Forex Market Monday - Setting Alerts

StatsEdgeTrading

Welcome to Forex Market Monday, where I walk you through my weekly routine for analyzing Forex and crypto markets. My process is simple yet effective—every Monday, I analyze the weekly charts, set alerts for key price levels, and wait for the market to hit them before taking action. This systematized approach allows me to stay detached and avoid overtrading.

Today, we start by reviewing Bitcoin and other top cryptos like Ethereum, Doge, and Solana. Bitcoin is still in a range, so I’ve set an alert for a breakout above key resistance. Showing relative strength, Solana could be a trade candidate if it breaks out above a major resistance zone.

Next, we move into precious metals like gold and silver, where pullbacks to key levels could offer buying opportunities. If gold pulls back to a previous breakout area and stabilizes on the 4-hour chart, I might enter a long trade with a clear stop loss. Silver is holding up even better and is also on my radar for a long trade.

On the Forex front, I focus on Euro/USD, which could break out soon if the Dollar Index (DXY) continues its potential breakdown. I also like the look of Aussie Dollar, which is testing a major anchored VWAP level.

I’ll be watching all these setups this week, and if my alerts trigger, I’ll look to enter trades. If nothing happens, I ignore it—that’s the beauty of setting up alerts and having a plan

That’s it for today’s Forex Market Monday. If you’re interested in more systematic trading strategies, be sure to check out StatsEdgeTrading.com for access to my algorithms and the Stats Edge Pro Discord.