$BTC - To Long after breaking short of sell side Liquidity *SMT*
*SMT = Smart Money Theory = everything you think that is not retail related to trading. First, SMT does not believe that triangles, wedges , trendlines , channels, harmonics, etc. has any effect on how price reacts. I'm Sorry but you won't convince me that Bitcoin knows it has created a triangle and that it knows how to react from that? It does and will remembers price levels, that's it. The second is to recognize that the price is not random, it is set by an algorithm controlled by those that control the asset. The Third thing to remember is price will move toward attacking where there is Liquidity (Equal Highs, Equasl Lows, phantom Trendlines etc.) and Balance (Fair Value Gaps, Liquidity Voids.) That's the basics. The rest is very unique in the vocabulary you need to have and the concepts that wrap around these ideas.
Bitcoin created a short term low within a 4 hour fair value gap yesterday. Was suspicious that it would break lower, fill the GAP and turn bullish, whi it has somewhat done already but there is time to stuill jump in as it is at a low point, but we didn't make a lower low overall. Exit Strategy would be a short-term fair value gap discount.
NOTE: as a smart money technical analysis, My chay, lsart is full of boxes and rays, I apologize if I do not have any of them properly marked but the boxes usually represent an imbalance on a larger time frame (4 hour , Daily) that price is attracted toward filling. It has currently filled the 4 hour fair value gap which is another reason I believe it will long from here. Plus it's Sunday, last day of the week the weekly candle will be finishing up it's formation which I believe the price has cam close enough to the bullish order block on the weekly that we should see bullishness, However there is a possibility that it drops into the price range of the body of that last red weekly candle below current price (38,400 - 37,700)
Bitcoin created a short term low within a 4 hour fair value gap yesterday. Was suspicious that it would break lower, fill the GAP and turn bullish, whi it has somewhat done already but there is time to stuill jump in as it is at a low point, but we didn't make a lower low overall. Exit Strategy would be a short-term fair value gap discount.
NOTE: as a smart money technical analysis, My chay, lsart is full of boxes and rays, I apologize if I do not have any of them properly marked but the boxes usually represent an imbalance on a larger time frame (4 hour , Daily) that price is attracted toward filling. It has currently filled the 4 hour fair value gap which is another reason I believe it will long from here. Plus it's Sunday, last day of the week the weekly candle will be finishing up it's formation which I believe the price has cam close enough to the bullish order block on the weekly that we should see bullishness, However there is a possibility that it drops into the price range of the body of that last red weekly candle below current price (38,400 - 37,700)
Comment:
What price did I Say it woulds go down to? (38,400 - 37,700) that one?
Yeah, I got the original idea wrong. Bouncing off the this idea now to make up for it and its working. Doubled the lot sizes and 20 x'd Leverage.
You're either trading with Smart Money Theory or your just burning your money money. Believe me, I've been there.