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Free Forex Weekly Trading Setups

May 29 – June 3


AUDJPY – Once price broke the trendline with a solid bull candlestick, the four hour chart came into play. Momentum out of a slight consolidation was a buy on May 31. Price ran 212 pips to highs.

EURUSD – Short played out for 100 pips downside before a rally.

GBPCAD – Short was a great setup that fell for 328 using a break on May 24 low as entry.

GBPNZD – Downside continued

USDJPY – Simple trigger of break of highs on the four hour chart for a 339 pip run.

142 pips potential last week with too much ranging price action.  Tough conditions the last little while and this recent rally has traders unsure if it is a recovery or a short lived bounce in the overall market.  We need to see sustained trending movements to get some decent price action that screams for attention.


May 22 – May 27

AUDUSD – Price continued to rally

EURAUD – Price ranged

EURCHF – Price ranged

GBPUSD – Break to the upside for 142 pips potential

USDCHF – Price didn’t rally for a short

The world is still in turmoil but you can still make money trading.  Although 190 pips potential last week doesn’t seem like a lot, remember that position sizing is what it’s all about.  Find a setup, have an entry trigger, and enter a trade.  Too many may see some setup but have not defined what their entry trigger is.  This is a good article about ways to enter a trade.

Far too many currency pairs are not showing good price action on the daily chart.  They’ve not for a while.  You can do a few things including looking at weekly chart or lower time frame intra-day trading.  For me, I will stick with my daily chart and continue to take trades that fit my criteria and follow my management protocols.  Consider doing the same.


May 15 – May 20

AUDJPY – No upside trade

EURAUD – Got our pullback but not entry to the upside

EURCHF – A short lived long off the break of an inside bar for 58 pips. However, this move higher from the lows of March was actually a higher time frame complex correction. Once price failed to make new highs, short below a break of May 12 low for 132 potential.

EURGBP – Price broke down

622 pips potential last week with AUDJPY showing a perfect bear flag formation.  Flags are one of my favorite chart patterns to trade.  This week we have some decent pullbacks shaping up but in the markets of today, anything is possible.  Be a risk manager first, take the easy profits, and don’t try to be a hero.


May 8 – May 13

AUDJPY – Perfect bear flag and potential 468 pips to the downside.

BTCUSD – Continued to decline

EURCHF – The chart shown was the weekly chart and price rallied into our zone. 67 pip breakdown

EURUSD – Price continued to the downside

GBPJPY- Price broke support

USDCAD – As written, this was a resistance zone in a range and price rejected for 87 pips

USDJPY – Price failed to rally

Markets across the board are not in great shape but last week still had potential of 558 pips.  With so much uncertainty and central banks playing with interest rates (one of the drivers of the currency markets), we don’t expect trade opportunities to be a large amount.  Added Bitcoin this week which is at a point for a short term long trade.  As always, respect your stop loss and don’t be afraid to cut your trade if momentum steps in against your position.


May 1 – May 6


AUDJPY – Price formed a complex correction during the week.

EURAUD – Was looking for an upside break that didn’t come. Price far too erratic

EURJPY – Price formed a trading range

GBPJPY – Price dropped 197 pips after the pullback

GBPNZD – While this chart initially set up for a long trade, the failure test of the highs was an entry short for 361 pips to lows

While the overall markets are in turmoil, our setups from last week did well.  979 pips potential last week but of course you would not get all of those.  When you have multiple setups with the same currency, you have to determine which one you want to trade.  Using the average true range can help you narrow down which pair has the most potential for bigger gains.


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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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