USDSEK

Weekly Forex Outlook: October 21

👋 What’s up crew? We finished another week of trading. As always, I’m curious to know how your week went? I only took a few trades but unfortunately, none of them were listed in the weekly outlook. Many of the setups that looked interesting only developed after a few days or were part of my private watchlist.

 

We’ll have a look at one of the trades I took (a NZDUSD 1H short) in a moment. No trade review for this week since unfortunately, none of the setups of my outlook triggered! A few of them were based on the premise that the euro would go down and that didn’t happen. No trades triggered but also no losses were taken, so no worries!

 

 

 

Tokyo Forex Traders Meetup

 

Just a quick note: I’ve recently started the Tokyo Forex Traders Meetup. As some of you may know, I’ve been living in Tokyo for a while now. While I don’t intend to stop travelling, I like Tokyo so much that I have decided to make Tokyo my “home base”.

 

From that point of view and because I like to connect with traders, I have just started a meetup group for forex traders in Tokyo. The idea is to get together once a month, have a drink (or two) and just talk about trading. Very informal, just some traders connecting with each other and discussing what can otherwise be a pretty lonely profession 

 

We have our first meetup on November 7 (that’s a Tuesday evening) in a central Tokyo location (probably a spacious café or similar). If you’re living in Tokyo and would like to chat with other traders over a drink, have a look at the meetup page. If you know a trader living in Tokyo, don’t hesitate to forward the meetup page to them as well!
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AUDNZD

Weekly Forex Outlook: September 16

Well, what a week this was for reversal traders! There were so many nice setups, plenty of sustained moves and much pips to be had in the past week. September is usually characterised by good trading action and this month is no different. We will go over some of the setups from the outlook of last week and see how they did.

 


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EURGBP forex outlook

Weekly Forex Outlook: September 9

Morning traders, how’s the weekend going? Last week, I was on a short break due to travel (back to Japan) but I did follow the market. It was a slightly challenging week for reversal traders so I apparently chose this travel week well! 🙂

 

But now that I’m back in Tokyo, I’m back on the charts and preparing my weekly watch lists in the weekend. We have some interesting potential setups for the upcoming week, keep on reading to know which ones!

 

 

However, you’ll notice that all of the setups for this week are daily setups. While I’m thinking there are some good opportunities in the market for next week, there still is a lot of ranging behaviour in many pairs due to things like the hurricanes and geopolitical uncertainty, which makes for less than optimal lower time frame reversal setups.

 

So instead of forcing setups, we just stay on the daily charts for this week.

 

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NZDUSD forex outlook

Weekly Forex Outlook: August 27

Hi traders! How’s your weekend going so far? Had any interesting trades on last week? I’ll tell you about my trades: there were none! It doesn’t happen a lot but the past week was incredibly boring. In the beginning of the week, nothing happened because all traders seemed to be in Jackson Hole anticipation mode.

 

Additionally, some of the reversal setups that showed promise kept on going in the direction of the trend and in fact, none of the setups worked out! This can absolutely happen but at the same time – because nothing was triggered – I didn’t lose any capital either. Capital preservation should be your number one priority.

 

Regardless, let’s hope that next week brings us more opportunities!
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XAUUSD

Weekly Forex Outlook: August 6

Happy Sunday! How was your trading week? This week flew past and there were definitely some interesting opportunities in the markets! We’ll review one of these in a moment, a 1H short I took on NZDCHF. This was actually one of the setups in this week’s outlook, so hopefully, you could benefit from it as well! We also had an NFP release which largely surprised on the positive side. This was a welcome change for a dollar that has recently been selling off against all major currencies.

 

I’m temporarily getting settled in Ghent right now, where I’ll be spending some time working and trading for the month of August. After that, it’s back to Japan for me (I can’t do without the food!). The nice thing about being a trader is that I can work pretty much everywhere. Some music, a good coffee and my charts are all I need!

