“There seems to be some perverse human characteristic that likes to make easy things difficult. ” ― Warren Buffett
I think this Quote applies very well to Trading-Setups - Technical Analysis does not need to be complex or difficult. Considering myself as a TA-Nerd, I love to play around with Indicators, try to mix them or develop new ones. But sometimes it is a good Idea to step back and try to make things easier instead of overcomplicating things.
This EURUSD Setup is a good Example: We have a Signal, a confirmation and a simple rule for taking Profit:
Signal: Bullish Divergence of Price vs. Momentum
Confirmation: MACD about to cross the Signal-line
Take Profit at the latest untouched daily Pivot (1.16996)