8 Forex Trading Signals For 12-16th December 2016
- 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
Thanks a lot for your 5th-9th December 2016 Forex Trading Signals 🙂
Thank you for your weekly signal. Do you see there is a Head and Shoulders pattern in NZDUSD Daily Chart? Do you think it could be a breakout of the neckline of Head and Shoulders instead of reversal of the channel?
good pickup there…Yes. the neckline has already been broken and looks like it is retesting it. May have to switch to sell mode if you see a bearish sign there.
Also with the talk on increasing interest rate in US next month, expect more more downward move on this one.
Thanks for the signal you are spot on.
HAVE A GLORIOUS WEEK OF LIFE AND TRADING
Saya sayang beruntung bisa menemukan Web mu, karena bisa belajar lebih jauh lagi soal TrendLine dan Price Action. Website mu sangat edukatif dalam dunia Forex, smoga web ini slalu jaya.
I was on the road last week so couldn’t do it. But it will be on again for the nov period starting next week 7th nov.
Hi Rkay, are you not giving signals for Nov? Thanks.
Hi RKay, are you using the same signals in your live accounts? You have demonstrated several strategies in your articles, are you using the same strategies in your live trading? Thank you for creating this site. It is helping me a lot.
(1)yes, whatever signals I post, I watch them to trade as well.
There will be occasions where I tend to miss trading signals because of my day job or I may be asleep when setups form and I would miss trading them and that kind of sucks. But hey! That is something traders like me that have day jobs and trade on the side have to put up with I guess.
(2) the strategies I use most are mentioned on the “forex signals page” in the beginning of it. As you can tell, there are hundreds of strategies on this site so traders can find what they like and test them out see what fits their personality and stick with them or not. Its entirely up to each one.
That’s cool! Your signals for Sep 24-26 gave me a positive gain this wk. Pls keep it coming. hehe. Waiting for your 1st wk Oct signals.. =) .. Thanks!
HII, you are doing a great job here, I will follow your strategies.
If you are having difficulty to upload images, shoot me an email at rkay[at]forextradingstrategies4u.com and attach the image with your questions/comments and I’ll upload them on my end and answer etc…
can we upload screenshots of charts here?
i tried but it gave page not found
On this week signals, i saw GBPUSD as a side channel not an asymmetric triangle… and it turned to be truth!. I saw i at the beginning of the week when i saw your signal but didn’t comment. If there are these situations where 2 or more patterns are possible, i try to take both in mind, but obviously with so many pairs to analyze you can miss something.
I love your posts, great work, and thank you for being so cool!.
If i can help with some observation next time i will comment earlier and do not wait until the end of the week jajajaja.
Have a nice sunday!.
You have an excellent and a very valid point there Sebastian about “where 2 or more patterns are possible, i try to take both in mind.”
Believe me, You see this happening every time.
For example, A trendline trading setup is also a trendline breakout trading setup.
If trendline setup does not work because the trendline is broken then switch to using the trendline breakout setup.
LOOK AT ALL THE POSSIBLE SETUPS THAT CAN BE THERE…SO IF ONE FAILS OR DOES NOT HAPPEN, LOOK AT THE NEXT ALTERNATIVE.
That’s how I trade.
Like Isabelle said your blog is tremendously valuable and honest which is a rare thing in this industry especially from the education point of view.
What I want to ask is how can I train my EYES to trading setups regularly viewing past and current price action ?
Peace and blessings.
there are no well defined rules but for my case, this is how it happened:
(1) spend more time in front of charts studying the past data. I spent thousands of hours looking at past price action, studying them and seeing how price moved in the past because of support or resistance levels, or trendlines or channels etc. The more I looked at what happened in the past, the more I can see what is happening in the present and see the price patterns unfold and as a result ANTICIPATE what the likely outcome of a trading setup is going to be.
(2) at its core, price action is about support and resistance levels, which are swing highs, swing lows. All price patterns are built around support and resistance concept: sysmmetrical triangle, double top, double bottom, wolfe wave etc…
(3) to speed up your process, regularly follow my forex trading signals and try to understand the process involved there.
cheers thank you so much
Your blog is a treasure chest of knowledge. Simple and very easily understood. You could turn your blog into a book. Your blog sure beats a lot of books in the market. Keep up the good work.
Glad to have a lady trader on board! Awesome!
