After seeing the reaction of Asia making a new low and seeing that London has just made a new low I had marked a buy order in the middle of the 4H FVG as if it was respected it would be a great opportunity to continue rising until the next bullish 4H FVG. BINANCE:ETHUSDT
The price faced a rejection at the 4H fair value gap, which I saw as a prime opportunity to enter a short position. My plan is to target the sell stops for profits, but I'm also mindful of the potential for further decline. Given Bitcoin's current momentum and the risk of a sharp drop, altcoins like Cardano could experience significant losses. I'm staying cautious...
Going into next week I calculate fair value for the S&P 500 to be between 5,400 and 4,800 with an average target of 5,100 over the next 12 months. The low end of the range factors in any chance that we see the economy creep to a stagnant point over the next 12 months. If by some miracle the economy should continue to experience above average GDP growth, the S&P...
Improved idea than the previous one. Always with good risk management I decided to open two long positions on the ETHUSD pair. My risk is 0.33% on one position and the other 0.17% risk of the total value of my account which makes a total value of 0.50% risk. I will probably look to give the bid a chance before turning in favour of the ask. My two positions are...
It looks like the price of bitcoin could cause a small opportunity search for the supply side and for that reason could fill the 4-hour fair value gap. My point would be to enter this fair value gap 4H as it is an area of fair value and could lead to higher prices such as the swing high of $65k. BINANCE:BTCUSD
Starting a new week, I am expecting to reach the previous high. So, from the fair value area, I am looking for a long position entry in the second fair value gap 4h with the stop loss in the swing low. BINANCE:ETHUSD
Rounding out Chapter 1 of the book "Price Action Breakdown..." I am asked to label moves as initiative and responsive based on how the author has described initiative and responsive. From his perspective initiative is when buyers/sellers decide that price is no longer agreeable and take the initiative to move it up or down, hence the name initiative. Responsive is...
I have some text on the chart that explains a little bit. The idea is I'm trying to do some active reading from the book called "Price Action Breakdown". The first chapter suggests you do this exercise. That is my only goal with this. If there is someone else in the learning stages, or refreshing stages, please feel free to comment how you would do it differently,...