One reason why Professional traders are successful is that because they’ve developed a High Probability Trading strategy which they can exploit over and over.
In fact, if you have a High Probability Trading setup you’ll be able to constantly apply the same setup and win most of your trades.
In the live trade below, you can see a High Probability Trading setup that occurs every single day on any Asset and Timeframe.
So whether you trade Forex, Stocks, Crypto (like in this case), Futures, Indices, or more, we’re sure you’ll be able to replicate the same setup.
Why are we this sure?
Because we use it ourselves on multiple assets (mostly Forex and Stocks) and many traders on TradingView use it since many years.
So where to start?
By looking at the Price Action and what happened to the market Sentiment Index (at the bottom of the chart) in the last few days we identify 3 Profitable Setups identical to the one that we’re looking at today.
In particular, today we want the Price Action to break-up the consolidation with a green candle (colored by the Breakout Pivotal Bars)
And we also need the Sentiment Index down at the bottom, to break-up as well at the same time.
Trade setup – 13 May 2020
It looks like we might get another impulse in a series of very profitable combinations of impulse-consolidation-impulse.
These setups are usually very profitable because, once they form, there’s a high chance that they reach their target.
In fact, these are very well-know and popular High Probability Trading setups.
Let’s see if we get another one here.
Trade update – 13 May 2020
The setup has formed and it is valid because:
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- The price broke up the consolidation that we identified by drawing the blue trendlines
- The breakup candle is green (colored by the Breakout Pivotal Bars)
- The bullish Sentiment Index broke up its trendline as well
Setting the Take Profit is very simple.
We take the length of the previous impulse and we project it to the upside by starting from the bottom of the current consolidation.
The Stop Loss, instead, is a level at least a bit lower than the breakup candle.
But, if you want to be extremely conservative, you should place it below the current consolidation.
Trade closed – 13 May 2020
The price just moved higher and within a few candles, it reached our Trading Target.
It’s no surprise that our High Probability Trading strategy worked once again.
This time, it allowed us to get a 2.8x profit on the last trade opportunity.
The hard work was done by some of the Best TradingView indicators available on the market which allowed us to identify and confirm the opportunity.
Our work has been to enjoy the trade and maintain the correct Trading Mindset.
What about your setups? Are they High Probability Trading setups?
Let us know by commenting on the YouTube video above.
