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Free Forex Weekly Trading Setups

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Signals/Setups Published for: Stand by for 2023

0 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

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

Archived Setups

 

End Of 2022

Wrapped up the end of 2022 Forex trading with a lot of setups that went nowhere. 128 pips potential in the GBPUSD but nothing else went live off the setup.

Hope you all have a great rest of 2022 and we will see you back here in Jan 2023

Dec 18 – Dec 23

Results

AUDUSD – Price ranged

EURUSD – Price ranged

GBPAUD – Price broke down

GBPCAD – Price pulled back into our zone but all red candles with no reversal

GBPNZD – Got the pause but broke upside

GBPUSD – Price broke down for 128 pips potential

USDCHF – Price ranged

614 pips potential in the last real trading of the year.  Not a bad way to wrap it up.  We have 7 setups this week but I’d be very cautious lining these up.  Make sure that the entry trigger is clear and if any doubt, sit it out.  Thank you for reading this year and I hope you’ve all picked up something (including pips), that has improved your trading.

AUDUSD

EURUSD

GBPAUD

GBPCAD

GBPNZD

GBPUSD

USDCHF

 

Dec 11 – Dec 16

 

AUDJPY – Price came right into our level of $93.31. Inside bar break on the four hour entry chart led to 143 pips downside

EURAUD – Price bounced off our rising trend line and an inside bar break leads to 316 upside pips

EURJPY – Price based under resistance which is bullish and then price broke upside. No trade.

GBPAUD – Price ranged

GBPNZD – Price stayed in the range most of the week until a huge upthrust and then reversal occurred. 155 pips on break of candlestick lows.

USDCAD – Price stayed in the range

USDJPY – Price showed little interest in moving to the downside

Last week saw 290 pips potential and Bitcoin continuing to stabilize in a trading range.  Remember that pip count matters only in relation to how much per pip you make.  A trader that trades an account size where one pip equals $5.00, can make a good income (second income) off of 25% of that pip count.  Coming into the holiday season will want you to temper your expectations as volume tends to dry up.

AUDJPY

EURAUD

EURJPY

GBPAUD

GBPNZD

USDCAD

USDJPY

 

Dec 4 – Dec 9

AUDUSD -Using the four hour chart, price bounced off our support level. Long off high of Wed daily candle for a 71 pip jump in price.

BTCUSD – Price continued to range.

EURCHF – Price continued to form a triangle

EURJPY – Bounce came off our level for a 210 run in pips to the upside

GBPNZD – Price continued to range

Last week had some news releases so we did see some slow price movement for a while.  As we went through the charts for this week, too many are already in a move.  The only way to trade those are either lower time frame pauses or wait until the daily takes a pause.  For those that like to trade during the day, there are a few to watch.  Just scroll through your charts and look for FX pairs already trending up or down.  Look for a pause.  Only 132 pips last week as most pairs failed to make any advances past an entry point.

AUDUSD

BTCUSD

EURCHF

EURJPY

GBPNZD

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27 thoughts on “Free Forex Weekly Trading Setups”

  3. OBAKENG MOKOKA

    Hi SD.. I’m Bkay, thank you so much for the information you share with us new traders, highly appreciated…I was wondering as a price action trader, what timeframes do I have to use to check for reversal candlestick patterns?

    1. SD

      Thanks for the words. All timeframes are important depending on your style. For me, daily charts, four hour charts, and a bigger picture weekly/monthly are used.

  6. Jay Singh

    @SD

    Many thanks for replying and I would just like to add that for someone who is 53 years old…..starting out all over again I wanted to say thankyou for the amount of information you have provided for the likes of me who are just starting out.

    Good luck to you and all that follow your trade setups as for me I am going to be practicing until I know, understand the tools I will be using (including charting software), and develop my edge as a PA trader.

    Best

    1. SD

      Hey Jay. You are welcome. Take your time, understand why I choose these setups and the trade triggers.

  8. Mohann

    Is there a way that the charts with recommendations can be enlarged or blown larger so that the level numbers are visible clearly. Thank you. Mohann

    1. SD

      You don’t need the exact price point. Just find the location on the chart and draw a box. You used to be able to click on the image and get the larger….but a few sites were using my images on their sites. I disabled that function.

  11. John Njoroge

    Hi SD,

    I have been following your trade set ups. To be honest, I like your approach which has taught me alot in this market. Great work

    1. SD

      Glad to read that John. What’s great about the setups I pick and the trade triggers on the lower time frames, there’s usually a trade that works (even a little) or a trade that never triggers. Really helps win loss rate which, although not the only measure of success, it’s a good starting point.

  13. Shingi

    Hi SD,
    I hope I find you well.
    I can now easily find the triggers and trade successfully.

    Now, I want to spot the setups for the coming week on my own and compare what I have with yours.
    Can you tell me what should I look for or how should I go about it.

    Your help in this regard will be much appreciated.

    1. SD

      Hey Shingi. Glad to see that finding the triggers has become easier. You probably have about 3 you can use on the lower time frame trigger chart – trend line breaks, breakouts, failed tests of lows/highs. If you go back over all he setup charts, you will start to see a theme as to why I pick the ones that I do. Much better way to “get it” as opposed to me explaining it

  15. Jonathan McGrath

    Really nice content. I’m learning a lot on how to get in to the markets at the right levels. Cheers.

  17. David

    Hi SD, do you have a social media platform where you traders signals so I that I can know exactly when to take a trade. Thanks
    And great work, you’re the best at what you do

    1. SD

      Hey David. Thanks for the words. No, I don’t use social media. Weird, I know! Your goal should be to find trade triggers that work for you. So many ways to do that – indicator, reversal candle, breakouts on lower time frames, trend line breaks……..

      1. Kazeez

        Please,I need some of the indicators that you mentioned in ur scalping trading strategy.
        (1)Fisher Indicator
        (2)supertrendTrend Indicator.
        kindly help on how to get them.Because it’s not in the indicators list on my MT4 platform.

            1. SD

              I use Tradingview for all my charts. There is a free version but since I trade stocks and futures as well, I use the pro plan and data add-ons.

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