Weekly Trading Setups

Signals/Setups Published for: Nov 28 – Dec 4 2021

3 Forex Setups / 2 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

Nov 28 – Dec 4

Huge potential last week as some of the setups ran strong.  900+ pips potential on some huge moves.  What that does is give us extended markets where we don’t want to jump into a position.  Too many to add but if you are looking at your setups with huge candlesticks, look for a pause in price action before making your move.

Crypto is up with both ETH and BTC finding price coming into support.  Looking for buy points to increase the crypto holdings.

BTCUSD

ETHUSD

EURJPy

GBPCAD

GBPUSD


Nov 21 – Nov 26

Results

AUDJPY – Price made lower highs into support and ranged slightly above it. That is bearish. Playing the break short off the four hour range had you positioned before the break. 217 pips to the downside potential.

ETHUSD – No continuation above the breakout

EURAUD – Price had 69 pips to the downside before roaring off to the upside

EURGBP – As noted on the chart, it was setting up for a trade to the upside. Break off support higher lead to a 92 pip run in price

EURJPY – Upside in price but there was no entry long

EURUSD – No entry

GBPAUD – Nice move to the upside for 190 pips potential

GBPCAD – No buy on the potential bull flag as price broke lower. Price move down was too strong for me to look at a buy.

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GBPNZD – 360 pips upside from the pullback

USDCHF – Price collapsed

491 pips last week potential last week. This week, we are heavy with GBP setups so pick the one that looks the best for you.  ETHUSD steps into the lineup this week.

Quick lesson 1:  after a momentum move in one direction that is not an exhaustion type of move, along with basing near its highs (or lows for shorts) is a strong candidate for continuation.

Quick lesson 2:  when seeing an extended pair that has a larger that previous candles as the last candle, you can look for a counter trend trade.  Just make sure you are quick to take profits.

AUDJPY

ETHUSD

EURAUD

EURGBP

EURJPY

EURUSD

GBPAUD

GBPCAD

GBPNZD

USDCHF

 


Nov 14  – Nov 19

Results

AUDJPY – Price made a brief move up for 60 pips on the break upside and then dropped to new lows.

BTCUSD – No entry

EURAUD – Price broke lower for 150 pips and then rallied.

EURGBP – Price broke lows with strength setting up to the downside. Small range on the four hour chart gives you the entry for 142 pips. When faced with an obvious bearish candle as seen on the break, forget buying.

GBPNZD – Price broke to the upside with strength. No trade.

USDCAD – Trend line break entry on the four hour after a pullback on the daily chart. 139 pips

Capped the week off with almost 450 pips potential and a Bitcoin jump of $4700.

Four Forex setups this week and looking to buy Bitcoin.

Quick lesson:  Don’t always assume that support or resistance is going to hold.  We would rather see a sound rejection of those levels if we are thinking of trading a bounce.  If price ranges at those levels, assume they are going to break until proven otherwise.

AUDJPY

BTCUSD

EURAUD

EURGBP

GBPNZD

USDCAD

 

 

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