eltongg

eltongg Updated 

Market structure shift on 15m/1h chart. Price has failed to make a new high and has displaced to the downside due to the news causing a market structure shift. Price is testing 1H Bearish Fair Value Gap and 1H Bearish Order Block and respecting it. Will be entering a Short and see how price reacts. Two points of TP, one on the 4H Bullish FVG next on the daily supply.

eltongg

Prices have finally reached the 4H bullish FVG and nearing to the 4H bullish Order block The overall sentiment of the market is still bullish even if we had some bearish action the past days, if prices were to take off again , this would be the perfect place.

eltongg

One of my favourite entries are on breaker blocks because they are such a strong point of resistance. I will be monitoring closely waiting for a pullback there to enter a short position targeting the external liquidity on the 4h timeframe.

eltongg

Higher Time Frame : 1D Bullish We are still on an uptrend on the daily timeframe but it looks like we need to sweep some liquidity before attempting to go even higher. Mid Time Frame : 4H Bearish We are now testing the bearish 1 hour orderblock Price has rejected very beautifully on the lower time frame (5m/15m chart) , a displacement candle was formed causing...

eltongg Updated 

If price goes up to the bearish 4h fvg and makes a market structure shift on the lower time frame we can consider entering a short trade , stoploss on the swing high of MSS and target TP on the 4h sell side liquidity

eltongg Updated 

SHORT TERM : EQUAL HIGH WICKS , VERY STRONG DRAW ON LIQUIDITY. PRICE MIGHT HUNT LIQUIDITY ON TOP TO MOVE TOWARD THE DOWNSIDE TOWARD THE 4H FVG AND TOUCH THE 4H OB MAKING A WICK (Only entering a short when i see a market structure shift on 1M timeframe) Could TP half on 162.971 and Close trade on 162.686

eltongg Updated 

Still possible for a long entry but the risk to reward ratio might not be worth it. Try not to FOMO into long trade. Possible to short from 4H Bearish FVG above .

eltongg

WAIT FOR PRICE TO GO TO 4H BREAKER BLOCK, Breaker blocks are very strong areas of support/resistance. LOOK FOR A MARKET STRUCTURE SHIFT ON LOWER TIMEFRAMES 5M/15M ENTER SHORT ON FVG / BREAKER BLOCK ON LOWER TIMEFRAMES .

eltongg

MARKET STRUCTURE SHIFT ON 15M TIMEFRAME We can expect price to retrace to hunt some liquidity at the next point of interest. BULLISH 4H FVG SHOULD HOLD FOR THE TIME BEING AND SWEEP SOME LIQUIDITY ON THE UPSIDE IF PRICE WANTS TO MOVE LOWER We can have 2 Points of TP

eltongg

This whole area is a weekly FVG Theres a very high chance price might touch the FVG to re-balance prices before going up, might need to sweep some liquidity, overall on the higher timeframe it looks very bullish. Short term : Bearish Long term : Bullish

eltongg

VOLUME GAP ON LAST 4H CANDLE Might be a sign of buy side exhaustion at all time highs. price might be expected to take a turn into the .382 levels of fib extension or lower and take a breather before rallying upwards again. Might look for opportunities to short without being greedy, it looks too bullish to be greedy. If price disrespects 4H FVG we are going...