Category Archives for Free Forex Trade Setups
Price Action Setups – USDCAD Setting the Stage for a Move?
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By
Justin Bennett
- / May 27, 2014
One pair I’ve been watching for a while is USDCAD. The pair provided a lot of price action setups late last year, but for the past few months it has consolidated into this bullish wedge pattern. The wedge was broken on May 20th and I figured we would see a move higher. Instead the pair […]
Continue ReadingPrice Action Setups – NZDUSD, AUDJPY and USDCHF
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By
Justin Bennett
- / May 26, 2014
Not a lot of action in the Forex market today with the banks closed for the US holiday. The rest of the week should be much more telling for the levels outlined below. The .8520 level is still in focus for NZDUSD. So far the market is respecting this key level once again. The next level […]
Continue ReadingPrice Action Setups – Make or Break Time for NZDUSD
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By
Justin Bennett
- / May 25, 2014
Weeks like this are exciting for Forex traders – weeks where there’s a lot on the line for certain currency pairs. We’ll start with NZDUSD… The pair has been in a strong uptrend since August of 2013 and is about to test the .8520 level for the fourth time in six weeks. As seen in the […]
Continue ReadingPrice Action Setups – Next Move Lower for AUDUSD?
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By
Justin Bennett
- / May 22, 2014
The markets continue to be fairly choppy and indecisive. Although we’ve seen some big moves this week, there doesn’t seem to be much follow through at the moment. I wanted to preface today’s analysis with this observation for two reasons. Keep this in mind when position sizing for a trade…scaling back might not be a bad […]
Continue ReadingPrice Action Setups – GBPAUD, GBPCAD, AUDUSD and AUDJPY
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By
Justin Bennett
- / May 21, 2014
We’re finally starting to see some volatility trickle back into the market. Today saw several currency pairs make moves that at first glance may look opportunistic, but a more prudent strategy may be to wait it out. This is when focusing on raw price action can help separate a potentially great setup from one that might get you in […]
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