Forex Trading Weekly Setups

Signals/Setups Published for: Nov 22 – Nov 27 2020

7 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

Previous weeks archive

 Nov 22 – Nov 27 2020

 I have to say this was a tough week.  Price didn’t give much in the way of entries even on our four hour chart.  Lower time frame traders would have had some good opportunities.  210 pips .

Price action is far too noisy on the daily charts to find much of anything worth rising.

AUDCHF

AUDCHF

AUDJPY

AUDJPY

EURCHF

EURCHF

EURJPY

EURJPY

NZDCHF

NZDCHF

USDCAD

USDCAD

USDJPY

USDJPY


Nov 15 – Nov 20 2020

How did these do?

AUDCHF – Never got a trigger to ride the little upmove.

AUDJPY – Price was right into our trading zone. 32 upside off reversal candle.

AUDNZD – Barely got a pullback that we could short

AUDUSD – Price broke upside and entry off 4 hour trend line break. Barely 40 pips upside.

EURCHF – Price just ranged

EURNZD – Not pullback to short

GBPCHF – Could not get the original bounce from our level. Price gave a pullback and a simple break of highs gave 60 pips

GBPJPY – Gave up more downside for a long trade but far too much of range above where price held.

GBPUSD – While a deeper pullback would have been nice, price was at our first level. Missed the first move up off of lows, no entry. Price pulled back and just a break of highs for entry. 78 upside.

NZDCAD – Price gave conflicting price action at highs. No pullback. No trade.

NZDCHF – No entry.

NZDUSD – No trade.

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Potential of 377 pips this past week. AUDCHF had a nice run but when you have objective entry triggers, there will be times you miss a trade. EURJPY was a good example of a rules based approach. The pullback was too strong to consider it a simple pullback trade. Seeing price spike through resistance and setup up a reversal candlestick gives us a failure test setup.

The lesson? Ensure you have your rules laid out before you trade.

AUDCHF

AUDCHF

AUDJPY

AUDJPY

AUDNZD

AUDNZD

AUDUSD

AUDUSD

EURCHF

EURCHF

EURNZD

EURNZD

GBPCHF

GBPCHF

GBPJPY

GBPJPY

GBPUSD

GBPUSD

NZDCAD

NZDCAD

NZDCHF

NZDCHF

NZDUSD

NZDUSD


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