Trading Prime Setups

When looking for trades it can sometimes be overwhelming especially for a new trader.There is so much information to take in at once it can throw you off your game if you let it.Every trader should have a planned trigger for both there entries and exits.That may be a certain indicator or set of indicators that tells the trader this trade has potential,if this happens then I will do this.For example, I use the MACD for trend, and the trade with the most potential is when the MACD is sloping in the direction I want to trade on the 5 minute,15 minute,and 60 minute charts.I want to see this on all three charts for a prime setup,otherwise known as a Three Lane Highway! I will give the 60 minute chart a little room for instance if the 5min and 15min are sloping in the same direction and the 60 minute is just starting to turn,I still consider that a prime setup.Now if any three of these are diverging then this is not considered a prime setup and only experienced traders should take these as a trade.The indicators will vary from trader to trader,but the concept remains the same,for new traders or even if your a seasoned trader in a slump it is always best to wait for the prime setups and build consistency.Look for your indicators to line up in the same direction over several time frames and before your entry always know your out/exit.The above chart gives a good example of how MACD was sloping downward over all three time frames producing a great setup for a short position.