Too much work for a book though…but with blog like this, I have the freedom to write about anything trading related that I’m interested about without any “RIGID” structure in place like in a book.
I have to agree with Isabelle this blog is not only valuable but honest which is a rare thing in this industry especially from the educational point of view.
What i want to ask is how can I train my EYES to spot trading setups regularly I’ve read your article on patterns within a pattern and Find it tremendous.
Peace and blessings.
Is it ok to ignore the Brexitcandle when drawing a trendline? As you did in the GBPCAD setup e.g.?
Your trendline does make sense. The brexit candle is such a rare candle that maybe it’s best to ignore it.
Thanx for your helpful site
how have you been doing?
Yes, you can ignore the “brexit candle”. As you’ve noticed, this is NOT A NORMAL TRENDLINE SETUP because the trendline cuts through the brexit candle.
Now, I’ve traded these kinds of setups before and these setups do work and they do not occur frequently, pretty rare or once in a while they do form.
The secret is to watch for the formation of reversal candlesticks when price touches that trendline and used pending buy stop/sell stop orders to place under the high/low of that “SIGNAL REVERSAL CANDLESTICK” and if the high/low is broken on the next candle that form, then chances are the setups is going to work out.
But having said that, sometimes, they may not work out. But the biggest factor to watch is reversal candlesticks.
Well hello there Rkay hope you are having an amazing day I’m justing vibing and enjoying some time as I type this. Taking back some of your feedback and criticism on confluence I’ve decided to analyze and identify some good setups and take some of things you’ve told me in consideration !! Here it is:
Confluence of Trend line + Fib level and bearish Harami.
Time Frame: Daily
Falling trend line with Three connects . Swing high point can be identified at 1.6125 and last connect at around 1.3543
Fibonacci swing point High = 1.16134
Fibonacci swing point Low = either 1.09521 or 1.09103
Bearish Harami can be found at 0.618 fib level which intersects with the falling trend line.
So far so good I’m in a profitable situation. Thank you so much and Feedback would be greatly appreciated. One love.
i see nothing…i mean no valid setup at all on the daily EURUSD.
Hello Rkay, I apologize for my mistake I was too exited for the feedback lol. What i was supposed to type was 4hr time frame. The levels i;ve mentioned are for the 4HR Time frame.
Feedback would be greatly appreciated and once again I apologize.
And the bearish harami interested 0.786 fib level with the trend line not 0.618. sorry
I made everything a little more simple phew lol here is a visual representation https://www.tradingview.com/chart/EURUSD/wbRYpkOn-2016-8-25/
I don’t even see any setups based on trendlines even in the 4hr TF.
Price is way off from any trendlines, even in the 4hr TF.
Maybe you are drawing your trendlines wrong or looking at things a bit differently but i just dont see any setup at all that makes sense in the 4hr timeframe.
First and Foremost i would like to say THANK You! You are one of the very few people in forex i know that provide excellent training, support and encouragement to your amateur traders (lol we all start from somewhere. ) I have gained further knowledge but most importantly confidence which I believe is the most important aspect in trading.
Im here analayzing USDJPY and I’ve noticed a head and shoulders pattern formed at a support line. With mutiple time frame analysis (something Im currently trying to master ) what time frame would you recommend to get better and quicker profit ?
Once again, thank you I really appreciate everything !
with multiple timeframe trading, the main thing is about finding “which timeframe gives the buy/sell signal”. That’s why you switch betwn different timeframes to look for that.
Why is that?
Well for example: if you were watching a setup in a daily timeframe, you will miss the buy/sell signal in the 4hr because the daily timeframe is large and it COVERS that signal.
Or the opposite can happen: there won’t be any buy/sell signals on the 1hr/4hr timeframe etc but you notice a buy sell signal on the daily.
So really, it is not really about what is the best timeframe, it is about what timeframe gives the buy/sell signal.
Thanks Rkay for your website. I’ve noticed a bearish harami form on the daily EURUSD CHART with a confluence of a downward trend line.
Also As feedback, I’ve drawn a fib retracemtent level from 1.16150 as swing high and swing low at 1.09521 which is where a bullish hararmi was also found !!! Is that correct procedure in drawing fib levels.
Thanks feedback would be greatly appreciated.
