Next is EURUSD where you can wait for a retracement at this demand area. I don’t recommend you to sell since it is not located at a good supply area.
On Gold, you can either try to sell at this price with the SL above the current high, or wait for a retracement around this demand area and buy to follow the new buying trend.
Waiting for a retracement to sell USDCHF and follow the selling trend. The target is quite high so better to trail it right after +50 pips of profit.
I found myself quite grateful when I know most of the setups were great last week. Sell and buy on GBPUSD, Buy on EURUSD, Sell on USDCHF, and a loss on Selling Gold setup. Still, a good risk-reward although we suffered more than 100 pips of losses on Gold. FreshForex congratulates those who followed the setups.
Moving on to this week setups where I found some of good setups to watch this week. First of all is EURUSD where you can wait at this area for a selling opportunity. You also need to look for the USD index once the price hit this area.
After a failed setup last week, we just need to look for buying opportunity from the retracement, I will wait at this area to buy.
USDJPY is quite beautiful with the compression setup that is happening this moment. Just wait for the price to hit this area or wait for the price to break the trendline. The choice is yours.
Another reminder to wait for GBPCHF at this Quasimodo area. The price is still far so you can look for buying opportunity at the moment. Currently, I haven’t found any good buying setup.
Such a great selection of charts! The best thing is the way you have summarized all the information. If I was doing it on my own, I would not have been able to come with this analysis. I will take help from these and compare them with my own charts to make the decision.
Thank you for your concern about my posts here and please prioritize your version first and take my point of view with grains of salt. I also collected some points of view from several naked charters I’ve known for confluence.
This week we will take a look at some GBP pairs. You can wait some of them for confirmation and zoom in for better trading precision. First is GBPUSD where you can try to instant buy at this demand area as the price is still on an uptrend.
Another one is GBPJPY where I will wait for a retracement since the price itself is still in a strong uptrend. Be wary, strong decline movement is another consideration to cancel the setup.
A bit different, you can wait a bit longer for GBPCHF for a selling setup. Quasimodo level is confirmed and just need to wait for a better price action later.
Another one is EURGBP to wait for further confirmation. at the current moment, I can only see 3 drive approaching the demand area. A compression near the demand area would support the setup better.
Also don’t forget to take part to FreshForex weekly webinar where more trading pairs will be discussed there along with some cryptocurrencies as the price is having a major downtrend change.
This week let’s see some pairs that might be good to trade either short/long terms. First is GBPJPY where I can only see a continuation pattern rather than trend-changing one.
Same goes to GBPAUD where you can wait for a retracement to this demand area. So far, I haven’t see any proper supply area to sell, so let’s just follow the trend at the current moment.
You can either wait for a buy setup before the price of GBPNZD reaching this supply area, or just wait for a proper price action when the price hitting the area and confirming better sell later.
Another one is EURUSD where I’m still waiting at the higher price point as the supply area I marked there. It can be a good long term trade if the price confirmed to drop later.
Also don’t forget to take part to FreshForex weekly webinar where another pairs (especially other major pairs) will be discussed with simple analytic tools. See you there!