Watch this high probability trade

Watch this high probability trade 300 169 Minimalist Trading – Best Trading Indicators for TradingView

Watch this high probability trade

◷ Last updated

Introduction

Today we’re looking at another trading setup using our technical indicators, which are considered to be among the best indicators for TradingView. In particular, we’re using the Bottoms Tops Signal in combination with the Levels and Zones, and the RSI Exhaustion.

Novice traders usually keep looking for ways on how to read forex charts like a pro. Well, today we can clearly read this TradingView chart thanks to our forex winning indicators. Specifically, we’re able to identify a high probability trade on eurusd. So, how to trade eurusd this time? It’s very simple: we enter at the current price level, we set the stop loss below the major support indicated by the Levels and Zones indicator and we set our target at the same level of the most recent highest point.

Trade setup – 21 May 2020

Watch this high probability trade Setup 1

This buy setup is very clear and simple. In particular:

    1. There’s a divergence between the price, which is moving down, and the RSI Exhaustion, which is moving up
    2. The RSI Exhaustion is bearish exhausted (colored red), which means that the price doesn’t have too much room to move any lower
    3. We have a confirmed bottom

Moreover, what makes this an even better high probability trade, is the fact that all those three conditions are verified just above a major support level, displayed by the Levels and Zones indicator.

The major support level should now create a significant upward pressure, which will play in our favor.

Trade update – 21 May 2020

Watch this high probability trade Setup 2

As expected, the price is moving higher.

Trade closed – 21 May 2020

Watch this high probability trade Setup 3

The price made a couple of retests but then moved to target rather easily.

We closed the trade with a 2.45x profit which is not exceptional considering our average return with similar forex setups, but it’s still extremely profitable in the sense that if you can get a similar profit on a consistent basis, then you’re on the right path to becoming a full time forex trader and you probably have identified the best forex strategy for consistent profits. In the case of this high probability trade, our fx strategy proved to be once again easy to execute and very profitable as well.