Live trade set up reveals the direction of the trend across different time frames. The tools for the set up are Support, Resistance, Trendline, Channel, Candle Reversal and Continuation patterns. I will be covering weekly to monthly time frames of so many pairs. Set up based on weekly time frame will last for two weeks while set up for monthly time frame will last for two months LIVE TRADE SET UP BASED ON MONTHLY TIME FRAME. The pairs under this category are AUDUSD, AUDJPY and EURUSD AUDUSD MONTHLY CHART Price broke out of the Support June, 2013 when the month ended but did not give a reversal candle pattern. At the close of the following Month July, 2013 price pulled back to the Support to form a Bearish Pinbar indicating that the monthly trend was bearish. As August, 2013 candle closed price formed another Bearish Pinbar. The indications show that the monthly trend is bearish. Below screenshot shows the price action set-up for AUDUSD monthly time frame. http://screencast.com/t/SH8el7jJyA AUDJPY MONTHLY CHART Price broke the monthly Support last two Months without forming any Candle reversal pattern. It is always advisable to wait for candle reversal or continuation each time p…
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