The Live Trade Set Up Part 2 is what is currently going on in the market. The article is not based on past historical charts. So many articles have been written concerning Forex, therefore the practical aspect of it is very important that is why I have decided to always base my articles on current Market situations.

In this article, I will cover set up on Weekly and Daily time frames. The Weekly chart will last for one Week if triggered while the Daily chart will last for two days if it triggered.

The Weekly pairs are as follows;

AUDJPY, AUDUSD, CADCHF, EURJPY, EURNZD, GBPAUD, GBPNZD, NZDCHF, USDCHF and USDJPY


AUDJPY WEEKLY CHART

The price hit the weekly Resistance while on a bullish trend but as price hit the resistance reacted to form a Candle reversal pattern called Bearish Pinbar. The indication shows that the pair will experience a bearish trend. To trade the pairs you must use a sell stop as the entry mode. Below image shows the price action of AUDJPY





AUDUSD WEEKLY CHART

The price hit the weekly Resistance while on a bullish trend but as price hit the resistance reacted to form a Candle reversal pattern called Bearish Pinbar. The indication shows that the pair will experience a bearish trend. To trade the pairs you must use a sell stop as the entry mode. Below image shows the price action of AUDUSD







CADCHF WEEKLY CHART

The price hit the weekly Resistance while on a bullish trend but as price hit the resistance reacted to form a Candle reversal pattern called Bearish Pinbar. The indication shows that the pair will experience a bearish trend. To trade the pairs you must use a sell stop as the entry mode. Below image shows the price action of CADCHF






CADJPY WEEKLY CHART

The price hit the weekly resistance while on a bullish trend but as price hit the resistance reacted to form a Candle reversal pattern called Bearish Pinbar. The indication shows that the pair will experience a bearish trend. To trade the pairs you must use a sell stop as the entry mode. Below image shows the price action of CADJPY






EURJPY WEEKLY CHART

The price hit the weekly Resistance while on a bullish trend but as price hit the resistance reacted to form a Candle reversal pattern called Bearish Pinbar. The indication shows that the pair will experience a bearish trend. To trade the pairs you must use a sell stop as the entry mode. This pair is different from other pairs that had the same candle pattern as price bounced back from the trendline forming one of my best patterns called Triangle. Now if you consider trading the pair watch the trendline as price reacts from it because the triangle is becoming tighter waiting for a heavy breakout. Below image shows the price action of EURJPY.







EURNZD WEEKLY CHART

On the above pair, price has not been able to breakout from the support for good fourteen(14) Weeks. Last week price reacted at the support to form a bullish Dogi(Spinning Top).

Buy stop should be use for the set up and not instant execution to confirm bullish trend as price exceed the high of last week set up. Below image shows the price action of EURNZD.







GBPAUD WEEKLY CHART

Price hit weekly Support reacted to form a candle reversal pattern called Bearish Inside Bar. The indication shows that the pair will move in bullish direction. Below image shows the price action of GBPAUD.








GBPNZD WEEKLY CHART

The price has been trending in a Triangular shape which is one of the shapes I love to trade. Last week price hit the Trendline reacted to form a Bullish Dogi (Spinning Top) without a body. The indication shows that the pair will move in a bullish direction. Below image shows the price action of GBPNZD.





NZDCHF WEEKLY CHART

Price hit and reacted from the weekly resistance to form a good Candle reversal pattern called Bearish Dogi (Spinning Top). The indication shows that the pair will move in bearish direction. Below image shows the price action of NZDCHF.







USDCHF WEEKLY CHART

Last three Weeks price hit the weekly Resistance to form a shape that looks like a Bearish Pinbar but I will not trade such pinbar because of the formation of the body. Then last Week price hit the Resistance reacted to close in a bearish candle. When last three weeks candle and last week candle are combined neglecting the long wick of last week candle formed a good candle reversal called Bearish outside Bar. It means the pair will move in a bearish direction. Below image shows the price action of USDCHF.







USDJPY WEEKLY CHART

The price has been trending in a Triangular shape which is one of the shapes I love to trade. Last week price hit the Resistance reacted to form a Bearish Pinbar. Let your eye be on the Trendline for price reaction for trend continuation or reversal. The indication shows that the pair will move in a bearish direction. Below image shows the price action of USDJPY.






The second part of this article will be centered on daily chart.

The pairs under consideration are as follows;

AUDCAD, CHFJPY, EURCAD, EURNZD, EURUSD, GBPNZD, GOLD, NZDCAD, and NZUSD.


AUDCAD DAILY CHART

Price hit the daily Support to form a candle reversal pattern called Bullish Pinbar. This means the pair will move in a bullish direction. Below image shows the price action of AUDCAD.







CHFJPY DAILY CHART

Price hit the daily Support to form a candle reversal pattern called Bullish Pinbar. This means the pair will move in a bullish direction. Below image shows the price action of CHFJPY








EURCAD DAILY CHART

The price has repeated formed several bullish reversal candle patterns for the last five trading days. The indication shows that the pair will move in a bullish direction. Below image shows the price action of EURCAD







EURNZD DAILY CHART

Price hit the daily Support to form a candle reversal pattern called Bullish Pinbar. The Pinbar have no body which makes a very good reversal pattern. This means the pair will move in a bullish direction. Below image shows the price action of EURNZD







EURUSD DAILY CHART

As price breakout from the daily Resistance that is the third to the last candle but the following day as price reacted from the resistance if for a Bullish Pinbar continuation pattern. The price did not move above the high of the set up meaning that the buy set did not trigger. But last the last candle hit the same Resistance reacted to form another Bullish Pinbar continuation pattern. Below image shows the price action of EURUSD.








GBPNZD DAILY CHART

Price hit and reacted from the Daily Support to form a good candle reversal pattern called Bullish Inside Bar. Below image shows the price action of GBPNZD.







GOLD DAILY CHART

Price hit and reacted from the Daily Support to form a good candle reversal pattern called Bullish Pinbar. Below image shows the price action of GOLD.







NZDCAD DAILY CHART

Price hit and reacted from the Daily Resistance to form a good candle reversal pattern called Bearish Dogi (Spinning Top). Below image shows the price action of NZDCAD.







NZDCHF DAILY CHART

Price hit and reacted from the Daily Resistance to form a good candle reversal pattern called Bearish Pinbar Below image shows the price action of NZDCHF.







NZDCHF DAILY CHART

Price breakout from the Daily resistance to form a bullish continuation Doji(Spinning Top) Below image shows the price action of NZDUSD.

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