I’m trying to attache an image to this comment but having some issues doing that so I wrote a quick post about it here:
Can you please tell me how you draw those yellow arrows on your charts? is it some special software?
Im looking for a tool like that and it’s probably not in MT4 is it?
no. its nothing to do with Mt4.
Its called the “SNIPING TOOL”. you capture the screen and you draw and save as a picture file in your computer.
I impressed with the quality of information provided here. Your approach to explain Forex strategies is quite simple and instructive for every cadre of traders.
Good work RKay
U r welcome, Rotimi
I received your update on the AUDUSD
First I would like to commend you on the SUPERB website and on the quality of the material
In addition to pure price action I use Murrey Math lines (MML) for knowing significant pivot areas as well as future price direction (see attached image)
It looks to me that the AUDUSD will try to test the 0.78125 price level
there’s a previous swing high price level 0.7834 which may provide resistance if those two trendlines fail.
That is something to watch as well.
Thanks for your comment.
Great Work brother
Thanks R-kay. many blessings. Noticed nice reversal signals on the 1 hr cadjpy
I don’t know what you are seeing but price has a fair bit of move to go before it touches that rising trendline drawn in the 4hr timeframe.
Any bullish signals generated before that happens is IRRELEVANT in the context of this setup.
I use the same approach to find setups as you do Rkay, mostly trendlines, horizontal and patterns. Its funny how you sometimes draw lines and then Im like hey why didnt I see that one, haha. Your analysis is a great addition to my own. Tnx for posting your charts, keep it up 😉
Good one, mate!
Noticed wrong chart display on no 6 signal.
Thanks for spotting the mistake…it should be AUDNZD instead of EURAUD.
I’ve fixed it now.
Absolutely fantastic site, congratulations.
After spending two years in search of the “Holy Grail” indicator, researching, studying and the like (believe you me, I did the hard yards), mate, your teachings have brought me back to basics, and re-opened my eyes…………Price Action, S/R, Trendlines (which I initially disregarded, as I was convinced the magic indicator was out there)……….just like the way it was done by eye and hand prior to computers.
Fortunately I have been round the block, so this time round (especially with your solid explanations and guidance) it is a lot easier for me too grasp and understand completely.
Thank you for your relentless, unselfish willingness to help all aspiring traders out there, may you forever stay blessed.
Glad you are finding something useful on this site, BKay,
I’m just happy to help.
USDCHF July 24
RK On the USDCHF H4 it is forming a triple top
How does that corroborate with the Bullish Harami on the D1?
mY QUESTION IS WHEN U HAVE CONFLICTING DATA WHAT DO U NORMALLY DO?
short answer to what I normally do, whichever level/line etc price hits first and display bullish/bearish reversal signal etc, take the trade based on that.
sometimes, you may have suffer one or two loses before eventually market goes as expected.
Hi sir, do you also do a review of what happened of your posted signals from previous week? It would really help if you give a review of what happened. Waiting for this wk’s signals. Thanks a lot. More power!
I kind of stopped doing that-giving a review of last weeks signals because I’m assuming that every trader who is keen on following the free forex signals/setups/alerts should do it themselves because its not that I don’t want to do it, its because you’ve got to take the time invest in yourself to study that prediction and what the outcome of the signals were.
It is a really simple process:
(1) what initial trade setup/signal was…that would be charts I’d give with trendlines, support resistance etc that I give on the weekend.
(2) the end result: has price responded as anticipated or not?
All you need to do is pull up the recent chart and compare WHAT WAS THEN (my signals/setups) and WHAT IS NOW (did price responded as predicted? any reversal candlestick clues? how many pips did price move etc…)
That’s how I learnt price action trading…
I’m 100% price action trader, I do not trade based on fundamentals. The only thing is before I place a trade I make sure I check forexfactory calendar to make sure that I’m not entering a trade at a time when a major news is just about to be announced.
Hi sir, do you also consider fundamentals in your trading? How do you apply it in your strategy?
Hi sir, I just landed on your site and really is informative and best thing its free! I really admire people who share their key knowledge without expecting anything in return. I will apply your weekly signals into my account until I am able to analyze the signals on my own. Hope you can continue to update w/o fail as long as it takes. Thank you a lot for this. Got some few questions. 1)Since you are looking in a large timeframe, you are considered as a swing trader, right? 2)How do you set your lot size for every trade?
thanks for you kind comments.
