Using smart money concepts to get trades with great RISK TO REWA
Keeping my chart clean and easy to understand I'm locating points of interest. Areas where price would most likely go for a buy.
In the higher time frames we get our bias which is a buy. Now I've located a double bottom which in effect means liquid it. Price is most likely going for a stop raid of this liquidity or liquidity grab and get momentum for the buy.
To add confluence I looked at that level and located an order block in the 1hour time frame and I've refined it using 30 minutes time frames.
This order block is valid because it broke structure, it has volume and the momentum after it was nice. Also its at a level of supply at which price would buy off from.
I'm using the daily timeframe to picture this setup so our points of interest would be visible.
We can either set buy limits at 127.454 or wait for price to get to that level and lookout for a wyckoff accumulation to ensue to get sniper entry in 1minute or 5 minute time frame.
Our stop loss would be at 127.401. Which makes our risk be at about 5 pips if we enter at 127.454.
Our take profit would be 132.691 our reward is about 52 pips
Our risk reward therefore would be a 1 to 10 RR
Follow me so as to be notified for the wyckoff entry in the 1minute time frame.
In the higher time frames we get our bias which is a buy. Now I've located a double bottom which in effect means liquid it. Price is most likely going for a stop raid of this liquidity or liquidity grab and get momentum for the buy.
To add confluence I looked at that level and located an order block in the 1hour time frame and I've refined it using 30 minutes time frames.
This order block is valid because it broke structure, it has volume and the momentum after it was nice. Also its at a level of supply at which price would buy off from.
I'm using the daily timeframe to picture this setup so our points of interest would be visible.
We can either set buy limits at 127.454 or wait for price to get to that level and lookout for a wyckoff accumulation to ensue to get sniper entry in 1minute or 5 minute time frame.
Our stop loss would be at 127.401. Which makes our risk be at about 5 pips if we enter at 127.454.
Our take profit would be 132.691 our reward is about 52 pips
Our risk reward therefore would be a 1 to 10 RR
Follow me so as to be notified for the wyckoff entry in the 1minute time frame.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.