This chart is a technical analysis of the USD/CAD currency pair, and it includes several Smart Money Concepts (SMC) tools and patterns. Here's a breakdown of what is being used:
1. Smart Money Concepts (SMC) Tools/Terms:
CHOCH (Change of Character): Indicates a potential shift in market structure.
BOS (Break of Structure): Highlights significant price level breaks suggesting trend continuation or reversal.
FVG (Fair Value Gap): An imbalance area between candles where price is expected to return to “fill the gap.”
OB (Order Block): A key supply/demand zone where institutions likely placed large orders.
SSL (Sell-Side Liquidity): Targeting liquidity below recent lows.
LQD (Liquidity Zone):* High probability area where liquidity is expected to be collected.
0.M TOP / 0 TOP:* Possibly referring to market structure tops, indicating resistance or liquidity grab zones.
2. Trendlines & Support/Resistance:
Downtrend line: Marked by diagonal lines showing bearish momentum.
Horizontal support/resistance:* Used to identify key levels where price has reacted in the past.
3. Volume Profile (on the right):
Shows the *Volume Profile* or *Visible Range Volume Profile (VPVR), highlighting where most trading volume has occurred, indicating strong support/resistance levels.
4. Trade Setup Information:
Entry and Exit Levels:* Indicated with OB zone and FVG.
Risk/Reward Ratio:* Displayed as 5.61.
Target & Stop Loss:* Clearly marked with associated price, percentage, and pip value.
5. Indicators & Tools Toolbar:*
Top bar shows typical TradingView tools like trendlines, Fib retracement, long/short position tools, etc.
This analysis is a solid representation of *institutional trading strategies* using *price action, liquidity concepts, and market structure*. Are you looking to learn how to apply these Smart Money Concepts in your own trading?
This is my analysis. What you think about "USDCAD", write in comment section. Thanks.
1. Smart Money Concepts (SMC) Tools/Terms:
CHOCH (Change of Character): Indicates a potential shift in market structure.
BOS (Break of Structure): Highlights significant price level breaks suggesting trend continuation or reversal.
FVG (Fair Value Gap): An imbalance area between candles where price is expected to return to “fill the gap.”
OB (Order Block): A key supply/demand zone where institutions likely placed large orders.
SSL (Sell-Side Liquidity): Targeting liquidity below recent lows.
LQD (Liquidity Zone):* High probability area where liquidity is expected to be collected.
0.M TOP / 0 TOP:* Possibly referring to market structure tops, indicating resistance or liquidity grab zones.
2. Trendlines & Support/Resistance:
Downtrend line: Marked by diagonal lines showing bearish momentum.
Horizontal support/resistance:* Used to identify key levels where price has reacted in the past.
3. Volume Profile (on the right):
Shows the *Volume Profile* or *Visible Range Volume Profile (VPVR), highlighting where most trading volume has occurred, indicating strong support/resistance levels.
4. Trade Setup Information:
Entry and Exit Levels:* Indicated with OB zone and FVG.
Risk/Reward Ratio:* Displayed as 5.61.
Target & Stop Loss:* Clearly marked with associated price, percentage, and pip value.
5. Indicators & Tools Toolbar:*
Top bar shows typical TradingView tools like trendlines, Fib retracement, long/short position tools, etc.
This analysis is a solid representation of *institutional trading strategies* using *price action, liquidity concepts, and market structure*. Are you looking to learn how to apply these Smart Money Concepts in your own trading?
This is my analysis. What you think about "USDCAD", write in comment section. Thanks.
Trade active
Bullish entry 1.38900target 1.39800
target 1.40800
target 1.42400
stop loss 1.37600
use proper risk management.
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.
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.