Most of the setups last week worked but on Gold. But such losses are pretty much recovered by other setups. FreshForex has this specific topic about risk-reward ration on the educational section on their website.
Seems like USDCHF is about to changing the main trend here. Just need to wait for a better retracement for a buying setup.
Now you can try to buy GBPJPY as the price is in the demand area. Look for a pinbar or a bullish engulfing.
You can also try to buy EURJPY as I can see price is at the significant Support/Resistance area. But be sure to look for a confirmation on the smaller timeframe.
For those who took the sell on NZDUSD, this demand area is our primary target that later we can look for a selling setup.
This week’s webinar on FreshForex will be talking about some technical stuff, including retracement for safer trading. Don’t miss it!
This week on EURGBP we can see another retracement to be expected to this demand area. Another buying opportunity with the target of the previous month’s high.
USDJPY, on the other hand, is still on its sideway move. I’m expecting a price action to be happened around this demand area.
USDCHF was moving bullish really good. Expect a retracement with a good price action later towards this demand area.
As for GBPCHF, this one is a good long term trading setup where we can expect a buy after a breakout if the price does this chart pattern.
Some setups last week are quite random in terms of price action approached the areas. One thing for sure is that we don’t recommend putting limits on our setups as the approach may vary and unless there’s a price action detected on said setup. FreshForex provides the education on price action for the supply-demand theory that you may expect on their weekly webinars once a week.
Now we are off to EURJPY where a buying potential can be taken from this point as the price did a fakeout price action last week. With SL points around 60-70 pips, you can expect a double as the reward.
Another buying setup is GBPAUD where we can wait around this demand area and its price action approaching later. Just make sure to not put a buy limit here before any price action to confirm.
The same setup applies to GBPNZD that we just need to wait for a price action to approach the area. Just wait and see for this one.
There are two areas to wait to make another sell for EURGBP as the price broke it on the previous setup I posted here. Again, no buy limit, just wait and see…
On the previous webinar, FreshForex teased us about Quasimodo pattern that can be good for mid-long term trades along with the price action confirmation approach on it. Hereby are some good continuation setup that I have found on higher timeframes.
On November, we can see that the final candle of AUDUSD engulfed the October one. This is the first assumption that we can look for another long term sell.
This is the follow up on lower timeframe. We can see it pretty obvious that this made a Quasimodo pattern for another long term sell. In the meantime, we can also look for a buy setup before taking this one.
As well as NZDUSD that we can see on Monthly chart right here. November candle closed with an engulfing candle from October one.
