Free Forex Weekly Trading Setups

Jan 2  – Jan  7 2022

Results

AUDJPY – Price pulled back with momentum. No trade.

BTCUSD – No long enter as price broke downwards. Traders shorting BTC had a $5000 run

EURGBP – No pullback. Although price did consolidate briefly, there was no short trade.

EURUSD – Price continued to trade inside the channel

GBPCAD – Perfect long setup off of a support holding trade. Failure test entry on four hour or trend line break entry on four hour. 190 pips upside.

GBPJPY – Jan 3 saw price break the previous low but close off of the lows giving a reversal candle. Simple breakout of high of the day led to 180 pips upside.

NZDUSD – Price broke to the downside. No trade

USDCAD – Price reversed out of the complex pullback for 80 pips

Happy New Year.

Starting off the year with 7 currency setups plus Bitcoin.

The final trading week of 2021 gave a potential of 398 pips.  We have some extended price action on some pairs.  With extended price, a large move, I want to see either a pullback in price, a triangle pattern or simply a rectangle trading range.  This gives time for the price action to be digested, profit taking, new traders entering the market, etc.  Within those patterns, I would like to see higher lows forming inside the pattern for longs, or lower highs when looking short.

Yes, you can trade single reversal candlesticks such as long tail candles, but I do prefer seeing a multi-day/week pattern.

AUDJPY

BTCUSD

EURGBP

EURUSD

GBPCAD

GBPJPY

NZDUSD

USDCAD


Dec 26 – Dec 30

Results

AUDJPY – Support held and continued to the upside. No trade.

AUDUSD – Price ranged

BTCUSD – Price continued to the downside

EURJPY – Price broke to the upside with strength which removed shorts from the plan. Dropping to the four hour had the pullback and range breakout to the upside. 108 pips potential

GBPAUD – No trigger upside.

GBPJPY – 225 pips to the upside after Xmas. Four hour chart entry on pullback. Traders that missed the first entry, had another range break on the four hour chart on Dec 29

GBPUSD – Strong move occurred and using four hour chart for entry. Price broke highs and pulled back setting up a trigger for 65 pip upside.

USDCAD – Price collapsed to the downside

Surprisingly 404 pips in a holiday shortened week last week.  AUDJPY was a great example of an outside bar (expanding range, megaphone pattern, broadening formation) and how you can make money trading both directions with those. This week, we have 7 potential plays and maybe Bitcoin looking to start the year off with some upside movement.

AUDJPY

AUDUSD

BTCUSD

EURJPY

GBPAUD

GBPJPY

GBPUSD

USDCAD

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