Tedzily

$EURUSD - Buy now as it lowers into liquidity - SMT

OANDA:EURUSD   Euro / U.S. Dollar
**SMT - SmartMoney Technique***

Went Below the Liquidity area sucking people in to sell. The bias is Bearish on the Dollar overall. Waiting give yourself a decent stop loss. Mine is crrently 22 pips and my first take profit will be the high at 1.6675. Ultimately trying to reach the next daily bearish order block before we see a major retrace.

Will fill in more
Trade active: **SMT - SmartMoney Technique - What is that? It means the chart is an ever manipulated algorithm and the candles are your clues to understanding what may happen next It Means we don't believe in retail theory, no trendlines to trade off of, no Harmonics, very little indicator usage if at all, no channels, and definitely no supply and demand. Learn from a smart money instructor on the vocabulary as you may get lost ***

First I measured the Asian Session. I went to the 4-hour chart and measured the only 4-hour Fair Value Gap
Chart of 4 hrs FGV:
I knew it would eventually turn bullish but I was trying to appropriately understand when. I knew it would be below the low of the Asian Session, and started to notice equal lows on the 15 min chart below the 4-hour fair value gap. I waited until the "opening" (midnight NY TIME) price went below the Liquidity area (1.16420), Each time as it's moving and I'm paying attention and moving along I'm finding new Fair Value Gaps and Order Blocks and note them all.
Here's a 15 min chart WITH DETAILS:
here's a 5 min chart WITH DETAILS:
During the London Killzone (2 am - 4 am Eastern time U.S.) THE price finally went below the area I was looking at for liquidity. Unfortunately, that same candle I went long on made an equal low with another candle. It's possible we can still go lower, like 1.16355, but I gave myself enough room that I don't think I'll be worried about a stop loss. I knew this was sucking in retail to sell, Smart Money is just bout the exact opposite of retail. And with the evidence we saw today that Eurusd wanted to higher, I believe the same is true now. I don't think the economic numbers will be great for the DXY in the morning so I was just positioning myself for a good long if possible. And I think I may have found it.

My bias is Bearish on the Dollar overall. This time I actually gave myself a decent stop loss after getting knocked out with a 4 pip S/L the last time. Currently at 22 pips s/l and my first take profit will be high at 1.6675. Ultimately trying to reach the next daily bearish order block before we see a larger retrace.

With Bitcoin creating new highs this week, and likely to continue, I think the confidence in the dollar is lost and it's being shown in crypto and in here when it pivots from a low and starting to get higher highs.

But for now, Let's just hope we can get this one trade right. I'll look at similar ones as well.