This is a revised analysis on EURCAD.
The steps to finding a trading opportunity:-
1. Check Bullish/Bearish Orderflow on H4 timeframe.
2. Drop down to H1 timeframe look for either Bos or Choch.
3. Identify your order block zone for a buy or sell.
4. Check for Imbalance (sometimes it might not be there.
5. Once you have your zone wait for market to come back to...
SMART MONEY CONCEPT
1. Determine the market order flow from the H4
2. Spot the major swing points
3. External and Internal structure
4. Drop down to H1 to find trading opportunities
5. Identify market structure, trade from ChoCh or BOS
6. Order block that caused ChoCH or BOS
7. Use FIB to determine OB level
8. Check for IMB (not always there)
This article has examples and live examples of:
- How to draw and know the market structure: BOS, CHOCH
- Order blocks: which is our supply and demand zones basically (these are our entry zones)
- Liquidity spots $$$
- Trendline examples: basically to know current market direction
- Entry examples with SL and TP placed to illustrate
