On May 9th we see price run below the low of May 6th and then quickly reverses back above the low (the stop hunt). Price then breaks market structure to the upside, as indicated on the chart by the grey arrow pointing to the right. If you read my previous post, then you are aware of what we are looking for as institutional traders once we see this type of price...
Open positions running... expecting a pullback on USDCAD in the short-term (next couple weeks). Check my profile for more info on us, and how we trade. Cheers!
Is not supply and demand... chart pattern or harmonic pattern and no indicators :) i dont use zone, but i use specific level. i use fibs only to find equilibrium and OTE. Currently price hovering arround mid level of parent swing, normally price will play in the middle of the range at FOMC week. Find your liquidity, or you are the liquidity. if you enjoy my...
*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. The second is to recognize that the price is not random, it is set by an algorithm controlled by those that control the asset. The Third thing to...
**Smart Money is the opposite teachings of what you're normally taught through retail - Everything is an algorithm. Price isn't random. There is no buying and selling pressure, there is no supply and demand... It's just an algorithm and the candles are the clues*** Not Much to think about except the Bullish Order Block aligns with the bottom of the 1-hour fir...
"Amateurs think about how much money they can make. Professionals think about how much money they could lose." –Jack Schwager.
Nasdaq retracing before NY open as expected. Could be seeing the end of Septembers correction this week.
After a sweet of liquidity yesterday, i am expecting price to move back to the order block as a form of mitigation. I a not a financial advisor
EURCAD "f most traders would learn to sit on their hands 50 percent of the time, they would make a lot more money." - Bill Lipschutz
Gap filled, corrected bearish rally with this bullish push with last FOMC and price mitigated a daily OB. next target should be to correct the imbalanced formed with last FOMC and raid all the liquidity below 89.0, price can potentially break thru 89 and target 79 which would be the next big liquidity pool
GBPCHF "The hard work in trading comes in the preparation. The actual process of trading, however, should be effortless." - Jack Schwager
CORN "Do more of what works and less of what doesn't."
AUDJPY "Handling risk is the key for longevity." - Ed Seykota
USDZAR "If you are not trading at the right price the risk-reward will never be in your favor, that's why professionals do what the market tells them and not the other way around."
EURAUD "The saying buy low and sell high is the key to success in forex trading. Novice traders want a confirmation of a bullish trend before they buy."
GBPCHF "Risk management is the secret of an astute trader. Low risk high probability entries is the key to trading longevity and success."