(1)Yes, I will update the forex trading signals weekly…its not going to stop soon, that’s a guarantee.
(2)Yes, my style of trading is swing trading
(3) use position sizing calculation to determine lot size. This calculator will really help you: http://www.earnforex.com/position-size-calculator/
Good day Sir. in fact it was like a miracle to me by discovering your site.
it really help me a lot. I have discovered many things and some fact through your post. but I am still battling on how to spot the key levels correctly
Keep reading and increasing your knowledge and SPEND A LOT OF TIME LOOKING AT CHARTS, that’s the only way you begin to understand price action.
Price action is not the holy grail. It has it strengths and weakness. The key to trading price action is finding areas/levels/zone on your chart where the chance of a trade is going right is high.
And once you’ve identified that setup/level/zone/ etc, then look for the trigger…the trigger is often a single reversal candlestick or a combination of two or three candlesticks, for example, the bullish harami pattern.
Many pips to you.
how can i get access to yo signals
Weekly forex signals are updated just before the forex market opens on Monday.I either do them on Sunday or sometimes on Saturday.
If you check a few hours before the market opens, you are bound to see the new signals for the week.
So bookmark that page.
Rkay, Is it possible that you can be my mentor. I really need a mentor.
Hi Thulisile, I do not provide such nor do I have any intention of doing that. You can learn most of the forex trading stuff here free and really there’s nothing new.
If you are interested in price action trading, the price action trading course is in here for free and on top of that, there’s the price action forex signals so what you learn in the price action trading course is applied in real time on the price action forex signals.
Just take your time to learn and study and see how price behaves etc.
Thank you Rkay, I will wait for this newly formed candle to see if it closes above or below the upward trendline, but on the M15 chart it shows that it will go down.
YES if you have drawn a trendline as shown in the attachment below. You can see that the bounce UP from the trendline has already happened.
If you were watching this setup in in the 15 minute timeframe using the multi timeframe trading technique, there was a really good buy signal
Note also that the length of the 4hr candlestick is too long already so if you were to place a buy stop on the breakout of the high, your stop loss distance would be huge.
I’d wait to see if price falls down a bit again toward the trendline and if a bullish candlestick forms, that would present a good buying opportunity. Swith to a much lower timeframe to do that, maybe 1 hr or 30 mins or even 15 mins.
If however price breaks that upward trendline and CLOSED below it, look to go short(sell).
I’m looking at H4 chart USD JPY, I am thinking it’s a buy (long) , please advise, should I wait he next candle to form?
Hello Traders and FTS4U fans,
(1)12 new forex trading signals for the week 30th may -3rd June posted.
(2) also updated the results of what happened this week 23rd-27th May 2016…only 2 setups formed, AUDNZD and GBPJPY. Audnzd moved 110 pips and GBPJPY moved 180 pips.
Check them out.
Don’t forget to share, tweet, like or link.
Today is Friday (27th May) and its is one of the crazy days to trade from my experience (http://forextradingstrategies4u.com/best-days-of-the-week-to-trade-forex/) and if any of you have taken advantage of my forex trading signals for this week (24-27th forex trading signals) you should be now enjoying some really good profits on GBPJPY and AUDNZD trading setups that I mentioned.
Are you going to take some profits off the table and leave some running, or move stop loss and lock in some profits and leave the trade running through the weekend or are you going to take all the profits off?
Hello RKay, your website is very informative. I am still new in trading and I am learning day by day. If it is possible can you share some of your trading signals.
thanks mate for visiting forextradingstrategies4u.com.
Here’s one thing I’ve failed to notify you the traders about how the forex signals I send out work, so here it is:
(1)I tend to send out weekly forex signals on a Saturday or Sunday (before the forex market opens on monday) you need to bookmark the forex signals page http://forextradingstrategies4u.com/forex-trading-signals/
(2) At the worst case scenario, I will provide the free forex signals for the week just a few hours before the fx market opens on monday.
(3) so keep checking that forex signals page and you’d be updated.
(4) I know I should build an email list to notify all you traders when these free forex signals are released on the weekend but honestly speaking, SOMETIMES I JUST TO DAMN LAZY to do that.
I congratulate you to your great website ! It is the best and most informative for forex-trading I have ever seen!
glad you like it.