$APE - BoS on 4HR -Long at Order Block *SMT*
Updated
*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. I'm Sorry but you won't convince me that Bitcoin knows it has created a triangle and that it knows how to react from that? It does and will remembers price levels, that's it. 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 remember is price will move toward attacking where there is Liquidity (Equal Highs, Equasl Lows, phantom Trendlines etc.) and Balance (Fair Value Gaps, Liquidity Voids.) That's the basics. The rest is very unique in the vocabulary you need to have and the concepts that wrap around these ideas.
APE has been all over the place lately. However, with Smart Money theory, we canb digest where this coin is going next. On the 1 hour time fram it looks as if this is going south. Buit larger time frames Trump smaller ones. The 4 hr time fram has a break of Structure, meaning that the 4 hour candles close higher than the previous highs close. The Wicks do not matter, the closes are what matter. And with the 4 hour closing much higher, this is a bullish sign to the chart. Therefore according to Smart Money theory, we should see a bullish move at the order block which it has just entered. the order block is the last bearish candle prior to a bullish candle that closes above it.
(P.S. I Found a great indicator for Smart Money Markings. Search for "Super Order Blocks / FVG / BOS TOOLS" in the "Indicators" section and that's the indicator, you'll see they've coded exactly how I normally make my charts. I copied the code and changed a few thingas in the codie to my liking and renamed it ICT TOOLS anmd left the original authors of the code in the name)
So it has entered the order block and it can go as far as the bottom, however, it really shouldn't go past the median of the body of the 4 hour bearish candle, which is where the prange box is, in all honesty. If it does it could be more bearish. I do not believe this will be the case. So I'm Longing it here and aiming for the first high just prior the bearish order block.
If you don't feel comfortable with the full take profit area, I have marked 3 price points in which you should be able to safely take a little profit at each one and move your stop loss up each time you hit one of these take profit points here is the chart the the take profit price points
We'll just have to wait and see if I am correct on my assessment
Cheers
APE has been all over the place lately. However, with Smart Money theory, we canb digest where this coin is going next. On the 1 hour time fram it looks as if this is going south. Buit larger time frames Trump smaller ones. The 4 hr time fram has a break of Structure, meaning that the 4 hour candles close higher than the previous highs close. The Wicks do not matter, the closes are what matter. And with the 4 hour closing much higher, this is a bullish sign to the chart. Therefore according to Smart Money theory, we should see a bullish move at the order block which it has just entered. the order block is the last bearish candle prior to a bullish candle that closes above it.
(P.S. I Found a great indicator for Smart Money Markings. Search for "Super Order Blocks / FVG / BOS TOOLS" in the "Indicators" section and that's the indicator, you'll see they've coded exactly how I normally make my charts. I copied the code and changed a few thingas in the codie to my liking and renamed it ICT TOOLS anmd left the original authors of the code in the name)
So it has entered the order block and it can go as far as the bottom, however, it really shouldn't go past the median of the body of the 4 hour bearish candle, which is where the prange box is, in all honesty. If it does it could be more bearish. I do not believe this will be the case. So I'm Longing it here and aiming for the first high just prior the bearish order block.
If you don't feel comfortable with the full take profit area, I have marked 3 price points in which you should be able to safely take a little profit at each one and move your stop loss up each time you hit one of these take profit points here is the chart the the take profit price points
We'll just have to wait and see if I am correct on my assessment
Cheers
Note
In the 15 minute chart, price hit the median of the fair value gap which was also the bearish order block. It seemed to have tried to pull back but is still marching forward. If it does make a pullback it will be in the form of an Institutional order Flow Entry Drill which means it will barely enter the fair value gap Below and continue it's bullish runNote
Boom Called it. I closed my first position near the top of the 15 min FVG and just opened a second position as soon as it entered the fair value gapNote
Ok it looks like its heading toward the sell side liquidity and even lower where the is another fair value gap with an order block on the 15 mint that is right at the median of the larger 4 hour bullish order block. That is where I will load up on my position.Trade active
Entered the FVG at 19.50 which is where I set my limit so my positiona has expanded . Now it's kjust time to see if it gets down to the order block or if it just Bulls up from here. Note
So at first it entered the Fair value gap and just grazed the order block for a small bullish turn, but it has now entered into at least half of the 15 min order blockAnd is still within the 4 hour order block.
the only thing that worries me is the double lows near the 16.18 mark, So I'm treading lightly with my longs now but I'm pretty sure where it is currently is a force to be pushing up now.
Note
All I have to say is I hope you were followong along with my updates, if you were you would not be out as the original chart shows. If you just set the limit stop loss and take profit, that is something you should never do and just hoptie it works, cgharts are alweays changing which measn the analysis can change. Once I reakized we were going to go down further I sold 90 % of my position off and lowered my leverage. This slowed down the losses, and oce it popped below the sel side liquidity, I added a small amount back in. But I'm not going to add a substanial amount amount until we clear the 16.80 level lower, or we until more Break of Structure bullish ness, then I'll wat for thje pull back to add a lot.
You're either trading with Smart Money Theory or your just burning your money money. Believe me, I've been there.
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