Forex Market Mondays – Weekly Setup & Trade Ideas
StatsEdgeTrading
Welcome back to Forex Market Mondays, where we dive into the charts and get ready for the trading week ahead. Every Monday, I go through my Forex and crypto process, setting up alerts, planning trades, and reviewing market setups.
What We’re Watching This Week:
Aussie Dollar: I’ve been watching this major resistance zone for a while, and I took a short position after hitting a key anchored VWAP level. The trade is moving well, and I’ve locked in some profit with a plan to hold for a 3:1 risk/reward.
Bitcoin: Still in a range. I’m holding a small position from $52k but won’t add until we see a breakout above $69k. Altcoins like Ethereum and others remain weak, but Solana is worth watching for strength alongside Bitcoin.
Gold: I'm watching for a potential breakout from a bull flag pattern and have an alert set. I’m already holding a core position in gold from way back, and I'm looking for the right moment to trail my stop.
Silver: Last week’s breakout attempt failed, so I’ve set an alert to potentially short if it continues to break down.
Euro/USD: The Euro bounced off a strong support level, and I'm setting an alert for a retest of this zone. If we hold, it’s a potential long trade.
Yen Pairs: Commitment of Traders data shows speculators are piling into Yen longs, which could be an opportunity to go against them. I’m watching for a breakout in the Yen to set up a potential trade.
This systematic approach helps me stay detached from the market noise. Once alerts are set, I simply wait for the right setups to trigger.
If you’re interested in more trade setups and algorithms, check out StatsEdge Pro at StatsEdgeTrading.com. I’m also working on a long-term Forex trading system that I’ll eventually integrate into the platform, so stay tuned for more details!