Live Trading Set Up is when the trading system or strategy gives a good opportunity to place a buy or a sell positions called Trading Signal.
The Live Trading Set -up am considering her Price Action based Support/Resistance , Trendline, Channel drawn across the higher time frames and five (5) reversal and continuation Candle patterns.There is no dynamic swing points that at least of the five candle patterns listed below will not be seen.
  1. Pinbar
  2. Outside Bar
  3. Railway Track
  4. Inside Bar
  5. Doji ( Spinning Top)

The Trend plays a major role when trading good Price Action Set Up. If the Support/Resistance, Trendline, Channel and the Candle Patterns are against the trend the set up will fail then it will result to a lost of funds. Another important factor that must be put into consideration when trading a good Price Action set up is Fundamental Analysis (major news release like Non Farm Payroll, FOMC, Interest Rate etc)

The live trade set up for this week will be based on USD Pairs which includes

  • DOLLAR INDEX
  • EURUSD
  • GBPUSD
  • USDCHF
  • USDJPY
  • USDCAD


  • DOLLAR INDEX WEEKLY CHART FORMED A BEARISH OUTSIDE BAR SET UP

Dollar Index plays a very important roles when dealing with USD base and counter pairs. Now that am analyzing USD pairs it is very important for me to start with dollar Index weekly chart to know the trend direction.

Dollar Index (USD Index) closed with a bullish candle on a very strong Resistance last two Weeks Friday July 05, 2013 during a bullish trend but could not breakout from the Resistance . Last Week Friday July 12, 2013 It also closed with a bearish candle. When you looked at the bullish weekly candle that closed last week and the bearish candle that closed last week they both formed when is called a Bearish Outside Bar. The bullish candle looks smaller in size compared to the bearish candle sitting on a very Resistance. The indication shows that the USD Index is bearish. Therefore look for buy opportunities on USD Base pairs and sell opportunities on USD Counter pairs when you zoom to lower time frames like four hours and one hour time for a pullback .

The image below shows weekly chart of USD Index below with the Support/Resistance, Trendline,and the Candle Patterns clearly drawn.

http://screencast.com/t/UobnR6cdoUC


  • EURUSD WEEKLY CHART FORMED A BULLISH OUTSIDE BAR SET UP

EURUSD closed with a bearish candle on a very strong support last two Weeks Friday July 05, 2013 during a bearish trend but could not breakout from the support . Last Week Friday July 12, 2013 It also closed with a bullish candle. When you looked at the bearish weekly candle that closed last week and the bullish candle that closed last week they both formed when is called a Bullish Outside Bar. The bear candle looks smaller in size compared to the bullish candle sitting on a very strong support. The indication shows that the pair is bullish. Therefore look for buy opportunity when you zoom to lower time frames like four hours and one hour time for a pullback .

The image below shows weekly chart of EURUSD below with the Support/Resistance, Trendline,and the Candle Patterns clearly drawn.














  • GBPUSD WEEKLY CHART SHOWS A BULLISH INSIDE BAR SET UP

GBPUSD closed with a bearish candle on a very strong support last two Weeks Friday July 05, 2013 during a bearish trend but could not breakout from the Support . Last Week Friday July 12, 2013 It also closed with a bullish candle. When you looked at the bearish weekly candle that closed last week and the bullish candle that closed last week they both formed what is called a Bullish Inside Bar. The bear candle looks bigger in size compared to the bullish candle sitting on a very strong support. The indication shows that the pair is bullish. Therefore look for buy opportunity when you zoom to lower time frames like four hours and one hour time for a pullback .

The image below shows weekly chart of GBPUSD below with the Support/Resistance, and the Candle Patterns clearly drawn.

http://screencast.com/t/EtQxt7lSSH


  • USDCHF WEEKLY CHART SHOWS A BEARISH RAILWAY TRACK SET -UP

USDCHF closed with a bullish candle on a very strong support last two Weeks Friday July 05, 2013 during a bullish trend but could not breakout from the Resistance . Last Week Friday July 12, 2013 It also closed with a bearish candle. When you looked at the bulliah weekly candle that closed last week and the bearish candle that closed last week they both formed what is called a Railway Track. The bullish candle have the same size when compared to the bearish candle sitting on a very Resistance . The indication shows that the pair is Bearish. Therefore look for sell opportunity when you zoom to lower time frames like four hours and one hour time for a pullback .

The image below shows weekly chart of USDCHF below with the Support/Resistance,and the Candle Patterns clearly drawn.

http://screencast.com/t/gIojrxAVWfzZ


  • USDJPY WEEKLY CHART SHOWS A BEARISH RAILWAY TRACK SET -UP

USDJPY closed with a bullish candle on a very strong support last two Weeks Friday July 05, 2013 during a bullish trend but could not breakout from the Resistance . Last Week Friday July 12, 2013 It also closed with a bearish candle. When you looked at the bulliah weekly candle that closed last week and the bearish candle that closed last week they both formed what is called a Railway Track. The bullish candle have the same size when compared to the bearish candle sitting on a very Resistance . The indication shows that the pair is Bearish. Therefore look for sell opportunity when you zoom to lower time frames like four hours and one hour time for a pullback .

The image below shows weekly chart of USDJPY below with the Support/Resistance,and the Candle Patterns clearly drawn.


http://screencast.com/t/dUWrEErYNIxW


  • USDCAD WEEKLY CHART SHOWS A DOJI (SPINNING) SET -UP

USDCAD closed last two Weeks Friday July 05, 2013 with a bullish called a Dogi (Spinning Top) which is sitting on the upper channel and Resistance . The indication shows that the pair is Bearish. Therefore look for sell opportunity when you zoom to lower time frames like four hours and one hour time for a pullback .

The image below shows weekly chart of USDCAD below with the Support/Resistance,and the Candle Patterns clearly drawn.

http://screencast.com/t/xWqjB0ER


I also uploaded the above video chart on You tube

Below is the link.

https://www.youtube.com/watch?v=3KpEuzCjnis


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