Framing is based on prior price action so while it cannot predict the future it can help build expectations so you know if the current room may be running out of steam or just beginning. Stochastic is also inserted with the following inputs: Other sweet spots can be identified by using the concepts of impulse and correction. Another option is to use daily or weekly fractals that show you price reversals to highlight turning points in the market. Please Select Please select a country. And thank you for taking the time to share this post! Trade Stochastics With Hidden Divergence.
Nov 27, · The Forex market offers lower and higher quality trade setups. This article explains a simple tactic that helps Forex traders recognize the higher probability setups and decision spots and triggers. The Forex market is constantly offering lower and higher quality trade setups.5/5(1).
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What's the expectancy of a pre-defined setup: Whatever setup of interest, go back months or even better years on your instrument s of choice, and analyze each setup instance and how the trade outcome will vary with all kind of trade parameters Use a random entry, tick stop, 1-tick target.
Thanks dom for your reply and thoughts. I started this thread to know the setups to look for what you advised. Many experienced and successful are out there and I am trying to get the help form them to do these home works and select one which might suit well to my trading style and personality.
To be frank all I want is just one or 2 two setups that I can work on with such high expectancy and be successful. The idea of this thread is from a great advise from Market Wizards, which says to find that one setup which works great for anyone's trading style and keep on doing the same. Now, this can be a breakout of balance over support or resistance or a continuation trade. Now, those are normal set ups. In this course, you are going to learn how to spot the setups that have the highest probability of being profitable.
A high probability set up is not only a situation that is profitable to trade but a situation that will have a higher probability of being profitable in the long term. All right, so not only we are looking for profitable situations to trade, but we are looking for the situations that have the higher probability of being profitable in the long term to trade.
Because we are always going to be looking for the same set ups in every instrument and that is what this game is all about. As you know traders look for the same set of over and over on different instruments; this is why we have different styles in trading, some…some are action…I am sorry price action traders, others trade fundamentals or the strace news, other traders are short-term traders, other traders are long term traders, and this is because every single one of them has their own set ups that they look for.
And in this course we are going to teach you how to look for those setups yourself. These set ups are confirmed by not only price action but multiple indications that the trader has chosen to make part of his system or style.
And of course we are going to rely abundantly on price action, but we can also confirm the set ups with the support or resistance, daily pivots, monthly pivots, Fibonacci levels or even oscillators. And further on this course, we are going to teach you how to put a system together. They are extremely profitable in the long term.
Taking too many doubtful trades can easily lead to overtrading which leads to a slippery slope where a trader wants to earn back their money quickly. The trigger is the signal of interest a trader is waiting for.
The trader has been patiently waiting for the price to move to one of their decision spots. And now the price has reached it… now what? How and when to trade? This is what the trigger solves. It basically is a call for taking action. The trigger provides confirmation on how to trade at the decision level.
It provides clues whether a trader will go long or short, or in other words whether they will take the break or bounce. Each Forex trader can choose their own indicators, tools, patterns, trends, and support and resistance for the roles of decision spot and trigger. There is no right or wrong method and you should pick something which you like to use and that matches your trading plan and psychology.
With that said, I will now present to you my own preferences for various decision spots and triggers and it is up to you if you use the same. For decision spots, my number one tool is the strike trigger candle and trend lines. Runners-up are support and resistance , patterns, and moving averages.
For triggers, my number one tool is the candlestick and candlestick patterns. Runners-up are fractals and trend lines. Here is an example: After a while, price moves back to the support trend line. The trend line is the decision spot. Price can then show 2 different reactions via candlesticks.
Hence the candlestick pattern is the trigger:.
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The trading of forex or any securities may not be suitable for all potential High Probability Trading Setups for the Currency Market Table of Contents Top 10 Trading Rules Part 1 the high probability setups of interest and value in your pursuit of profit in the currency markets. Discover high probability trading strategies that work, and how it can improve your trading immediately. Discover high probability trading setups that work in any markets or timeframes. A detailed guide to finding high probability trading setups, in any markets and any timeframes. How To Trade High Probability Trading Setups On Larger Timeframes Now, I said previously that trading setups that happen in the larger timeframes take a lot of time to form years even. So if you are focused on only trading one or 2 currency pairs, you’d hardly get any trades at all.