$XRP - Bearish near .492 - 3 pivots to Watch *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 Tasla or Bitcoin knows it has created a triangle and that it knows how to react from that? It does and will remember 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 do 2 things 1) move toward attacking where there is Liquidity (Equal Highs, Equal Lows, phantom Trendlines etc.) and 2) Move toward Imbalance (Fair Value Gaps, Liquidity Voids. Open Gaps) That's the basics. The rest is very unique in the vocabulary you need to have and the concepts that wrap around these ideas.*
Price moving up into Fair Value Gap in 1 hr
marked in red on chart marked
Opening gap that price just reached...will it continue or move back down now?
Near that area will be bearish order block and get rejected and should move down to at least near $0.4455. I'll be setting limits on the three levels to ensure I at least take home a profit. 75% at 0.4455, 15% @ 0.42860, 5% @0.40241
We'll see what happens
Price moving up into Fair Value Gap in 1 hr
Opening gap that price just reached...will it continue or move back down now?
Near that area will be bearish order block and get rejected and should move down to at least near $0.4455. I'll be setting limits on the three levels to ensure I at least take home a profit. 75% at 0.4455, 15% @ 0.42860, 5% @0.40241
We'll see what happens
Trade active
Update: So Far All it took was the entrance of the fair value gap in that 1 hour just below my original entrance is where I entered short. I'm using phemex this time for a short contract and it says My entrance was .4890. Everyone in the order book is going long. Hahahaha! Note
Sorry entrance was 0,4860 not 90, just a correction. And my leverage is 5 xNote
well it hit my first take profit. S/L moved down to entrance. Moved the total TP up to .40545 Note
it hit take profit 2
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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