Forex Trading Weekly Setups

Signals/Setups Published for: Jan 26 – Jan 31 2020

6 Forex Signals/Setups 1 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 tradingmean 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
READ  Forex Trading Setups and Signals - Archive

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

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.

READ  Forex Trading Signal Reviews

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

Previous weeks archive

Jan 26 – Jan 31 2020

Tough week in terms of price movement to trade.  Some of my stock trading friends are finding their watch lists a little empty so these types of markets are normal.  90 pips up for grabs but this week was a lesson in patience.

BTCUSD

BTCUSD

 

CADJPY

CADJPY

 

CHFJPY

CHFJPY

 

EURGBP

EURGBP

 

EURJPY

EURJPY

 

USDCHF

USDCHF

 

USDJPY

USDJPY


Jan 19 – Jan 24 2020

Update

CADCHF – Price had broken out and was looking for the pullback. Late entry off of a 2B reversal for 65

CADJPY – Price pulled back and continued to pull back

CHFJPY – Price pulled back and continued to pull back

GBPCHF – Was looking to short but no entry

NZDCHF – Pullback failed into a trading range

USDCHF – Short lived short for 25 pips before reversal

USDJPY – Price failed to hold breakout and kept pulling back

Not a ton of with trend movements this past week with a total of 154 pips in play.  These would have been tough trades to manage as price hardly moved.  The plan is to stick with the plan because over time, we get some large moves to take advantage of.

CADCHF

CADCHF

 

CADJPY

CADJPY

 

CHFJPY

CHFJPY

 

GBPCHF

GBPCHF

 

NZDCHF

NZDCHF

 

USDCHF

USDCHF

 

USDJPY

USDJPY


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