You will get “zones of opportunity” and a brief commentary stating what could happen in the zone. Remember though, price action will form and could change the commentary if I updated during the week – which I don’t.
For example: If I call for a potential short at resistance, what would a failure of that look like?
Price could base below resistance which is a bullish sign
Price could break resistance, muted pullback on what could now be support for a long trade
Price could simply break and not look back
Knowing what the failure will look like gets you one step ahead as other blindly play a short. Once they realize they are wrong-footed, their actions could help propel your trade!
I am using what is presented at the time. Things change. As a trader, learn how to adapt to changing circumstances and you will be light years ahead of the competition.
Higher Time Frames?
I do take into consideration the weekly charts.
While you may be seeing an uptrend on a daily, the weekly could be showing me a downtrend using market structure and I will use that to base my outlook.
In clear markets where we have a trending pattern, I may not pay attention to the higher trend but will look for exhaustion in price which will influence my outlook. I use multi-time frame trading
ANYONE CAN SAY “BUY HERE OR SELL HERE”…(AFTER THE FACT)
With these Price Action signals, you will be able to see the “BEFORE” and “AFTER” results of my analysis, like this below which is the GBPJPY trading setup I posted and how price has hit the trend line and moved down 160 pips already:
Now, it is good to study PRICE history so that you can learn what can “potentially”happen in the future.
But here’s a fact: price history wont make you money. It just gives you the knowledge.
The application of that knowledge to what is happening at the present- price patterns, candlesticks etc and anticipating what kind of outcome these will cause and taking trades based on that analysis…that is what is going to make you money (and throw proper Forex money management into this mix as well).
The next reasonable step would be to actually show you what is happening in REAL TIME regarding price action trading and so you can see how these trading setups are forming and how price reacts to each setup etc.
and also show you how you can trade those price action trading setups and what kind of price action trading strategies to apply in each case (nothing is always the same).
So that’s how the free forex signals idea was born. That’s the story anyway, in case you are interested.
Now, that is not the main point I’m trying to get to you here. As a matter of fact, I’m about to tell you how to trade these forex signals.
4 THINGS YOU NEED TO KNOW ABOUT THESE FOREX SIGNALS
I tend to focus on the big picture which means I’m looking for price action trading setups that are forming in larger timeframes like the monthly, weekly, daily and 4 hr timeframe.
Based on that, I ask myself this question: is this setup likely to happen this week? If the answer is yes, then that will be a price action signal that I will post. If the answer is no, it won’t be posted even though it is still a valid setup forming BUT IT IS TOO FAR AWAY and the chances of it forming during the week are zero. So the sums of all the “yeses” are those forex trading signals that you see posted every week. Some weeks, there can be 3 forex signals only. Some weeks, it can be 10 forex signals to watch.
So if you are looking for daily forex signals, you’d be totally disappointed because I’m not really looking for 10 pips a day sort of trading style. I’m looking for trading setups that have the potential to go hundreds of pips in profits with less risk, which simply means trading setups that have really good risk:reward potential.
IS THE FOREX TRADING SIGNALS SENT DAILY OR WEEKLY?
Its a weekly forex signal. You can check the page for my daily signals
In the weekly signals will give you all the potential price action trading setups and signals that are most likely to happen during the week.
On rare occasions:
I may post a trading setup I had missed
or a trading setup that I thought would most likely happen in 2-3 weeks time but because the price has moved too quickly, that setup may now be closer to being traded.
How Many Forex Signals Do I Expect To Get?
Depends on the price action setups that I see and if they fit the conditions I mentioned above.
You may have 10 setups to watch in a week.
Then you may only have 3 setups to watch during the following week.
Or you can have only 1 signal in another week or sometime, you may have none.
As I said, it really depends on the setups that I see and I only post the setups that I think will have good risk:reward, like 1:3 and above.
HOW DO I INTERPRET THE TRADING SETUPS IF NO ANALYSIS COMMENTS ARE WRITTEN? HOW DO I KNOW HOW TO TRADE IT?
The forex trading signals charts always have sufficient information/clues as to what type of trading setup is being formed and based on this setup, it is easy to figure out what type of forex trading strategy can be applied to it.
In any trading setup chart you will see, there’s got to be:
These alone should be sufficient to give you the clue you need to trade a setup.
Let me give you an example:
if you see a chart with 2 trendlines pointing in different directions and also price is near to one of the trendlines and you have 2 arrows pointing in different directions but there is no explanation.
It is just that plain chart with 2 lines and 2 arrows….how do you know what trading system to use to trade this setup? How would you interpret that price action trading setup?
If you were given this chart above and I didn’t write anything telling you what kind of setup this was and how to take this trade setups then you should be able to figure this out yourself based on the two trendlines and the 2 arrows.
The main question you should be asking is this: What is happening here on this trading setup?
Based on that question, this should be your interpretation:
I can see that price is now near the bottom trendline, therefore, two things can happen as shown by the two arrows pointing in different directions, price can hit the trendline and bounce back up or price breaks that trendline and head down.
here’s also time when there will be price action trading setups based on chart patterns and that’s when you need to familiarize yourself with the following chart patterns forex trading strategies like these below:
So it is better for you to familiarize yourself with these forex trading strategies listed above.
As I said, the chart analysis I do will instantly tell you how to trade a particular forex trading signal/setup and what kind of forex trading system to use in each case and most likely, one of these strategies above will be used.