Price has taken internal liquidity and is best set to return and sweep 20-30 pips higher to hit resting order to fuel a down move to clear out the corresponding external liquidity - this move will be expected within Tuesday - Wednesday, with London session creating the high of the week, we should be able to follow this down to the profit target, taking partial...
All annotations on graph fully explain my logic for this potential trade position which will need confirmation before entry, my first attempt of a live institutional set-up.
All feedback or comments are greatly appreciated!
Price is pulling back to a 15 minute order block (refined to 5 minute). I am looking for price to retrace and go long to fill previous imbalance marked as the outlined box. I then used fib golden zone to add extra confluence.
This is my first time trading XAU/USD so we'll see how it goes!
Price is pulling back to a 15 minute order block (also refined to 5 minute). I am then looking for price to retrace and fill in imbalance marked up as the outlined square. I also used fib (golden zone) for extra confluence.
I am not usually a gold trader this is my firdt ever gold markup so we'll see how it goes!
I hope everyone has had a great weekend and you're all getting ready for another profitable week like me 😎
This is as simple as it looks but I will break it down for you. My 71% to 76.8% Fib Retracement golden zone aligns perfectly with that footprint in the imbalance I've marked.
Most retail traders will see those equal lows and the bounce from 50% to 61.8% and...
NZDUSD is finishing the Accumulation Phase and slowly moving towards Distribution , we should first see Re-Accumulation and a Correction in the uptrend before starting Distribution.
Trading with the Smart Money - Wyckoff Method.
gbp usd has broken and retested the demand zone, banks/institutions have longed this from previous daily demand (green) and have no takene profit which is coincidentally consolidating around minor demand zone.
These sequences happen over and over and over again. Typical rally base rally move. Expect big bullish candles to occur.
I'm expecting price to return to the long term descending channel as there is a lot of liquidity there for the taking.
I expect this to happen via the channel breaking (wiping out stop losses) then price to continue downward. I have a trade idea already generated before price even reaches that destination, so when it does I am fully prepared for any...
Been away from trading due to holidays (Thank you Isreal you were amazing!!)
So here we are in a long term descending channel from a higher timeframe. Price will most certainly reach the top and re-test it.
And during this long term channel, we have a shorter ascending channel with a perfect place to enter.
If it was only that easy ever retail trader...
AUD/USD is at a monthly demand zone, there are numerous traps enticing retail traders to short. E.g. bouncing off the weekly trend line, and a so called area of resistance on the daily.
COT data also shows banks are becoming slightly bullish and reducing short positions.
Don't short basically.