Quite often i ve been asked here in trading view about the setup i use to enter the markets, something that makes me believe that most of the traders think that a great setup is what they need in order to succeed in forex. Trying to find only the setup into a structure is like missing the forrest for the tree. A high probability reversal zone is forrest and pinbars, inside bars, fakeys, flags, wedges, gartleys, bats etc are the trees.
No matter what strategy you use try to trade it from a level that has great probability to succeed. So before you blame a pinbar or a gartley pattern look if you trade it at a well analyzed level in the chart.
In this EURUSD daily chart channel parallels (pitchforks) and fibonacci levels give us a great zone where we should watch for sell setups.
Let me know what type of tools you use guys for finding your key zones.!
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As expected pricce had retraced into this corrective structure and is about to move up once again meybe till it enters into our key sell zone. In this potential way up we have a pending ab=cd bullish pattern for a short term buy trade. Still our main view is bearish
What makes you think it will be reversed at around 1.1020? Previous Lows? It can be broken easy. And I think it will be. EU is missing really hardly 1.0870, it has to rush to it. Or maybe I should say it should, not it has to!
Cheers.
Metafora
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I usually try to identify key zones looking at trend lines and ichimoku. Sometimes I also look at fibo levels and pivot points but I often fail to find a good set up.(early entry and SL too tight)
harilaos
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excellent formulated, very substantial, bravo, kind regards, Harry