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Free Forex Weekly Trading Setups

Jan 31 – Feb 5 2021

How did these setups do?

AUDCHF – Price broke our highs and pulled back – typical breakout/pullback. Reversal candle off the four hour chart on Feb 2 and we had a 76 pip run to the upside.

CHFJPY – Reversal short in play for a 73 pip move to the downside.

EURAUD – Double top off the four hour chart led to 187 pips downside.

EURCAD – Bear flag off the four hour to get into the down move. 159 downside pips.

EURGBP – We were looking long and no entry as price kept breaking lower.

GBPAUD – Price ranged at highs

GBPJPY – We were looking long and pullback on the four hour chart was ugly. Entry is break of down sloping trend line that lead to 135 upside pips

NZDCAD – No pop up to trade

When you have pairs trading inside the previous week range, you get the opportunity for both directions. 560 pips potential this past week helped along by a few pairs with long and short positions.

We are not having clear runs in prices so far this year with price jumps coming out of nowhere and then subsiding. This has given many charts that are difficult to trade off of on the daily timeframe. The pairs for this week, were the clearest of the bunch.

AUDCHF
AUDCHF
CHFJPY
CHFJPY
EURAUD
EURAUD
EURCAD
EURCAD
EURGBP
EURGBP
GBPAUD
GBPAUD
GBPJPY
GBPJPY
NZDCAD
NZDCAD

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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.

    Best

  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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