Forex daily setups. The Forex market is constantly offering lower and higher quality trade setups. It is our job as traders to scan, recognize, select, enter and exit the ones with the best odds and reward to risk. The best way is via a strategy. A Forex strategy helps identify setups with a long-term edge because it allows traders to.

Forex daily setups

Daily Forex Signals : Good Trading setup

Forex daily setups. Daily Forex price action setups using simple support and resistance, pin bar, inside bars and the natural flow of the Forex market.

Forex daily setups

High Probability Trading would be the closest thing to a forex holy grail, right? But what is high probability trading and what does it involve? Are there any high probability forex trading strategies around? Here is the definition of high probability trading: So what percentage success are we talking about here?

As a matter of fact, nobody can tell you what percentage of trading success rate would count as high probability trading. But that fact is they are very few or very rare indeed. In my humble opinion, I believe that these two things below make or form high probability trading setups:. Well, in terms of support and resistance levels, these levels stand out. Every Tom, Dick and Harry traders in the world can see it.

The big financial institutions that trade the forex market can also see it. So the natural human response kicks in and prices behave predictably when it hits levels of support or resistance.

Now, I also am of the opinion that support and resistance levels you see on smaller time frames are not as important as those seen on the larger time frames. Therefore, the larger time frames play a significant role in this argument that high probability trading setups happen in them. I can give you a lot of examples in the daily, weekly and monthly charts of how prices behaved when it hit support and resistance levels but seriously, you learn a lot when you do the exploring yourself: So what is the best way to trade these high probability trading setups that happen in the larger time frames?

Now, I said previously that trading setups that happen in the larger timeframes take a lot of time to form…years even. With that, the chances of trade setups forming frequently in any of these 20 plus currency pairs increases, but regardless, its still going to be a long wait. Well, it think you need to separate the high probability trading in larger time frames from your daily or regular trading activity.

So essentially, its like a two separate trading really. So when the time comes and a trading setup in the larger timeframe is forming, how do you actually take the trade then? So when price was heading up to this resistance level I identified on the monthly chart, I then switched to the 4hr time frame for my trade entry and my sell signal was a bearish pin bar shooting star:. There are some forex trading strategies here that can be used successfully in trading the high probability forex trading setups in the larger timeframes:.

Means the world to me if you do so that I can be more motivated to write more useful forex trading tips for you. Well, let see, shall we? But before you go any further, you need to understand what high probability trading is. Prev Article Next Article.


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