#GBPUSD - GO LONG AFTER THE FALL? - *SMT*
*SMT = smart money theory = see relasted tutoprial regarding what smart money is. Sm,art money is how the charts can be manipulated, and how y0ourself can be manipulated into believing a false sense technical analysis.
With the price dropping in one day what iyt gained over the course of the week. The price has dropped below sell side liquidity levels, but to remain bullish needs to stay above a CERTAIN BULLISH ORDER BLOCK LEVEL, otherwise we could see the price turn right back around and go down for GBP, but I think the BOE will be quicker to adapt to the FED knowing the consequences now. S I would guesss that it is moving up into the the hourly fvg and then will get rejected above the premium by smart money, amnd that point it dips a little further, as to where y09ou can enter a second time afgter taking profit the first time around 1.22665 Enter again near 1.21420 if possible and continue to ride this up to 1.26090 to be safe.
I have two entries
both at 1.21420
First one reaches what is said above and you take your fiorst profit there, it could slip back down to the entrance or even further, into a small fair value gap below which I have prepared for on the second entry,. and ther stop losses at 1.21120 & 1.20525
the second run with the deeper stop loss also has a much larger target at 1.26090 ner the top of the bearish order block. the R:R is 6:1 and 5:1 respectively, so if this woprks out t he way I ho[e it doers in the next week or two, 10% can be added top the account if played correctly.
I was once the smarrt money student who has become an instructor. Let's Hope my intuitions are correct about thias.
With that said if you hit the first take profit but go out on the second sdtop loss, you should still be at a winning ratio. It's about how to grow yojur account. Everyday you won't hit a homerun. But if y0ou hold the bat long enough, the ball will go far.
Cheers, Good Luck and Good trading.
With the price dropping in one day what iyt gained over the course of the week. The price has dropped below sell side liquidity levels, but to remain bullish needs to stay above a CERTAIN BULLISH ORDER BLOCK LEVEL, otherwise we could see the price turn right back around and go down for GBP, but I think the BOE will be quicker to adapt to the FED knowing the consequences now. S I would guesss that it is moving up into the the hourly fvg and then will get rejected above the premium by smart money, amnd that point it dips a little further, as to where y09ou can enter a second time afgter taking profit the first time around 1.22665 Enter again near 1.21420 if possible and continue to ride this up to 1.26090 to be safe.
I have two entries
both at 1.21420
First one reaches what is said above and you take your fiorst profit there, it could slip back down to the entrance or even further, into a small fair value gap below which I have prepared for on the second entry,. and ther stop losses at 1.21120 & 1.20525
the second run with the deeper stop loss also has a much larger target at 1.26090 ner the top of the bearish order block. the R:R is 6:1 and 5:1 respectively, so if this woprks out t he way I ho[e it doers in the next week or two, 10% can be added top the account if played correctly.
I was once the smarrt money student who has become an instructor. Let's Hope my intuitions are correct about thias.
With that said if you hit the first take profit but go out on the second sdtop loss, you should still be at a winning ratio. It's about how to grow yojur account. Everyday you won't hit a homerun. But if y0ou hold the bat long enough, the ball will go far.
Cheers, Good Luck and Good trading.
You're either trading with Smart Money Theory or your just burning your money money. Believe me, I've been there.
That GBPUSD Chart did hit the bottom of the "breaker" but it never closed below 4-hour breaker. 1.20554 was the lowest it got (Chart close to where the current low is)
This is the breaker that is referenced in the Smart Money Tutorial, that I said would not close below. I have the red circle over the breaker block (Green Box) ... (the high candle on the low/high / lower low formation) But the process broke that high, Breaking the Structure as mentioned. When Breaking the Structure, the next step is to look for this "Breaker" and understand that the price should bounce off the bottom of the Breaker Block and then continue higher until we hit a bearish order block. (Breaker candle and the low in chart)
The next price should next bearish order block (1.25275 ish) Entry with
bearish order block
Bearish order block highlighted in the top left Median drawn up to a median of the blue breaker to be the area to aim for to take profit
Now that that chart has moved a little I hope this gives a little more insight into the breaker and its ability to be a support measurement.