Cryptocurrency and Forex Trading Setups

Free Forex Setups Now Published:
Sun Sept 16 2018 – Fri Sept 21 2018

New For 2018:  Bitcoin and Alt Currency Charts


I’m now posting Bitcoin and alt currency charts from a swing trading perspective.  It is at times difficult to get involved from the daily charts in crypocurrency trading as the continued push upwards give no other alternative but to buy breaks of individual candlesticks.  By itself, there is no edge in that approach.

There is an edge in mean reversion and momentum trades and that is where I will continue to focus.  As you’ve seen, you can short alt currencies and Bitcoin in the right context but most traders would be better to continue with the trend.

Horizontal consolidations on daily charts may see trends you can trade intra-day.

The term consolidation as seen on the charts and text means in price or time.  I consider a retrace in price and a horizontal movement the same thing – but traded differently.

As always, all of these free Forex and cryptocurrency setups are based on price action, price structure and may result in trading opportunities.

These setups use technical analysis to determine if a chart is setup for a potential trade.

As the Forex charts are set up when the market is closed, price may evolve differently than anticipated.

The beauty of price action Forex trading/cryptocurrency trading like this is you are not waiting for a lagging technical indicator to flash an entry signals.  You can see, in advance, the setup that we are looking to take advantage of.

  • We are reactive to price action in these areas
  • We do not attempt to forecast although an idea can be helpful
  • Don’t get blinded by your opinion
  • Price rules
READ  Trade Management And Stop Out

While some of you may choose to scalp or day trade the foreign exchange market with these free setups, please note they are designed for a swing trading approach.  Lower time frames may also present opportunity using these charts for context.

Please be fully aware of your overall “risk appetite” when it comes to your trading account and your Forex broker margin rules.

Note that all recaps are best case scenarios in terms of totals.  Every trader will have different entry and exit points and the recaps show potential and not necessarily totals obtained by the author.  The author does trade the posted setups and others dependent on evolving price action.

Forecasts presented in this section only reflect the author’s private opinion and should not be considered as guidance for trading. This site bears no responsibility for trading results based on trading recommendations described in these analytical reviews.  You must understand Bitcoin and cryptocurrency trading in general before trading that market.

You can also visit:  How To Trade The Free Currency Trading Signals

I have been asked if I close all my positions at the end of the week.  The answer is no.  As an example, here is a snapshot of a position I am holding in EURCHF that was posted as a setup.  Portion was scaled out and trailing stop remainder.

REAL TRADES. REAL MONEY

REAL TRADES. REAL MONEY


8 Free Forex SetupsSun Sept 16 2018 – Fri Sept 21 2018
2 Cryptocurrency Setup

Over 700 pips potential this past week with some trades taking a little longer to play out.
It is important to note that the setups begin on the daily chart and can give an entry on the four hour chart.

READ  USDTRY - You Still Want Upside

Why? You have more price bars to see the who holds the balance of power. It can be difficult to see a failure test or small range inside a bigger range on the daily. You can see it better on the four hour chart.

AUDNZD

AUDNZD


 
CADCHF

CADCHF


 
CHFJPY

CHFJPY


 
EURGBP

EURGBP


 
EURJPY

EURJPY


 
GBPAUD

GBPAUD


 
GBPCHF

GBPCHF


 
GBPUSD

GBPUSD

Crypto

BTCUSD

BTCUSD


 
ETHUSD

ETHUSD


10 Free Forex SetupsSun Sept 2 2018 – Fri Sept 7 2018
1 Cryptocurrency Setup

How did these setups play out?

AUDCAD – The breakout happened after basing at lows. Not a big move, 77 pips potential, but certainly playable

AUDNZD – The long played out and 50 pips may seem small, but not if you trade size.

AUDUSD – Playing the breakout was 77 and waiting for a pullback and shorting off the lower high formed on the four hour gave up 25 – still be in the trade.

CADAUD – Why did I say breakout? Basing at highs of momentum is playable and this went for 92

CHFAUD – Pullback underway but no trade

CHFJPY – I’ve written many times to try to find an entry before the breakout. This was obvious (four hour) for a 125 pip upside move

EURAUD – No entry to catch the move down

EURJPY – Was looking for more downside that never happened. Break of trend line to upside as well as minor resistance and basing had a buy stop above 129.80. Play to resistance for 93.

GBPAUD – Wanted to short but took a four hour range break to catch the 180 pip downside

READ  Swing Trading For Dummies Crash Course

NZDCHF – Price ranged all week

DASHUSD – The bear flag broke and consolidated

Some weeks you see price continue to move against your setups and this was one of them. These markets are certainly stretched and the daily strong movements of price can be dangerous to trade. You want to wait for an entry that is not simply jumping in. This is trading.

180 pips – and probably one of the worst play out of the setups I have ever seen.  No worries….you need the setup PLUS the trigger and we didn’t get one!

Onward and upward

That said, the model I use for these setups is designed for traders of all levels. My main model utilizes other conditions including a quantified breakout strategy on the daily and weekly but is not something that will make its way to these pages.

Why do I tell you this?

You must design your own strategy and you can use what is covered in these many pages of setups, as a jumping off point.

 

AUDCAD

AUDCAD

 

AUDNZD

AUDNZD

 

AUDUSD

AUDUSD

 

CADAUD

CADAUD

 

CHFAUD

CHFAUD

 

CHFJPY

CHFJPY

 

EURAUD

EURAUD

 

EURJPY

EURJPY

 

GBPAUD

GBPAUD

 

NZDCHF

NZDCHF

 

DASHUSD

DASHUSD

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