Signals/Setups Published for: Jan 27 – Feb 1 2019
4 Forex Signals/Setups 0 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.
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
- Trend line can be used for entry on 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 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 setup for a potential trade.
As the Forex charts are set up when the market is closed on the weekend, price may evolve differently than anticipated.
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 signals. 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
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 opportunity 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
Jan 27 – Feb 1 – 2019
We had many pullbacks fail into a range instead of reversing. Potential pips of 299 was still decent considering the limited amount of opportunity that was posted.
Still waiting on the markets to heat up and when they do, long term viewers of these trading setups know that the amount of pips that become available to traders, is very good.
CHFJPY
EURAUD
GBPCHF
NZDCAD
Jan 20 – 25 – 2019
How did these charts play out?
AUDJPY – Great example of a pullback failure. What this means is we were getting the pullback we wanted, but it resovled into a range instead of reversing. Now, you would look into a breakout type of strategy as playing the pullback, is off the table.
AUDUSD – Price pulled back to the downside with no real momentum in the pullback. This is a great sign for another chance to the upside. Price came into an area os support that previous resistance. This is our sign to head to the four hour chart to see if bulls are stepping in. A failure test trade entry set up and price rocketed 85 pips upside
EURAUD – Price popped up to the area of the red line on the chart. The short move happened for a potential of 99 pips
EURJPY – Price continued to range
USDCAD – We got the leg down from the lazy pullback for 115 pips
USDJPY – Pullback resolved into a range.
No risk was put on with regards to the pairs posted last week. Lazy price action continued without giving any triggers. This is one thing that people have a hard time with when it comes to daily charts – the setups/triggers take longer to develop.
This is probably one of the worst performing starts for trading I’ve seen. Patience is key.
My trend direction is still intact and the price action has changed the directions I am looking – yet.
If you found yourself itching to trade this week:
1. Daily charts are not for you
2. You are trading for the wrong reasons.
AUDJPY
AUDUSD
EURAUD
EURJPY
USDCAD
USDJPY
thank so much !
Hello, Happy new Year and thanks for your help. It’s possible for your you to tell us the daily trend for your pairs you gave us? this iformations will help us more. Thanks again and wishing you the success.
That’s assuming I use the daily trend. 🙂 I could use a weekly trend or even a directional bias as opposed to trend bias. The information I put on the chart should be enough for you to know what the trend is I am trading. Shorting….means down trend/direction. Buying….uptrend/direction.
Happy 2019. Hoping you have a great year.
i used the failure test on the EN chart from the 4 hour chart like you wrote and my trail stop was above high of red bar after thrust down. I did not get all of the move but 208 pips one trade. Was that good you think? You are right because the other charts did not do to much.
Hi Clarin and happy 2019 to you as well.
The failure test certainly was aided by the momentum move from lows to break highs. Generally, especially a range, if price thrusts up from the bottom of the range (or lows in this case), the moves are often times short lived. This gives rise to the failure test (upthrust) and immediate reclaiming of lower price.
The trailing stop is fine. If you go back to the daily chart, you will see a measured move of 1:1. Jan 3 high to low of Jan 7 projected from high of Jan 10 comes in around 1.6752. Good job!
did you short the EURNZD and what was the outcome ??
This blog is not a documentation of my own trading and rarely comment on any move I make in the market. I do post up from time to time trades where there is something to learn. My swing trade is currently a long in Natural gas since Thursday.
You helped turn my tradin g around in 2018 after 4 years of hit and miss. I wish for you a best 2019 and blessings for your life. Thank you
Hey Benny! Awesome to hear! You take all the credit my man, I just gave you a path.
it is impossible to see the prices on your charts so how does one uses them ?
It’s not the prices that are the most important thing. These are daily charts and it’s the action and market state we are looking at. Bring up your charts and look for the same type of pattern or chart formation. You can, if price is important to you, open in a new window and zoom in. You can compare yours to mine and see a relationship, no?
Thanks for sharing. I’m certainly a beginner, i was looking to see BUY or SELL a particular pair. how do i know which pair to buy and which to sell.
Hey Bill
Beginners may have an issue at first but you will quickly get the hang of it.
Take the first chart, the AUDCHF: It is calling for shorting which would be selling the AUD and buying the CHF.
In essence, I am looking for eventual AUD weakness against the strength of the CHF
This site is much different than the others. I lay out my technical look at a currency pair, in the above case selling the AUD from a pullback in what is a downtrend on both the daily and weekly chart. Other context is in play but is far too much to go into here. You will see it on the charts at times and at the end of the week.
I don’t think holding hands is a good approach. You have to find your way around the charts, how to enter and such…and this site is an excellent resource (so I am told).
Not saying I am always right (I’m not) but my approach is different.
Like I mentioned, it’s different. I remember months ago in this very comment section (some of you may remember), one visitor was mocking me for wanting to buy the EURUSD when “everyone” wanted to short. Didn’t take long before the “everyone” was on the wrong side and the EURO jumped upside.
You can read about it here: http://cryptobinaryforex.com/selection-comments/ and here http://cryptobinaryforex.com/do-your-own-work/
Thanks for your effort in educating us, this is one of the sites that I cherish alot because its fully loaded. My observation is that you have brought to bear those pairs that traders most times neglect or thinks that not much can be gained from. Thanks a million you are truly a Mentor
Thanks. I don’t write many blog posts anymore because I think the weekly setup charts are much better.
As for the charts, I actually look at non-US crosses first as they are not as affected by U.S. news. I make much more trading those as opposed to any USD cross.
I look for pairs that are demonstrating moves that have a true edge in the market and the context it forms in. What I look for is truly evident in every chart I post.
How do you select/filter the pairs for the week of trading? I’m working to minimize the amount of time on the weekends upon technical analysis.
Thanks,
J
I know what I am looking for on the chart and have been doing it for well over a decade. Stick around or check the archives, you will see the same approach every week and the explanation of how price played out on the next update. Thanks for coming by!
Thanks so much! I’ve already learned a lot from the site. J
Thanks for saying it Juan! I am happy to hear from those who are getting something out of my work!
Thank you for the signal…I will follow and see if they trigger or not….Also, I will like to see if the Trend reverse or it continues as suggested after the supposed PullBack…Once again, Thank you for posting.
Thanks for reading. Well, it is not a supposed pullback, that is what price is doing. If momentum steps in to the upside or the pullback ends up in a range, the pullback has failed. The range can still be played but the momentum not so much. As for trend, you have to know which trend you are referring to and how you quantify trend.
please sir,
the signals are for which day of the week and at what time?
Thanks
Hi Emma. I suggest you re-read the introduction on the setup page: http://cryptobinaryforex.com/forex-trading-signals/
These are swing trades and not specific to any day of the week. These can trigger in on Monday and run the whole week or fail to setup.