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Free Forex Weekly Trading Setups

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Feb 28 – Mar 5 2021 – Results Updated

How did these setups do?

BTCUSD – Price came into the support zone and using the four hour chart, a trend line break entry leads to a $5700 run to the upside.

CADJPY – Price was holding the zone and again, the four hour chart entry is used with a trend line break trigger. 159 pips to highs.

CHFJPY – As indicated, we were looking downside using the four hour chart trigger. Price puts in a lower high (think head and shoulders) and entry is upon breakdown or break of support. 119 pips to lows

GBPCAD – Price gave no upside at all and we had a momentum thrust downside. Look for low momentum pullback to short with a trend line break trigger on four hour chart. Led to 126 pips downside. Use these momentum pushes that are counter to the overall trend for a one leg trade.

GBPCHF – Price held support at our zone. No entry off lows until range on the four hour chart on Mar 1. Buy stop high of reversal candle that poked below range support. 229 pops upside to highs.

GBPUSD – Support held with a reversal candle/failed test of lows of range on daily. 40 pip upside before price collapsed.

USDCHF – Price did as expected but entry could not be taken until pullback on Mar 2 as price just rocketed at the open on Sunday. 165 pips

ETHUSD – Price came into zone of opportunity with obvious reversal leading to $259 upside.

EURJPY – Price stayed right on our zone and trend line break entry on four hour led to 102 upside pips.

Stellar week in the FX market with our 6 setups giving a potential of 1183 pips. Some of the pairs made strong gains before our trade triggers happened on the four hour chart.

Often times the next week after big moves can be slow so ensure you have your trade triggers and risk parameters set. In this case, we are heavy with GBP crosses so watch your exposure.

Cryptocurrency took a big hit this past week but BTC and ETH are at potential points where price could rally.

BTCUSD

BTCUSD

CADJPY

CHFJPY

GBPCAD

GBPCHF

GBPUSD

USDCHF

ETHUSD

EURJPY

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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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