Weekly Trading Setups

Signals/Setups Published for: Oct 10 – Oct 15 2021

Forex Setups / 1 Crypto


If you are looking for Free Forex trading signals and setups every week, this is the page to bookmark.

You can find the setups below and they are posted every week, by Sunday evening.

I don’t publish daily Forex signals because my experience (and many others) is that swing trading Forex offers the most bang for your buck.

Many have said these are the best Forex signals because there is a learning component to the posted setups and the recap.

I use what has proven to work in Forex trading:  mean reversion and momentum-based setups.  There is an actual edge in using these two methods that can be quantified.

There is an edge in mean reversion and momentum trades and that is where I will continue to focus.  As you’ve seen, you can short alt currencies and Bitcoin in the right context but most traders would be better to continue with the trend.

These are daily price charts

Some things to help you understand the charts:

  • Consolidations are considered to be pullbacks and ranges on the posted charts.
  • Ranges and pullbacks are treated differently in terms of trading them
  • The trend line can be used for entry on the break but I do not follow them for support or resistance
  • Horizontal support and resistance are pivots areas
  • Momentum thrust is a sharp move in price
  • Basing is when the price is ranging sideways – usually used to explain price action after a momentum move
  • Basing at highs or lows of the momentum move are continuation patterns
  • Failure tests are thrusts up or down through a level and immediate reclaim of previous price zone
  • I prefer to see pullbacks with low momentum in the corrective phase

As always, all of these free Forex and cryptocurrency setups are based on price action, price structure and may result in trading opportunities.

These setups use technical analysis to determine if a chart is set up for a potential trade.

As the Forex charts are set up when the market is closed on the weekend, the price may evolve differently than anticipated.

It is impossible to give entry and exit prices because these are not updated on a daily basis.  As price evolves, so does the entry.

The beauty of price action Forex trading/cryptocurrency trading like this is you are not waiting for a lagging technical indicator to flash an entry signal.  You can see, in advance, the setup that we are looking to take advantage of.

  • We are reactive to price action in these areas
  • We do not attempt to forecast although an idea can be helpful
  • Don’t get blinded by your opinion
  • Price rules your opinion
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While some of you may choose to scalp or day trade the foreign exchange market with these free setups, please note they are designed for a swing trading approach.  Lower time frames may also present opportunities using these charts for context.

Please be fully aware of your overall “risk appetite” when it comes to your trading account and your Forex broker margin rules.

Note that all recaps are best-case scenarios in terms of totals.  Every trader will have different entry and exit points and the recaps show potential and not necessarily totals obtained by the author.  The author does trade the posted setups and others dependent on evolving price action.

Forecasts presented in this section only reflect the author’s private opinion and should not be considered as guidance for trading. This site bears no responsibility for trading results based on trading recommendations described in these analytical reviews.  You must understand Bitcoin and cryptocurrency trading in general before trading that market.

You can also visit:  How To Trade The Free Currency Trading Signals

Archived Setups

Oct 10 – Oct 15

955 pips potential last week as currencies made some huge runs.  That just brings us a week where price is either extended or has turned into a trading range.  This weeks setups include Bitcoin which is basing just under a pivot.  Hard to get in on the daily chart when price is running so here is the chance.

CADCHF

CADCHF

BTCUSD

BTCUSD

CADJPY

CHFJPY


Oct 3 – Oct 8 – Updated

AUDJPY – Upside break for 126 pips hitting the noted target

CADJPY – Price broke long for 209 pips

CHFJPY – No breakdown happened and missed the long trade. There was over 140 pips available on this trade.

EURCAD – Simple support holding or failing trade…and support failed with a drop of 232 pips.

EURCHF – The bigger pullback didn’t happened but a clear one on the four hour chart. Breakdown short gave 70 pips.

EURGPB – No long trade triggered

EURNZD – Price ranged.

EURUSD – 63 pips downside as price rejected our red line almost to the pip.

NZDCAD – Bear flag formed and rejected for 115

NZDCHF – Price ranged

Pretty good week last week considering the overall market was not too hot.  648 pips potential.

This week, we have some pairs at areas of potential reversals and others that need some more price action.  Ensure you have a trigger to enter the trade.  This is why we use a four hour chart for most of our triggers.  Check the USDJPY from last week and you can see the benefit of using a trigger chart.

AUDJPY

CADJPY

CHFJPY

EURCAD

EURCHF

EURGBP

EURNZD

EURUSD

NZDCAD

NZDCHF


Sept 26 – Oct 1 – UPDATED

CADCHF – Breakout to the upside for 68 pips

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EURCAD – Downside breakout for 144 pips

EURNZD – Upside breakout for 163 pips

EURUSD – Was looking for support to hold but price broke through.

GBPAUD – Was looking long but price broke lower

NZDCHF – Long or shorts were in play and we got a downside move for 64 pips

USDCHF – Wanted a bounce higher which happened for 107 pips

USDJPY – We were looking for a break long which we got. This is an example of why a four hour chart entry is used. Price broke resistance, a four hour pullback, and break higher. You would not have seen it on the daily chart. 102 pips

169 pips from our setups last week.  There are not a lot of great setups right now.  Markets are in choppy conditions with very little trending moves on the daily charts.

These setups are better traded off the four hour chart.  We can see some of the charts already have large price moves.  You need to see a pause or even a pullback if looking to trade in that direction.

CADCHF

EURCAD

EURNZD

EURUSD

GBPAUD

NZDCHF

USDCHF

USDJPY

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