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Free Forex Weekly Trading Setups

Dec 19 – Dec 24


AUDJPY – Price evolved quickly the next day with a spring off of lows giving us a perfect buy setup for 188 pips. Price had taken out the highs on the posted chart, taken out the lows on the Monday and reversing. On a weekly chart, we got an outside bar

AUDUSD – Played out much the same as AUDJPY and was noted as a bigger picture bull flag. 118 pips potential

EURUSD – Price continued to range

GBPAUD – Price continued to consolidate

GBPCAD – Price broke to the upside for 108 pips missing the target by 4 pips

GBPNZD – Price continued to range

We will eventually get back to big runs in price, but this wasn’t the week to happen.  Just over 200 pips potential with the 16 currency pairs I look at.  Crypto is not in this week as the charts look like random slop without one side gaining much ground.  You can certainly watch them for any momentum stepping in but there is no setup that I look for present.

AUD is in a few of these setups because of the strength it has been showing.  If weakness begins to step into that currency, the setups will probably fail.


Dec 12 – Dec 17


AUDJPY – No strong close out of the range. No failure test of support for an entry into the range. A failure test of resistance back into the range. Needless to say, no trade.


BTCUSD – Nothing

EURCHF – Failure test short back into a tight range. No longs

EURUSD – Stayed inside a triangle

GBPAUD – Pullback happened and alert was set to signal when price was lower than Nov 29 closing price. Four hour chart used with trendline break entry. Price gave a potential of 141.

USDJPY – 56 pips potential off a bull flag. Reviewing this afterwards, this seems more of a breakout failure than the failure of a bull flag.

484 pips in play last week.  No matter how many years go by, using a lower time frame with a simple trend line break can be a simple entry into any trade.  For this week, AUD has shown some strength so pick one cross and use that.  Bitcoin, is still not in a good place. How you handle Bitcoin will depend on the type of trader you are.  For me, I am looking for buy points as I don’t trade it in an active manner.  With any instrument, big spike moves can throw it off for weeks as traders digest that move.


Dec 5 – Dec 10


AUDUSD – The climax push into lows was confirmed. Four hour chart entry off a trend line break lead to 132 pips to the upside.

BTCUSD – No entry

EURAUD – As mentioned, price was extended and into resistance. Four hour chart trend line break to the downside 272 pips potential.

EURGBP – Got a short lived reversal for 20 pips before price ripped back to the upside.

EURUSD – We got an upside hit later in the week that drove up 60 pips

GBPJPY – Consolidation this week

GBPNZD – No trade

USDCHF – We got momentum to the upside which turns off looking to short the pullback

For the first time in history, there were no triggers on the setups last week – except a buy in ETH.

Even after a big week as we say Nov 28 – Dec 4, I expect something.  Not this time.  Then again, given almost a 4% sell off last week in the S&P, no surprise that risk was off the table.

This week, we are looking at a few pairs running into support, some consolidations, and a breakdown on Bitcoin.


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27 thoughts on “Free Forex Weekly Trading Setups”

  1. 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. 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.

  2. @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.


  3. 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. 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.

    1. 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.

  4. 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. 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

  5. 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. 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. 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. 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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