Long

40R EURUSD Long Swing Trade (Smart Money Concepts)

Updated

Testing one of my smart money concepts swing trading strategies using an early entry based on day trading setup. The setup normally involves a sweep of a 4h choch/MSS deep in premium/discount, then a daily pin bar or hammer, or a 4h choch.

Previous Day Opening Gap has been filled on DXY as well as three months of liquidity swept.

This early entry utilizes a long from a trendline following another strategy of mine. If successful, will take the majority of the position off after daily FVG fills and leave some on to run as a swing trade.

Note

here's the macro perspective. I don't know how to post two charts when creating the idea:

Note

So far so good, but before getting all the way to 40R, first hurdle is getting over this intra-day high

Note

...And we closed above! Stoploss to breakeven. If we go below the entry now, this setup would go in the bin and a fresh entry can be devised.

Note

Its looking bearish in the short term. This is where I would take off 75-80% of my position. Still 4R. 75% on a 100k account at 1% risk is 3 grand. Dont mind if I do!

Just another reminder that you always take partials when trading with SMC. Price is more likely to move less distance than more distance. We live to fight another day.

Note

If you're brave, you could even hedge this short:

Note

Wow half way already. I would take a partial here in case of swing failure. Nobody went broke taking a profit they say.. especially not at 20R.

Note

Always take partials ;)

SmartMoneyConceptsOnYouTube

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.