Orderblocks
USD uptrend is an year older, What nextHello traders,
We are in the third quarter and checking the weekly timeframe the last Bullish Orderblock ( BuOB ) was formed last week after over-riding a previous Bearish Orderblock ( BeOB )
I see no sign of the Dollar changing the order flow yet.
I expect that the price should be pushed higher to the consolidation zone since this is what seems to happen after a BuOB is created.
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[Apple] Can you break the top of the wedge?#AAPL #NASDAQ #1D
- Here’s Apple daily chart. Compared to other stocks within NASDAQ, the correction of Apple is not that much fearful, YET.
- After breaking bottom of the black channel and blue trendline, it dropped about 14% more and at the same time formed a green falling wedge.
- I would definitely be bullish in short-term if Apple breaks top of the wedge and for those looking for breakout entry, keep an eye on this falling wedge.
- If it successfully breaks above, a well-designed trading setup can be secured targeting my first resistance area around $147~$149 which is the confluence zone of 0.382 retracement level and POC of previous HVP.
- Another potential resistance that I am considering is at the retest area of the blue trendline located around $155~$157.
- If the market becomes more bearish, in other word if Apple gets rejected by the top of the wedge once more and makes a LL, I am expecting decent price actions at $123~$125 and $117~$119.
- These supports have been deducted by various technical elements drawn in the chart such as wedge bottom, trendlines, Log-trendline, previous VP areas(Orderblocks), Fibonacci projection levels, and retracement levels, etc.
Bitcoin (BTC/USD) Going Down – Enter At The Pull BackHi Traders,
Looking at BITCOIN (BTC/USD) Today.
We are in the 4-hour time frame.
We have, unfortunately, for now, had that possible V bottom recovery invalidated.
This is because we have broken below the most recent low, so now we are looking for further sell opportunities.
I have highlighted my order block zone in yellow.
I am waiting for the price to retrace back into the yellow zone and then once the price touches the 50 % point inside the zone, my sell order will trigger with targets being previous support.
The previous support structure is the lowest low we have seen for Bitcoin this year.
I'm a crypto bull long-term, but if an opportunity presents itself, I take it.
Remember, no emotions, just strategy. Trade like a robot.
Trade safe out there!
The Vortex Trader
Market structure basics - SMCIn this example, we are going over the basic terminologies of market structure we use in Sonarlab.
Terminology Market Structure
BOS: Break Of Structure - we use this terminology when a swing high or low gets broken when a trend continues.
CHoCH: Change of Character - we use this when there is a change in trend.
SH: Swing High
SL: Swing Low
Protected SH/SL: the swing high that is likely to hold since it is in sync with the trend
USD/CHF: Bullish channel formationU.S. Dollar/Swiss Franc forming a bullish channel formation. At the moment, there's not entry yet.
But if you look in H4 timeframe, we forming a demand zone that I mark in this blue arrow with some confluence that USD/CHF could to forming a demand zone here.
For that, we would need to wait to know the price action!!!
GBP/USD Order Block Zone On The Daily Time FrameHi Traders,
Looking at GBP/USD on the Daily today.
Notice the descending trend line since the beginning of the year.
We haven’t broken through this entire year and we have been making lower lows and lower highs all this time.
This means that my overall bias on this pair is still bearish.
I have marked up an Order block zone highlighted in blue.
If we see a retrace up to that zone, I will consider going short only if my requirements with volume are met.
This requirement is that the retracing volume cannot be larger than the bearish impulsive volume that sent the price down past previous support.
If the retracement volume is larger then I will have to re-think and perhaps start looking for long setups.
Trade safe out there!
The Vortex Trader