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
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
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.
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.
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.