As you know, institutions do manipulate the market. We can see that many times liquidity (retail traders stop losses, sell limit etc) was hit before continuing the normal trend. This might be a good entry point for a short position since the market after taking the liquidity returned to its previous high to then sell off at our entry point.
Hello everyone! As you know, institutions do manipulate the market. We can see that many times liquidity (retail traders stop losses, sell limit etc) were hit before continuing the normal trend. This might be a good entry point for a short position since the market after taking the liquidity returned to its previous high to then sell off at our entry point. ...
Wait for a possible stophunt or check the price action on 5-15m timeframe.
Price broke the previous uptrend without retesting aiming the previous support liquidity area, leaving an imbalance at 1906-1895. After a period of consolidation price created a downtrend formed a new trend liquidity which then were swept by a single instututional candle before creating the recover of the previous break. Now price is going to the imbalance area...
4hr structure price is creating lower lows from the previous high we had POI , so we are basically waiting for the 50-55% retest of those institutional candles which is the area 88.60 on fibs. Sl 20 pips because price might come to the liquidity area , swep it and then coming down. There i would go for a possible stophunt. Let's see the price action as soon as NY is open
This is what that short might look like. There's a bearish order block just above the Unbalanced Gap on Jan 19 at 2100 CST at the price of 1396.05 I'm leaving quite a bit of room to be in the red because I see a possibility that it could spike throught the high once again before the fall so I added an extra $10 to the high. But I've been saying it for two days...
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Over extended. You can wait for a HH or a break and retest just below the .77 handle (yearly open level). Happy Trading !
Looking to go short on GBPNZD lot of confluence on the trade 1) Sitting on my institutional level 1.9150 2) Making a trendline rule i use in taking trade 3)The market is in overall downtrend But i am still waiting for candlesticks formation to hop on this if there is no candlestick confirmation then am not taking the trade
On my last post i mentioned DXY should drop to that trend and during that drop USD should be weak which actually played out i took advantage of it caught a buy on EURUSD and a sell on USDCAD so now i expect DXY to gain strength so USD should become strong now And i also have a setup for EURUSD sell which is a good correlation EURUSD setup in my next post
Overall I am on a buy on GBPJPY ive closed some partial i am look to taked an hedging position on GBPJPY so i an taken a sell right now
I will be keeping an eye out for a retest at 1.69750 to go long on EURNZD and ride it up to 1.7100
Price has continued to take out highs, where liquidities are rested... looking at how price took out the liquidity below and rallied to the upside, a mitigation is expected on the last bearish candle before the rally up. 1.5785 First Profit Target, R:R 1:4.3 1.5970 Overall Profit Target, R:R 1:7.69
Price Mitigation on H1 OB Imbalance filled, Reversal should be in place
Will be keeping an eye on AUDJPY also if price get to my first support and touches that trend and gives some good rejection then i will be looking to go but if it breaks that support then i will be looking out for the next support 78.75 as another point to go long on AUDJPY
Looking at a potential 1:55 short on EURUSD, my bias is relevant to DXY. Expecting retracement on Monday to clear up Thursday/Friday liquidity. My POI is based off of a BTS that needs mitigating, as it has taken out EQH's and left and IMB after it which is all signs of Smart Money. The market has left some EQH's to be taken out on the way to the POI, with IMB's...