Free Forex Setups Now Published:
Sun April 22 2018 – Fri April 27 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.
Consolidations on daily charts may see trends you can trade intra-day.
Please don’t ask about brokers. I am in Canada and my broker for crypto trading is https://www.quadrigacx.com/
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
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.
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
10 Free Forex Setups: Sun Apr 22 2018 – Fri Apr 27 2018
5 Cryptocurrency Setups
The big news for the past trading week was while we stayed away from crypto setups for a while due to subpar conditions, this week was on fire. The setups we posted on Bitcoin and others all played out according to the setup charts. While this doesn’t mean we are out of the weeds yet with crypto, it was satisfying to see them all work out.
Forex made use of our usual lower time frame (four hour chart) to monitor price action at key locations that we posted. One thing traders should be learning is that “something” will happen when momentum appears at important locations such as inside ranges with consolidations at support/resistance zones. 401 pips were up for grabs (more if you entered on lower time frames in line with the daily chart setup) and even a $1 a pip would make for a decent trading week.