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Setups

Different Set-ups - Same OutcomeHi folks! Often Traders like to think that their set-up or strategy is 'superior' that helps in identifying opportunities and put them on good trades better than other strategies employed by other traders. They vehemently defend their approach, their indicators and strategies. While some may put total faith in Fibonacci Sequences, others on RSI + MACD with Moving Average Cross overs while some others may vouch on Trend Lines and pure Price Action and nothing else, ... and it goes on. In the chat rooms here on TradingView and elsewhere, I have seen raging discussions and disagreements over indicators and it has always amused me. This simple example that I have shared should be an eye-opener to such traders. The fact is no strategy or set-up is superior or gives a definitive edge that another strategy does not. In the example, I only took a small number of 50 set-ups - but astute traders know that there are as many set-ups as there are traders! With so many numerous technical indicators available today, we could show any number of examples of how one or a combination of the technical indicators would have found the opportunity in this example. The bottom line is that it is indeed possible to spot opportunities using a variety of indicators in different ways. It's futile to debate "which indicator is the best". As long as the method (with or without indicators) adopted by you is delivering results, that's all that matters to help you stay profitable and keep you happy. Hope this might be of interest to some of you. All the best to all. PriceCatch
NSE:CANBKEducation
by PriceCatch
BEST PLACES TO LOOK FOR HIGH PROBABILITY TRADESHere are a few setups that I use in my day to day trading. They work well in all the timeframes and in all types of markets. I am only showing bullish scenarios due to space constraint but one may also look for bearish scenarios which work in the same manner. Like Down trendline or Downward sloping channel; downward sloping MA; breakdown of a range; and price retracement back up to 50% of the down move. Sometimes these setups also work in collaboration with each other. Like price pulls back to the MA and this level also coincides with a potential support zone or this level is also the 50% retracement of the prior up move. In these cases the trading opportunity will have very high probability to make money. Are you still thinking that what patterns to look for at those places to take trades? Please refer my previous idea tagged to this post. Just look for those candlestick patterns as your trigger and you are good to go. I hope this post will add to your knowledge and don't forget to like and comment to encourage further writing. Regards JJSingh
NSE:NIFTYEducation
by Bravetotrade
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