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Breakofstructure

$ETH - Bullish Buy Entry Since Break Of Structure (1496)Since the most recent low of 1293, we have surpassed an intermediate high signifying a break of structure, hopefully turning a bit more bullish although I fully expect ETH to go sideways for quite some time due to gas fees and Cardano and PolkaDot taking up market share. Nevertheless, Etheereum is still in a class of it's own. I am expecting a pull back below current sell-side liquidity points but not lower than the bounce at 1420 or else that would shift the market structure bearish again in which you should be out of the trade anyway. Exit strategy would be to aim for equal highs where there are around 1605, 1677, and the last spike up around 1715. The third target is at the 162% extension which is a great confluence with this trade. These are my take profit zones. Checking on the 4 hour time frame is where I derived most of this idea. However there is a small gap that it could reach if it does get past the stop loss. 1398 -1413 is the "NO, But if Yes Entry" Zone. I don't want to see it get here but if it does I will reluctantly enter a trade once it EXITS this zone, not while it is entering it as it could drive down even further. Let me know your thought's. And Good Luck!
BITSTAMP:ETHUSDLong
by BodiesXWix
Backtesting retest Break of Market Structure on Multi TimeframeStrategy Create a zone from the order block which created break of market structure on 1D timeframe Wait for it to be tested on 4H timezone => which will create new 4H order block Trade the retest of that 4H order block Color coding & icon use Green boxes : 1D order block zone Yellow boxes : 4H order block zone Tick icon : Trade won on 4H Cross icon : Trade lost on 4H Circle with cross icon : Trade in breakeven Win / loss assumptions Win : 3R movement without breaking -1R Loss : -1R movement Breakeven : 1R movement, followed by -1R movement Risk Management 50% TP @ 1R 25% TP @ 2R 25% TP / Trade closure @ 3R RR achieved = 3R Net R achieved = 1.75R Strategy results Testing duration : Jan 2020 - Jan 2021 Wins = 16 Loss = 7 Breakeven = 4 Non-losers = 74% Absolute Winners = 59% Net RR = 21 Avg R/Win = 1.31R Avg R/Trade = 0.78R
Education
by makuchaku
8
$ETH - Be Wary - One Final "Drop" May Happen Before the Big PushI'm Bullish on Ethereum all the way. Now yesterday I made a call and so far we're still in profit from that call. However, there was a drop in the middle of the night (London session) That made me take a step back and look at it from another perspective. One thing I do is I usually don't measure wicks on the fib for entries to trades. However, this could be a different scenario to where that may play out. Why? Because there are equal lows right around 1152 that happened on January 15-16 GMT . Just below that is a Bullish Order Block. I jumped into the 5 min Chart to find this one. It's in the red Elipse just below the Liquidity/Support Level. Which is also right at the 70.5% of the retracement from that deep low to the current high. Also if you look at It from a 4HR view, There are no bearish 4 hr candles, possibly suggesting this is the overall correct fib. Keep in mind there has been a break of structure that happened yesterday which is suggesting that the price will most likely be going higher. This of course will be nullified if the price breaks and stays below a significant low. But instead, I think we may see something like this to where it get's close but it will just wipe out the liquidity resting near that 1152 level and hit somewhere between 1133 and 1142 before it bounces back up and we see a new high again. I pulled from another exchange for these prices and the equal low/liquidity level ended up being the same (1152), the Bullish order block ended up being the same (1133 - 1142) But the biggest difference was the spike down where we would draw the fib low or 100% level. The one in the examples low is 1072. The low in the Coinbase level was 1065. But of a difference there, which is why I said I don't like using wicks to measure these things. So just be wry of those price levels and don't be so worried about the Fibonacci entry. Good Luck and Happy Trading
BITFINEX:ETHUSDLong
by BodiesXWix
USD/JPY - Are the Bulls Back?Today was a significant day for the USD/JPY pair as we finally broke out of the 12-day period of consolidation. It is noteworthy that the consolidation phase was very tight giving us a 30-40 pip trading range for the whole period except some attempts to push upwards and downwards. While this period wasn't the best for trading as the price action was choppy and indecisive, that apparently formed us a descending trend-channel. The macroeconomic data out of the US has recently shown that the economy is currently performing well better than its major counterpart European. That has been clearly seen in the top currency pairs in the past few days. So given the current USD strength, the area around the 112.846 level seems to be the next target for bulls. Although, the Yen might soon become more favorable if the Bank of Japan keeps its monetary policy unchanged. The reasons for the continuation of the uptrend: 1. break of round nr - 112.000 2. the continuation of the smaller uptrend from 25th of March on the 1D timeframe (a continuation of higher highs and higher lows) 3. the price is above the 50, 100 and 200 EMA on the 1D timeframe 4. break of the 0.618 Fibonacci level There will be important macroeconomic data out of the US and Japan on Thursday and Friday so you should keep an eye on that as well. There remains a slight bearish case to the downside. This is my first post so let me know what do think of it. Cheers
by MI5
USDJPY - Is The Dollar In Trouble ? After seeing a series of higher highs and higher lows in a corrective ascending channel, we've now seen a lower high made which could potentially break structure. This was also the 3rd touch off the descending trend line around the 78.6% Fibonacci level. We then saw a break & retest of the ascending channel off the 61.8% Fibonacci level giving us the perfect entry for a sell. I have an entry and will be looking for more retracements to enter on this pair. News may also play a role as we have the FOMC Press Conference, announcing economic projections and Federal Funds Rate, as well as the first quarterly GDP statistics. These are volatile news events so take note of the date and time. There is also plenty more data coming out for the USD so I believe we can see the Japanese Yen being treated as a safe haven. As always, trade with risk management and have a great trading week ! Instagram: keownarcher
Short
by KeownArcher