we have several entries that were available.  The AUDNZD, lots of pips left on the table but the strong momentum off the bottom of the range was a tough play.

963 pips potential this past week over 5 Forex pairs.  Price in many pairs is still working off some wild moves which makes many of them no worth trading on a daily chart basis.  You can use ranges on higher time frames to trade intra-day swings on lower time frames.  As a swing trader, I don’t usually deviate away from sticking to daily setups with four hour entries.


May 3 – May 8

How did these do?

AUDCAD – Barely got a playable pullback in this pair

AUDCHF – Difficult to get entry at bounce.  Pause in up move with failure test was simple play.  115 pips

AUDNZD – This was a tough play and the trend line break off the four hour which signalled the end of the pullback was the entry.  70 pips upside potential

AUDUSD – Four hour chart rise, pullback and higher low put in. Obvious reversal candle put in to begin the push to 139 pips

GBPAUD – We never got the deeper pullback and price pulled back into a former area of support. The initial rejection on the four hour was tough to enter.  The pause was an excellent place and price fell 439 pips.

GBPJPY – Range was tough to play.  We saw basing at the lower part of the range which points more to downside.  Price breaks down for 200 pips.

882 potential pips last week with some breakouts and the common double bottom price pattern.  GBPCHF had a great showing with longs and shorts that were playable.  This week, we have 6 pairs that have potential plays that are fairly straightforward…..same things every week.


April 26- May 1

How did these do?

AUDNZD – This played out quite well.  Price rose up into our zone and set up a reversal.  Price fell from highs and you can see the range on the four hour chart.  Breakdown from there racks up 113 pips

EURNZD – Price rallied inside the range and was unable to break the high on the four hour chart.  The 2B reversal is a great entry technique especially when you have a bias on the market turn.  This was a 298 pip drop.  There is a reversal after the break at a higher time frame support zone leading with an engulfing candle

GBPCHF – Price breaks the range and puts in a playable pullback that challenges the pullback high for 109 pips.  We have a failure at highs with an obvious reversal that pulls back 105 pips.  You had both directional plays here.

GBPJPY – Perfect double bottom at the bottom of the range.  Entry off a trend line break that rises 257 pips.

We don’t usually look for reversing positions but we were looking at both directions to begin last week in the EURAUD.  That was noted on the setup chart.  480 pips potential unless you found an entry on the GBPJPY which would have bumped that number up.

Here are four setups for the coming trading week.

Hope you check out the recent post I did answering some chart questions.  It touches on how these trades are entered, consistently, with the same patterns every week.


April 19- April 24

How Did These Do?

AUDCAD – Low range this week in price not giving us anything that we were looking to trade

AUDNZD – Sunday started us off with a poke below lows and rejection.  Into Monday, we chopped back and forth as support was holding.  Draw down sloping trend line on four hour chart for long entry.  Simple support holding trade with trendline entry.  Entry on confirmed close above trendline for 110 pip upside

EURAUD – Both directions were at play as noted as price was chopping on support.  Using four hour chart, you have a range breakout as entry into higher time frame pullback that runs for 150 pips.  Price stalls at previous high giving us a double top.  Price drops and bases at support where you position for a short prior to the break.  Price drop of 260.

GBPJPY – I wanted a short trade as noted on the setup chart but unable to find any entry.  The only idea for an entry was a break of the four hour range but I could not make anything out of it.

Price had reactions in each of our noted zones this past week.  Using the four hour chart for earlier entries generally gives us great trades. 830 pips potential this past week with the same clear cut entries we use every week.  This week was a great example of a “head and shoulder” entry we like to use.  The right shoulder rejects around the same level as the left shoulder.  We don’t wait for neckline breaks but watch price on the four hour chart.  Trend line breaks and failure tests are the trigger.

Not a fan of the charts this week for daily chart traders.

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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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