Forex Trading Setups and Signals – Archive


Sep 1 – Sept 6 2019

How did these do?

AUDCHF – The basing under resistance is a sign of strength and that break above and failure, while a short during a ranging market, was not a short trade. The four hour chart shows a series of higher lows into resistance, bullish. The posted setup chart called for a breakout pullback trade and that is what happened. Buy stop above the small range after the retrace (using a breakout to enter a higher time frame pullback) led to a 108 pip run in price

CHFJPY – Was calling for a long trade on the posted chart if price shows signs of regaining broken support. Price breaks support, use the four hour chart for monitoring price action. Momentum steps into the market from lows after a double bottom. Basing at the highs of momentum candles is considered bullish. Another breakout entry into a higher time frame pattern. 133 pips to the upside.

EURAUD – Looking for a breakdown of support for shorts once the basing on support was obvious on the four hour chart. Entries are not always clean and many traders will enter somewhere near the top of the small base. Price breaks down for a 200 pip run.

EURCAD – Lower highs into support. Basing. Momentum thrust to downside resulting in more basing. Traders may have played what appears to be a failure test and took a long off the four hour chart however the basing on the daily at support takes a long off the table. You can see the real short entry setting up on the daily on Sept 4. Dial into the four hour chart, it is the pullback off support with the obvious rejection candle that is the entry. This gets you positioned before the breakout of support. 92 pip price drop.

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EURGBP – Let’s first answer why I would consider longs ( I wrote that on the posted setup chart) although we had basing. It appeared to be a complex correction on the daily chart although not a perfect one. Always listen to price and there was nothing bullish about the week. We had basing and the entry is obvious even on the daily. Used a failure test type of entry on Sep 3 in a range to position for a short trade. 100 pips downside. Taking the complex correction further…..I want you to see where price ended for the week which gave us a textbook A-B=C-D price move.
See the chart here: https://forextradingstrategies4u.com/wp-content/uploads/2019/09/ABCD.jpg

GBPJPY – Posted setup chart said about long trades from a triangle. This was a perfect setup,trigger (Sept 3), and trade for over 350 pips

NZDCAD – Breakout pullback trade, right? No. The momentum into the corrective move after the breakout ends looking for a pullback trade although it does work out.

The GBP crosses this past week other than the GBPAUD cross, did not give us movement we could trade.
274 pips were in play and given the state of daily charts across multiple pairs, that is not a bad outcome. Big week of news releases that can move the market. As daily chart traders, we are not affect too much by these as they are generally not trend changing numbers. As always, manage risk and look for the cleanest trade entries.

AUDCHF

AUDCHF

 

CHFJPY

CHFJPY

 

EURAUD

EURAUD

 

EURCAD

EURCAD

 

EURGBP

EURGBP

 

GBPJPY

GBPJPY

 

NZDCAD

NZDCAD

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