 

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XAUAUD forex

Weekly Forex Outlook: July 31

Hi there, traders! How has your trading been last week? You might’ve noticed that for the past weeks, I took some time off. Partially because I’ve travelled back to Belgium but also as a sort of summer holiday, to make the most of meeting up with my friends in Japan. But now I’m back! This will be a shorter outlook as I won’t include trade reviews this time, but of course, we’ll have a look at the best setups for this week!

 

 

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GBPNZD

Weekly Forex Outlook: July 15

What’s up crew? Another week has passed and we had some big movers! I’ve been a bit quieter this week since I’m working on refining one of the strategies I trade. This means a lot of programming, a lot of Excel and just general data crunching and testing. It’s relatively boring work and takes a long time, but it’s exactly this kind of work that pays off in the end.

 

For reversal trading, we had a couple of beautiful trading opportunities. A couple of nice examples are a CHFJPY 4H short after a break of the trendline and a short reversal on USDJPY 4H (see the chart shot below). At the same time, a lot of setups seemed to be at the edge of reversing but then continued. Many market moves were driven by a couple of bigger news events. We’ll go over a few of the big themes that drove the markets in a moment.

 

USDJPY review

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NZDUSD

Weekly Forex Outlook: July 9

Hi readers, happy Sunday! Another week has passed! Of course, the weekend is my time to review my past week’s trades and analyse the markets to come up with a watchlist and weekly outlook. This has become second nature for me and it’s absolutely critical to have habits like this as a trader.

 

However, past week was a bit challenging to trade reversals! While the AUDUSD short worked out nicely, the other setups didn’t really materialise. My WhaM system did a lot better this week, with a profit of over 4R. Besides the reversal setups, I am thinking of incorporating some of these setups here as well if there’s enough interest.

 


It did get me thinking about how trading systems perform. I’m of the opinion that even the best trading systems won’t always work very well and usually, that’s a good thing. Because when you try to add filters and parameters and requirements to your system in order to make it lose less money, what you are actually doing is overfitting a system. You might get better performance in the current market conditions, but markets change.

 

Those changing conditions will then often lead to decreased performance since your system is now very specific to the market environment you tested it on. That’s why often, the best trading systems are the simplest. The systems with the least moving parts – Occam’s Razor in the context of trading systems.

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EURGBP forex setup

Weekly Forex Outlook: July 2

And another month has passed! This was a month with low volatility due to summer holidays, not too much economic data releases but many surprising central bank-related events. Nevertheless, there were still plenty of good trades to be made. How did you do this month?

 

Last week also had quite a few interesting opportunities and the trade setups from our l watchlist got some good follow-through. I’m going to discuss one of these trade setups in a moment: the EURNZD 4H long. It’s worth noting that while two of the setups of last week never got triggered (so no money lost either), the AUDNZD 1H long was another nice opportunity to make some pips!

 

This is the power of setups like this: there is always a level that should be broken before I consider entering a trade. In my weekly outlooks, not all of the setups will always break this level and materialise, but that’s not necessary either. When two of the four setups actually work out (like last week), it’s already plenty to have a successful trading week. Of course, patience is the name of the game and most of the time, we just wait until the price does what we want it to do!

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EURNZD

Weekly Forex Outlook: June 24

Hi traders, good morning and good weekend! How was your trading week? For me, the past week was relatively uneventful and with many setups lacking a bit of follow through. Most of the setup in last week’s outlook didn’t materialise, which means that I didn’t take any position in them. Instead, there were a couple of other opportunities that came along as the week went by, still good for some nice trades. We’ll go over one of them in a moment.

 

On a personal note: I decided to extend my stay in Tokyo for another month as I’m having a great time here. The Japanese culture and big city life agrees with me! It reminds me of my time in London. By the way: did I already tell you how crazy good the sushi is around here? 😉

 

 
Some interesting events were crude oil selling off, regardless of better than expected oil inventory data and the recent developments with the UK starting the Brexit negotiations. Not too much has happened otherwise, so let’s not linger too long and have a look at the big picture, before diving into the outlook for next week.

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