JUST LOOK AT IT !! as i said before the block above price now was there for a long time !! but these days there has been too many attempts to not only reach into it , but break above it , but price failed again and again ! so what now ?? so if i want to give u the old technimant ideology , its a clean break and retrace . but !! as i have seen this thing...
I have interest in this orderblock/Supply zone. It has a great expansion or drop away from the level and it even left behind a fair value gap. But if price continues breaking swings to the downside, I will promptly lose interest in this sell set up. The drop, whether price retraces or not, is supported by the daily time frame where it seems that price is heading...
There is an Orderblock on the 5m with a fair value gap and a convincing expansion for me to see this as a sell opportunity. The target is just the take profit. Price can drop lower for the stack of liquidity below.
Prices took a short term high, giving us a shift in market structure, looking for pullback into a bullish order block or imbalance for a potential long entry. We are going to look for a fill of the sell-side imbalance.
*SMT = Smart Money Theory = everything you think that is not retail related to trading. First, SMT does not believe that triangles, wedges, trendlines, channels, harmonics, etc. has any effect on how price reacts. I'm Sorry but you won't convince me that Bitcoin knows it has created a triangle and that it knows how to react from that? It does and will remembers...
I see a nice set up here on bitcoin as price just tapped into a key level which should act as a bearish order block to head into last week low. From there price could reject or break which will determine what to expect once we are there. This is also a order flow logic trade idea which makes sense with what price is showing. thanks for watching
*SMT = Smart Money Theory aka Institutional Trading = everything you think that is not retail related to trading. First, SMT does not believe that triangles, wedges , trendlines , channels, harmonics, etc. has any effect on how price reacts. The second is to recognize that the price is not random, it is set by an algorithm controlled by those that control the...
***If you don't know Smart Money Technique Vocabulary, this may confuse you as we believe all charts in all markets are controlled by an algorithm, don't believe me? Pay attention to Inner Circle Trader. As his student, I've learned everything I know through him And he's so spot on*** It seems that bitcoin has made. Decent Run and no one can explain it. Well for...
Reason: Potential sell setup in the H1 bearish order block or from the 50% of imbalance if it fills.
Reason: 1. Break of structure 2. Mitigated 2h OB 3. Divergence
Reason: 1. Mitigated 4h bearish OB 2. Divergence 3. Wyckoff