DXY is in tighter ranges forcing a breakout or breakdown pretty much soon.
I'm anticipating a strong move up into known highs before moving back down. Might actually make another high, creating the illusion of double tops and then a stoprun up before moving down.
We'll see how this goes. Good luck!
GBPUSD hit the bullish orderblock.
Confirmed when we saw accumulation on the hourly and 15 minute charts. Long entry will soon make itself known. If I see it, I'll post it. NOTE TO SELF: If not, I'll be happy not trading this. I don't need to trade every single opportunity. I just need to trade the high probability ones.
GBPUSD is clearing stops before the big move. This is the market manipulation to cause your stops to get hit. I would stay out of trouble and wait for a safer entry on the long. Don't scalp unless that's your thrill.
We haven't reached the low of the range after moving out of the Higher Timeframe (HTF) Equilibrium.
Earlier I (over)analyzed the situation and thought it would recapitalize lower because it got down so sharply and so close to the low of the range. Now that we've moved out and had a Lower Timeframe move back to the equilibrium, this next move down has a high...
Sorry been a bit busy lately. Have been in this short, didn't take the time to pin the idea here. I wanted to magnify the measured move concept here (after the fact yeah I know). But really it's because it helps find a point out of your trades or (if you don't want out) at least help identify where we are in the larger perspectives.
For those still short, I...
My notes on the ICT Breaker concept.
The Breaker The open float usually gets knocked out by the Smart Money.
When that happens, the move up to trigger stoplosses is called the breaker:
Bearish breakers are runs lower
Clearing out the previous low
Transforming in a bullish market
The bottomlevel orderblock will not be reached by the retracement down
Chart using ICT orderblocks. Would rather see DXY make a small retracement at 96.2 because it can then regain strength to make a higher high. Breaks are moments we need to closely monitor price action on a lower timeframe. Technically price should not trade into the orderblocks too far, since most of these barely have any wicks. In other words, we are going to...
Multiple scenario's drawn out for EURJPY. I myself haven't traded EURJPY a lot, but the orderblocks seem consistently promising at the moment. It could be that the monthly support is going to cause a stronger bounce. The strength of the bounce shouldn't matter. Reconsider your options at every 'crossing' of the arrows representing potential orderblocks. I'm...
As mentioned on the callout, we're likely to see a run up into the old high and beyond to take them out. Or it'll not take it out and just keep pushing down. This is a followup of the earlier NZDUSD idea mentioned below under related ideas. Good luck!
Okay let's have a look at what we can see happening. EURGBP stabbed into the bearish orderblock as shown in the chart on the 7th & 8th month. The 9th month (right now) is the logical reaction of the move away from the bearish orderblock.
- The formation of the bearish orderblock happened above 0.835 , meaning this will likely be absolute max for the...