$EURUSD - Judas swing to Bearish during London Session *SMT*
Updated
*SMT* - Smart Money Technique - This Means we don't base our technical analysis off trendlines, channels, harmonics, double tops double bottoms, or anything retail has ever taught you. We go off where the liquidity is likely to be setting so that smart money would be going after it to trigger the buy/sell limits and take them out with short stop-losses or chasing the trade. We think of daily bias first and use different methods such as the Asian range order blocks, breakers, etc. There's a lot of smart money vocabulary and if you're not familiar with it or the way it's presented, you may not understand this idea fully.
In the short term, the Discount price from the previous ran (61.8%) as a short is exactly where I put my entry, I believe it may get a little higher but I think it's going for Thursday as the low of the week (or high of the week) but Wednesday still has some Sell-side Liquidity it is drawing toward. It did hit the daily bearish order block wick during the trading session today but that could just mean it's going in a little deeper before turning bullish and I still think it has a ways to go in the bearish sentiment before turning bullish.
I could be complertely wrong and that it could turn bullish as we've hit the daily bullish order block already (but only the wick). But I have a feeling we'll be diving deeper before this pair turns bullish as it seeks liquidity.
We'll just have to wait and see. :)
Good Luck and Good trading
EURUSD
In the short term, the Discount price from the previous ran (61.8%) as a short is exactly where I put my entry, I believe it may get a little higher but I think it's going for Thursday as the low of the week (or high of the week) but Wednesday still has some Sell-side Liquidity it is drawing toward. It did hit the daily bearish order block wick during the trading session today but that could just mean it's going in a little deeper before turning bullish and I still think it has a ways to go in the bearish sentiment before turning bullish.
I could be complertely wrong and that it could turn bullish as we've hit the daily bullish order block already (but only the wick). But I have a feeling we'll be diving deeper before this pair turns bullish as it seeks liquidity.
We'll just have to wait and see. :)
Good Luck and Good trading
EURUSDTrade closed manually
closed t break even. Didn't wake up in the middle of the night to close it in profit
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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