There are 8 forex trading signals/trade setups to watch this week.
This will be the last trade setups for this year.
The signals will start again on the January 9th-13th January 2017
Have A safe 2016 Christmas.
#1: GBPUSD BUY TRADE SETUP/SELL TRADE SETUP
if price hits the bottom trendline, look for bullish reversal candlestick to buy.
if price hits the upper trendline, look to sell if you see bearish reversal candlesticks
#2: EURUSD BUY TRADE SETUP
notice the major support level on the weekly timeframe.
if price hits that support level, look for bullish reversal candlesticks in the daily, 4hr or 1hr timeframe to buy.
#3: GBPCHF SELL TRADE SETUP
if price hits the upper trendline, look for bearish reversal candlesticks in the daily, 4hr or 1hr timeframe to go short.
#4: GBPJPY SELL TRADE SETUP
if price hits the upper trendline, look for bearish reversal candlesticks on the daily, 4hr or 1hr timeframe to sell.
#5: USDCAD BUY TRADE SETUP
notice price is travelling up in an upward channel and now price is heading down to the lower channle trendline.
if price touches the lower trendline, look for bullish reversal candlesticks in the daily, 4hr or 1hr timeframe to buy.
#6: USDJPY sell trade setup
there are two main obvious levels where price can reverse from on usdjpy: the resistance level identified by the yellow circle or the upper trendline.
for now, watch that resistance level to sell if a bearish reversal candlestick if formed.
note: this is a weekly chart so you need to switch to a much smaller timeframe to take your trade.
#7: AUDUSD buy trade setup
price may go down and hit the rising trendline.
switch to 4hr or 1hr timeframe to look for bullish reversal candlestick pattern to buy if price touches that trendline.
#8: CADCHF SELL TRADE SETUP
if you zoom in close on the setup below on the daily timeframe, you will see that price has hit the trendline and moved down at least 30-40 pips already. the breakout of the low of Friday candlestick may see price going down further.
you can also switch to a smaller timeframe and look for patterns within a pattern to sell
