SMC = Smart Money Concept. See related Ideas*
Price is entering a Bullish Order Block. As momentum is shifting and the Williams %R indicator isi at a low indicator a higher high. The price action should reflect that the price of
SOL to increase and fill the 15 minute Fair Value Gap Above near 111.28.
The stop limit is set at the bottom of the lower 15 min Bullish order block should it go lower into another 15 min FVG.
If you plan for multiple profit taking price points, in my opinion the first would be this one marked on this chart near 109.47
https://www.tradingview.com/x/F0hb1JH1/
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Price is entering a Bullish Order Block. As momentum is shifting and the Williams %R indicator isi at a low indicator a higher high. The price action should reflect that the price of
SOL to increase and fill the 15 minute Fair Value Gap Above near 111.28. The stop limit is set at the bottom of the lower 15 min Bullish order block should it go lower into another 15 min FVG.
If you plan for multiple profit taking price points, in my opinion the first would be this one marked on this chart near 109.47
https://www.tradingview.com/x/F0hb1JH1/
SOLUSDT SOLUSDTSOLUSDT SOLUSDT SOLUSDT SOLUSDT SOLUSDT SOLUSDT SOLUSDT SOLUSDT SOLUSDT Trade active
The Second profit taking target would be the second one marked in this chart, the short term high near 110.48Note
TP 1 and TP 2 have been hit. If you left a small portion or large portion after taking the profit, the price has now dipped back down into the buy area (if you didn't set the stop loss to break even) or if you did, you can re-buy into the trade as I'm still seeing signs of bullishness in the Williams %R indicator. And if you wanted to dro the S/L to 104 the ADR and ATR are both in the 1.2 range and I prefer to double that for a stop loss below the nearest low which would be near 106.8. So subtractinig 2.4 from that would put you at 104.4 which is below the daily low and should keep you safe from being stopped out.P.S. None of this actas Smart ual professional tradinig advice, this is only an observatin from my time as a SMC Student.
Trade closed: stop reached
Win on TP1 and TP2. But Stopped out either if you put the trade t o break even, kept the same S/L, OR entered the 2nd entry suggested. Either way,- if played correctly, it was a win. If n profits were taken, then it was a loss.
You're either trading with Smart Money Theory or your just burning your money money. Believe me, I've been there.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
You're either trading with Smart Money Theory or your just burning your money money. Believe me, I've been there.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.