Signals/Setups Published for: Sep 15 – Sept 20 2019
6 Forex Signals/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
- Trend line can be used for entry on 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 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 setup for a potential trade.
As the Forex charts are set up when the market is closed on the weekend, 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 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 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 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
Sep 15 – Sept 20 2019
To be honest, I did not expect too much this week. When you have one great week in terms of price moves, the next week is a little muted. 270 pips were in play and these weren’t complex setups and triggers.
Simple works in trading.
On another note, strong pushes in GBP crosses but being Brexit driven and the extent of those thrusts, they are not really up for consideration.
Sep 8 – Sept 13 2019
How did these do?
AUDCHF – After the great breakout trade from 2 weeks ago, we didn’t get a proper setup evolving from the price action.
AUDJPY – Price continued to grind higher not giving us any entry even off the four hour chart
CADJPY – Price just moved higher….no entry
CHFJPY – Pullback was in play…and we got upside 128 pips. Perfect pullback. Why? Momentum in the impulse move and a lazy corrective decline!
EURGBP – These are great trades that tip the probable move in advance. Watching price on the four hour, we get pokes below support and immediate regain of support. We get a momentum move off of support later in the week with zero follow through. Sell stop below the small range to position before the breakout. 101 downside potential
EURUSD – I could not make anything out of this price action this week. No trade
NZDUSD – Momentum to the upside, range, and failure test is the short. Not much, 50 pips, but something.
983 pips up for grabs this past week with some perfect trading setups and entries. I hope everyone is reading the updates that are posted above the previous weeks posted setups.
Make sure you check out the EURGBP update where I link up a screen capture of a perfect complex correction.
Also note the power of triangles on the GBPJPY. If you get wrong footed on these breaks. it can be painful!