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Forex Weekly Watchlist: At least 3 excellent tradable setups!

This watchlist is only focused on the daily chart. Increasing our precision of the general trend for the upcoming week.


Remember, these are daily charts, charts on which we do not execute any of our trades. To search for a trade entry you just go over, at least to the 4H chart but it is advisable to review the 1H and maybe even the 30 or 15 minute charts to increase precision.


Now let's get this trading day and week started.



USDMXN


We are starting off with an exotic pair, a forex pair that highly indicates strong bullish signs.


USDMXN is coming out of a bullish reversal contraction which has found support at an important DC level 18.89460, only then can we focus on trading till the TP levels (green).


The main two resistances price action needs to break are 19.04180 and 19.12485.

Check out the screenshot and then we will explain what's going on.

(click on image to enlarge)


DOW JONES (US30)


DJ30 is building a bearish reversal contraction, since we are at all-time highs we need to be very careful of when we enter our short-selling position. Meaning we really need to go to lower time frames and search for precision.


There is a lot happening with the impeachment of Trump this week so any developments on that could provide movement on the Dow Jones.


RSI is at a good level for selling, so what we will do is move to the 4H chart and search for an entry at some point this week (maybe).


(click on image to enlarge)

GBPUSD


There are not a lot of details on GBPUSD's daily chart, but we do have two possible supports which might indicate buying can take place.


Just like DJ30, this pair is one which must be analyzed better on the 4H chart before an entry is taken.

(click on image to enlarge)


Ok, that sums up our watchlist for the week on the daily charts, we are looking for 2 buying trades (USDMXN and GBPUSD) and one selling trade (Dow Jones).


Our community will be in the loop on what we decide to do here, if you want to join get in touch with us!


Wishing you a safe and profitable trading week! And for those of you who celebrate this week we wish you and your loved ones a Merry Christmas!



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