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Free Forex Weekly Trading Setups

Jan 10 – Jan 15

How did these do?

BTCUSD – Price was in our zone on Sunday night and pushed up with momentum. We got a pullback and broken trend line entry on four hour chart. Price ran for $4800 before pulling back

CADJPY – Price rejected at highs and trend line break on four hour entry leads to 65 pip drop to lows

EURJPY – Price continued to pullback with no shot to the upside. Price pulled back into the range and this pair off the table for any other trade. It did break downside however and shorter time frame traders would have had a short.

EURUSD – Price smashed into and through our setup zone. Too much downside momentum for a long and no trade entry for a short.

GBPUSD – We were playing this as a bull flag and price piercing the lower side of the flag and rejecting is the trigger for these trades when you get a channel. 198 pips to the upside before stopping.

NZDUSD – We got our pop higher and short-lived as price ran 50 pips before failing.

USDCHF – We wanted to play the upside pop as noted on the setup chart but the price action didn’t give us an entry.

USDJPY – We got everything we asked for in this setup including two sided action. There was no trade trigger into either of them.

Not a bad week last week with 586 pips potential.  Plan to make 2021 a better year than last year for your trading.  That includes ensuring you have a trading plan that you can “wash, rinse, repeat” on every trade you take.

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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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