Weekly Trading Setups

Signals/Setups Published for: Feb 21 – Feb 26 2021

Forex Setups / 0 Crypto


If you are looking for Free Forex trading signals and setups every week, this is the page to bookmark.

You can find the setups below and they are posted every week, by Sunday evening.

I don’t publish daily Forex signals because my experience (and many others) is that swing trading Forex offers the most bang for your buck.

Many have said these are the best Forex signals because there is a learning component to the posted setups and the recap.

I use what has proven to work in Forex trading:  mean reversion and momentum-based setups.  There is an actual edge in using these two methods that can be quantified.

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.

These are daily price charts

Some things to help you understand the charts:

  • Consolidations are considered to be pullbacks and ranges on the posted charts.
  • Ranges and pullbacks are treated differently in terms of trading them
  • The trend line can be used for entry on the break but I do not follow them for support or resistance
  • Horizontal support and resistance are pivots areas
  • Momentum thrust is a sharp move in price
  • Basing is when the price is ranging sideways – usually used to explain price action after a momentum move
  • Basing at highs or lows of the momentum move are continuation patterns
  • Failure tests are thrusts up or down through a level and immediate reclaim of previous price zone
  • I prefer to see pullbacks with low momentum in the corrective phase

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 set up for a potential trade.

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

It is impossible to give entry and exit prices because these are not updated on a daily basis.  As price evolves, so does the entry.

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 signal.  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 your opinion
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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 opportunities 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

Archived Setups

Feb 21 – Feb 26

Last week we saw a few pairs exhaust to the upside after a few days of price action. When looking to trade counter to those moves, we don’t want to see the strength we saw, as in CHFJPY. 434 potential pips using simple daily chart setups and four hour entries.

We have 6 setups this week as price has come into potential turning points.  Use the lower time frame, the four hour, for pattern breakouts or candle patterns showing the reversal.

EURAUD

EURCHF

EURNZD

GBPCAD

NZDUSD

USDJPY

 


Feb 14 – Feb 19

How did these do?

CHFJPY – Price broke monthly highs and while we were looking to short, the upside strength had us off this chart

EURCHF – Price continued to the upside

EURUSD – We were looking long and price broke down.

GBPAUD – We had two long entries on the four hour chart. Looking to trade the daily trend line break (this is an entry trigger, not a setup. Setup was support holding), which gave 71 pips before four hour pullback. Four hour pullback was simply a reversal entry long for 132 pips potential. Price stalled at the pivot high

GBPUSD – We were looking upside from that range. The entry was after the breakout on a pullback on the four hour chart. 158 upside potential.

NZDCHF – Price did hold support but we could not enter prior to the four hour breakout. Ended up a breakout pullback entry for 73 upside

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USDJPY – We were looking for another leg down but price continued upside.

275 pips this past week in FX and both BTC and ETH gave entries long.

The key for the past trading week was trade triggers. What are you using to enter a trade? We had breaks of bull flags on lower time frames, reversal candlesticks and range breakouts on lower time frames into daily chart setups. Having a few methods to trigger a trade that show some movement in your favor is a vital approach

Short trading week coming up so keep that in mind when looking to trade.

CHFJPY

EURCHF

EURUSD

GBPAUD

GBPUSD

NZDCHF

USDJPY


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