Forex Trading Signals & Alerts For This Week

Hello Traders,

here are  some potential forex trading signals /trade setups that are happening which I will be watching this week.

#1: Potential Buy Setup on EURGBP

• You can see on monthly chart there is a major support level.
• this level has been tested and price shot up as can be seen on the daily chart.
• But now price is heading back down and it may do a retest (see daily chart).
• So watch for bullish reversal candlestick  to buy.
• The failure of this support level may see price continue to fall down.

#2: Sell Trade Setup on NZDUSD

• This is pretty straight forward: a descending triangle chart formation and price is heading up and nearly reaching the downward trendline.
• Wait for the touch of the downward trendline and look for bearish reversal candlesticks to short it (sell).

#3: USDCAD Potential Sell Setup

• Price is near the downward trendline as can be seen on the monthly chart.
• Switch to the daily or the 4hr or even the 1hr charts to see if you can see a bearish reversal candlestick to go short if price hits the trendline.
• Note also that price confluence is also at  play here…trendline & see those blue square boxes…support turned resistance level. ( I’d be very closely watching this setup to get in).

#4: Potential Buy Setup AUDUSD

• This is fairly easy…price may head up and hit the downward trendline.
• so watch for a bearish reversal candlestick go short.

#5: Potential Buy Setup On EURJPY

• Price is heading down to the upward trendline.
• watch for bullish reversal signal to buy.

HOW TO TRADE THESE SETUPS

• As you can see, these trading set-ups are happening in the monthly, weekly and daily time frames.
• They way I trade these kinds of setups is switching to smaller timeframes to get better trade entries, timeframes  like the 4hrs, 1hr and even down to the 15 min timeframes.
• Risk:Reward for such setups are really good if trade goes as planned. Having said that, these level and lines are not drawn in concrete…so they may get broken so also be mindful of that and be mindful of how much risk you are taking on each trade if it happens.

Guys and Gals, Please don’t forget to tweet, like or share this post by clicking those buttons below if you enjoyed this. I would really appreciate that.

Thankyou.