Thread by @MapleStax

Setups and Formations you need to know!

🧵 A THREAD 🧵

These are some of my most profitable and consistent setups that I use on a daily basis. Learn them and profit!
#ChartHashira

1. Technical analysis is the embodiment of displaying the dialogue that price action tells between bears and bulls. Setups/formations are all based on probability, meaning the outcome may give you an edge when taking entry.

2. Channel:
Provides a range of price that displays 2 levels to either be broken or respected. My favorite setup.

3. Ascending/Descending wedge:
Shows a steep rise or decline in price action that holds right to the supporting TL in either direction. If the support fails, expect a drop.

4. Head and shoulders:
This is a transition setup that shows points of possible reversal through pivot price action. Give the trader a HL confirmation with defined risk. Works on the inverse as well for shorts.

5. Break and Base (retest):
This setup is great for momentum/breakout buyers that alerts strong confirmation when taking a resistance break trade. Buy high, sell higher with a defined SL.

6. Rounding tops/bottoms:
Strong VPA pattern that will show either buyer or seller exhaustion and a point of potential reversal.

7. I look for and use these formations on a regular basis. Remember that like all strategies, these will not work 100% of the time. Probability is the game, find your edge and execute!

LINKS:
Patreon Daytrading Education:
Patreon.com/MapleStax
Patreon.com/MapleStax
LAST MONTH to lock in current rate.

Twitch Livestreams:
Twitch.tv/MapleStax
#ChartHashira