Forex Trading Weekly Setups

Signals/Setups Published for: Oct 13 – Oct 18 2019

7  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 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
  • 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
READ  Forex Trading Signals And Trade Setups - 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 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

READ  Forex Trading Setups and Signals - Archive

Previous weeks archive

Oct 13 – Oct 18 2019

1149 pips. That was the potential last week using a simple approach to trading that we do here every single week.
Whether the approach brings hundreds of pips or a small amount, it is the same approach:

  • A general bias given the structure and price action
  • Scenarios of “if then” depending on the moves of price
  • Reads of bullish and bearish dominance usually via the four hour chart
  • Use trend lines and other patterns to enter trades

A trader should know what they are looking for.  It takes 10 seconds to glance at a chart to see if the possibility of a trade is there.

This week, I have not posted GBP crosses due to the massive moves the last week.  You can still have them on the radar and look for failures of the large moves.

AUDUSD

AUDUSD

CADJPY

CADJPY

EURCHF

EURCHF

EURJPY

EURJPY

EURUSD

EURUSD

NZDCAD

NZDCAD

USDJPY

USDJPY


Oct 6 – Oct 11 2019

How did these do?

AUDNZD – The pullback terminated in a perfect complex pullback A-B=C-D. On the four hour chart, you can see the higher low put in on Oct 9 and the entry is a break to new highs giving us an up trending pattern. Price has only gone up 38 pips

EURGBP – The four hour chart comes into play (again) on a daily chart setup. As you know, when using trend lines, you want to have the last swing low before the new high as part of the line. That is why you get fanning trend lines. Using the trend line break as an entry and ensuring price breaks the four hour low on Oct 9, a sell stop order is used. Price crashed for 240 pips. IF you missed that entry, the small consolidation break is another entry.

READ  Free Forex Trading Signals ARCHIVED

EURUSD – Wanted a short and was using the four hour range for entry however there was no test of highs or basing at support for an entry. Didn’t see a long entry.

GBPCHF – Was considering short and was thinking breakout pullback. Price actually puts in a complex pullback which is bullish. Price broke support of first leg down and based under what could now be considered resitance. Basing under resistance is bullish (basing on support is bearish) . Enter inside of basing. Price drives 475 pips upside.

GBPNZD – With price basing at highs of a momentum move on the weekly, a channel on the daily, the long was in play. Break of four hour trendline and then the break of Oct 7 high leads to 396 upside.

NZDUSD – No weakness to short

625 pips potential this week while some of the pairs did absolutely nothing.

Some great lessons here in one week which covers a lot of the lessons we’ve had over the many years we’ve posted these.
Note that even with small gains in price, you still have room to remove risk in most of these trades due to the higher time frame approach.

The potential pips is not what you’d have gotten. What that means is you add opportunity from 0-625 and from my experience, many of you that have been here get a little over half.

AUDNZD

AUDNZD

 

EURGBP

EURGBP

 

EURUSD

EURUSD

 

GBPCHF

GBPCHF

 

GBPNZD

GBPNZD

 

nzdusd

NZDUSD


Sep 29 -Oct 4 
2019

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