Price Action Forex Trading Setups May 25-29th

Hello Traders,

here are some forex trading setups that are happening…this are all based on price action trading using support and resistance and trendlines.

They may form this week or next week but regardless, they are worth watching.

#1:    EURGBP BUY TRADING SETUP

• notice there’s a support zone and price is heading down to it.
• if price does go and touch this support line, it may bounce back up.
• watch for bullish reversal candlesticks to buy.
• you can trade off the daily, 4hr or 1hr timeframe

#2: EURJPY BUY TRADING SETUP

• Notice that price is headed to back down to the broken trendline.
• Once characteristic of broken trendlines is that price uses them to bounce off them
• so there may be a buying opportunity here if price hits that trendline and bounce back up again.
• so watch for bullish reversal candlesticks to buy if price hits that broken trendline in the daily, 4hr or 1hr timeframe.

#3:  GBPCHF SELL TRADING SETUP

• Price is heading up to the downward trendline
• if that happens, watch for a bearish reversal candlestick pattern which may signal a downward bounce and that should act as your signal to sell.

#4: USDCAD SELL TRADE SETUP

• there’s a previous broken support zone seen by 2 blue lines below and when price hits them later, they tend to act as resistance level.
• look for bearish reversal candlesticks to go short on the daily, 4hr or the 1hr.

#5: NZDUSD BUY TRADING SETUP

• Notice price is heading down to a support level.
• this may provide a level or zone for price to bounce back up.
• so watch for bullish reversal candlesticks to go long in the daily, 4h or 1hr timeframe if price heads down to this support level.

#6: GBPJPY SELL TRADING SETUP

• This setup is happening in the monthly timeframe and notice the price is heading up to a previously broken support level which in my opinion might act as a resistance.
• look for bearish reversal candlestick if price reaches that level to go short (sell).
• it may still take a lot more weeks for this sell trade setup to form but keep watching it.

#7: USDJPY SELL TRADING SETUP

• this setup is also happening on the monthly timeframe and may take a while before it happens but its worth watching.
• notice that price is heading up to a previous broken support level which might act as a resistance level.
• watch for bearish reversal candlesticks to go short in the daily, 4hr or 1hr timeframe.

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