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Free Forex Weekly Trading Setups

Jan 17 – Jan 22

How did these do?

NZDUSD – Price got close enough (20 pips) to our measured move down target where we expected the down move to halt. Price drove off lows and gave us a four hour chart pullback. Break above pivot high lead to 88 pips to the upside.

NZDCAD – We were looking short on a pullback and while we did get our pullback to our zone, there was no trigger short as price remained strong to the upside.

GBPNZD – Price based under resistance which is bullish. Four hour chart as noted on setup chart. Breakout pullback for 133 pips to highs. Price took out Dec highs which we were waiting for. Expect resistance when that occurs. Short under failure test of highs is a 169 pip run. Traders also used a break of a four hour trend line for entry.

GBPAUD – We did get a breakdown on the four hour chart but there was no entry. Refer back to GBPNZD for the type of rejection we look for at support/resistance zones.

EURUSD – Euro held strong in this zone and obvious daily candle reversal lead to 102 pips upside.

EURJPY – Nice run up but we had no entry either upside or downside.

BTCUSD – Price came right into the low of the inside week which presented buying opportunities. Price rallied $5000.

AUDJPY – We were looking at longs but price broke the other direction.

AUDCAD – We wanted to play the range and price was at the lows of the range. While there was upside, there was no clear entry to get involved.

The whippy price action this past week with quite a few long shadows which can make it difficult to enter trades. Bitcoin had a run of $4800 before stalling and our Forex setups ran for combined 313 pips. I know many of you are looking for entry positions in Bitcoin to hold and these pullbacks, however slight, can be good opportunities. That said, BTCUSD set up an inside week last week and we need that to break to get back to the clean trends we have seen.

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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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