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Asianrange

$EURUSD - End Of Week - Economic Calendar vs. Algorithm (SMT)***SMT = Smart Money Technique = the lck of believe and use of retail theory strategies. It is an algorithm that seeks liquidity and balance. We doon't trade off trndlines, no do we follow channels, or harminics, or belive in supply and demand. There's al Algorrithm nd the Candles givee you the keys. per ICT. And I could be extremely off for this. AAAlright so it seems that the Euro has been slowly going down throughout the week. I don't see tomorrow being much different even with NFP numbers coming out. It is acting as if there is still liquiidity to be broken on the sell side. Especially the equal lows right at 1.15400. I think it will break a little higher during the London session and cross the Median of the 15 min Fair Value Gap, probably even cover the FVG it and hit the bearish order block before dropping. One scenario I do have is it hitting that 1.15450 area aas it is a bullish order block under a FVG and stopping there and slowly moving up since it is the end of the week. Howeever, It is NFP Friday, the worst day to trade, So I'm not going to even thinkin about trading this. But I'm putting out my guess as to wht would possibly happen. What we're looking at just below a few deviations below the Asian Range as well as using the fib for a short sell after it gets above premium and into that median of the 15 Min FVG gap around 1.15750, I wouldn't be surprised if thats the time we get the worst volitlitity and people chase it up aand it does go up for a brief moment but then it just falls straight though the Liquidity /equal low area at 1.15400 and the straight on throught to the 175% exxtenssion which just so happens to also be the Mar High of 2020 during the high volatility of Covid around 1.154115 which is also inside a dailly order Block. Chart Seen Here:: We'll just have to wit and see what happens. Happy Trading
Short
by BodiesXWix
EURAUD 15M BIG BEN BREAKOUT TRADING STRATEGYRule #1 Define the London Trading Range We’re going to use the range definition that takes into consideration only the body of the candles, excluding the wicks. Note* this trading rule can be adapted as you get more experienced at reading the price action. This strategy works because the Asia trading range tends to attract buy and sell stops above and below the trading range. The bulk of buying and selling stops becomes an easy target for the smart money. Remember that traders need liquidity to execute their orders. And, the smart money is always in search of liquidity to fill their large orders. That’s the reason why the smart money needs to trigger those stops. Rule #2: The One-Hour before the London Open Needs to Generate the Breakout Our backtesting results revealed that momentum really starts to pick up 1-hour earlier than the actual London opening session. There are some smart ways to trade this burst of momentum. Let’s see some technical ways to trade the pre-London open. We don’t need to guess in which way the market will break, we let the market tip his hand and show us the way. This is where things get interesting. Let me explain… During the London session we’re going to see the most traded volume thus the foreign exchange market should really take off in one direction or another. Rule #3 Price needs to fade Immediately after the London session opens, we want to see the price fading the pre-open move. If the move starts fading, we know it was a false breakout. Smart money has used the pre-open move to trigger the stops above the range and now they reverse the tie and start selling. We want to see price pulling back into the range at the same speed as it went up. Let me explain… In simple words, the bearish momentum used to produce the false breakout needs to be equal to the bullish momentum used to fade the pre-open move. We enter our trade after the first 5-minutes have confirmed that the price is reversing. Once this trade setup is completed, you should see a price formation that takes the V-shaped form (or inverse V-shape). Rule #4 Take Profit or Ride the Trend We can measure the size of the Asia trading range and project from the top or bottom of our range to get our profit target. But, oftentimes this type of setup can lead to a trading day that can extend in the days to come. Now, in this case, it’s wise if you employ other trading tactics so you can actually profit from this trend. In this example, the better take profit strategy would be to use a trailing stop. You need to be ready to explore other trading methods to manage your trades. Rule #5 Use a Time Stop Instead of a Price Stop In order to fade the London breakout, you need to use unconventional trading methods. In this regard, for our stop loss trading strategy we’re going to use a time stop instead of a price stop. The first time I’ve ever heard about the time stop concept was while reading the Market Wizards book. Billionaire Hedge Fund manager Paul Tudor Jones one of the greatest traders of our times said: “When I trade, I don’t just use a price stop, I also use a time stop.” So, how to apply the time stop to the London strategy? It’s very simple… If, in the first hour after the London open the price didn’t COMPLETELY reversed the pre-opening breakout, we exit the trade. It’s simple as that, no further explanation is needed.
Education
by Tradingstrategyguides