Forex Trading Weekly Setups

Signals/Setups Published for:  Sept 13 – Sept 18

4 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
  • 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
RELATED  Forex Trading Signals And Trade Setups - Archive

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

Sept 13 – Sept 18

426 pips potential this past week with these Forex setups.  The GBP meltdown was a surprise although if you were a lower time frame momentum trader, you probably enjoyed those moves.
We have kept to the same trading approach for years and having a plan helps prevent impulse trading and you will, at times, miss those 400+ pip moves.

There has been confusion about the tally of potential pips every week.  It is impossible to measure adverse excursion that leads to a stop out because there are many ways to decide on a stop.  Most traders use too tight of a stop.  I use a multiple of ATR and very very rarely get stopped out of a trade for the full risk.  In fact, I would I to check my old records for a 1R loss.

What can be measured is how far the price goes in the direction stated.  It’s silly to ask the potential loss because there are different measures of what would be a loss level.  1 pip could be a loss level.  It also depends on your trigger.  How do you enter a trade?  If you need exact entries and exits to help you trade, there are many paid services out there.

EURUSD

EURUSD

GBPNZD

GBPNZD

GBPUSD

GBPUSD

NZDCHF

NZDCHF


Sept 6 – Sept 11

Updates

AUDNZD – We did the move up from a pullback and used the four hour chart for our possible entry.  There was no early entry near the bottom of the pullback on the lower time frame.  We had to wait for the breakout pullback of the downsloping trendline.  34 pips from that break.  Traders may be still in that trade as there is still 100 pips to resistance.

RELATED  Forex Trading Setups and Signals - Archive

AUDUSD – As usual, four hour chart looked at for entry and beautiful failure test of lows.  104 pips potential from reversal to highs.

GBPCHF – Absolute total meltdown

GBPUSD – Absolute total meltdown

NZDJPY – 102 pips downside from break of lows on four hour chart.  While trading breakouts on the setup chart requires a differnet pattern (basing, failure tests), using as a trade entry trigger on lower time frames to enter the higher time frame pattern is legit.  Something you have seen for years on this site.

NZDUSD – Price was right at our zone and test of lows and rejection four hour is the obvious entry.  88 pips to highs on break.

USDCAD – We wanted a deeper pullback and got it.  Entry on four hour chart at failure test on Sept 9.  Break of failure test candle lows to lows is 98 pips

USDCHF – While price did rally, there was no strength or entry to ride it.

504 pips potential last week with some of our pairs not doing much of anything.  That has been the case for several weeks now.
We never changed our approach and continue to use the same analysis.  We change nothing even if the market tempts us to.
The key is to have your trading plan, and trade that plan.  While you may miss the opposite move in price, you stay on the side of consistency.

AUDNZD

AUDNZD

AUDUSD

AUDUSD

GBPCHF

GBPCHF

GBPUSD

GBPUSD

NZDJPY

NZDJPY

NZDUSD

NZDUSD

USDCAD

USDCAD

USDCHF

USDCHF


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