Sept 5 – Sept 10 – UPDATED
AUDCHF – Resistance held and price reversed for 48 pips to lows
EURCAD – Price made a move back up, set up an obvious reversal and dropped 60 pips
EURGBP – Patience on the entry but long upper shadows showed sellers in control. Outside bar on the four hour chart and short below for 46 pips
We only had 2 setups last week and both played out as expected. 379 pips potential for the week. Right now, daily charts are not in the best shape to trade. We either have prices extended in a trend move or weeks of range trading. The 3 for this week are the best that can be found. You have support/resistance holding or failing trades plus a pullback that is looking for short.
Aug 29 – Sept 3 2021– Results Updated
EURAUD – Price broke down and topped 189 pips to the downside.
GBPAUD – Price broke down through support and hit 190 pips to the downside. This was support holding or failing trade. Price broke support, based for four hours and broke down
411 pips on 2 of 3 setups from last week. This week, we only have 2 available as the majority of currency pairs have not had a ton of movement over the last few weeks. Looking at daily charts in the context of a weekly chart, we need to see price start making moves on the weekly for daily setups.
Aug 22 – Aug 27 2021 – Results Updated
CADJPY – Support held and price rallied 176 pips to highs
USDCAD – Price drove lower from the reversal for 235 pips
USDCHF – Price did not break the entry candle. No trade.
Last week was one of the biggest weeks in potential pips we have had in a long time. 1026 on 8 setups that had easy to find triggers to get into the trade. Trade management came into play on a few where price triggered, topped around 50 pips and reversed. The entry on Bitcoin was a little early but did eventually rally for $2000 from entry. Since most Bitcoin traders are holding, this was a good entry for the week.
Thanks so much ❤️❤️📈📈
This is absolutely wonderful
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?
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.
Thanks.
@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
Hey Jay. You are welcome. Take your time, understand why I choose these setups and the trade triggers.
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
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.
Thank you for your analysis.
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
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.
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.
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
Really nice content. I’m learning a lot on how to get in to the markets at the right levels. Cheers.
Great setup
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
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……..
Hi SD, I took a 2/1 profit on NZDJPY thanks for that and look forward to the coming weeks setups
Great work Oliver.
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.
You are going to have to search for them. I don’t use MT4 but I am sure they are coded somewhere. Google, can be your friend: https://www.best-metatrader-indicators.com/super-trend/
Hi, I’m a newbie. Which charting software do you use or would recommend
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.
Hi SD – Happy New year!!
How did last week’s setups do?
https://forextradingstrategies4u.com/forex-trading-signals-5/
Great setups