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BOS

XAU/USD: Preparing for a Buy on 15-Minute Chart Overview: After observing a consolidation period on the 15-minute chart, XAU/USD is showing promising signs of a bullish breakout. The chart attached highlights a critical break of structure (BOS) along with a forecasted path that suggests a possible uptrend continuation. The recent price action has breached previous short-term lows, indicating a potential shift in market sentiment from bearish to bullish. This break of structure could be an early signal of smart money positioning before a significant upward movement. A marked red arrow points to a key structural break, suggesting a potential entry point for a long position. The idea is to initiate a buy once we see a clear break above this resistance, confirmed by increased volume and bullish candle closure. The purple line indicates a potential upward trajectory for the price following the breakout. The forecast is based on historical price patterns and expected market psychology post-breakout. Entry: Buy after a confirmed breakout above the current OB with a solid bullish candlestick. Stop Loss: Just below the most recent low prior to the breakout to mini exposure. Take Profit: Initial target set at the recent high, with a possibility to extend gains if the upward momentum continues. This setup provides a compelling opportunity for traders looking to capitalise on a breakout strategy in gold. As always, ensure to manage risk appropriately and adjust your trading plan based on real-time market conditions.
OANDA:XAUUSD
by Saurabh_R_Bhosale
SIMPLE ICT CONCEPTS FOR TRAADING SYNTHETIC INDICES The Inner Circle Trader (ICT) concept for trading Deriv synthetic indices involves using sophisticated market analysis techniques and proprietary trading strategies. It focuses on understanding market mechanics, price action, and order flow to make informed trading decisions. ICT strategies leverage advanced tools and ICT knowledge to predict synthetic market movements, optimizing entry and exit points for higher profitability and risk management.
Education
by FrankFx14
Trading GBPUSD | Judas Swing Strategy 13/05/2024 At 8:25 AM EST, we got to our trading desk and started the day doing the basics on our Judas Swing strategy checklist which includes: - Making sure the timezone is set to New York time - Making sure we're on the 5 min timeframe - Marking the trading period from 00:00 - 08:30 - Marking the high and low of the zone Next, we patiently awaited price action to take the liquidity positioned on either side of the trading zone, providing us with a directional bias for the trading period. In this instance, liquidity was taken at the highs after 10 minutes, signaling our focus would be on identifying potential selling opportunities. To avoid getting trapped, we waited for price to create a Break of Structure (BOS) to the opposite side (sell side) to indicate selling. Subsequently, our focus shifted to identifying the initial Fair Value Gap within the displacement leg that broke structure. Next, we waited for price to retrace, filling or touching the created Fair Value Gap (FVG), and only executed our trade once the candle that touched or entered the FVG had closed. In this case, the subsequent candle that formed was a bullish one, closing within the Fair Value Gap. Our stop loss is set above the high that formed the Break of Structure (BoS) leg, with a minimum requirement of 10 pips. In this instance, placing the stop loss above the high would result in only 7 pips, necessitating an increase to meet the 10-pip minimum. This rule was established not by chance, but through extensive backtesting of numerous trades, demonstrating how it prevents us from being stopped out before price moves in our favor. After executing our trade, we experienced a significant drawdown that nearly reached our stop-loss level, only for the price to eventually reverse in our favor. Had we set a 7 pip stop, we would have been stopped out; however, our rule of a minimum 10 pip stop saved us from that outcome. Although the price reversed again and entered a drawdown, we remained unfazed by this reversal due to our cautious risk management strategy. We had committed just 1% of our capital to this trade, with the prospect of a 2% return. We maintained confidence in our strategy, given its extensive backtesting, which has demonstrated a win rate of 52% on GBPUSD trades. The GBPUSD pair then consolidated around our entry point, prolonging our involvement in this trade. However, based on our collected data, we anticipated an average position duration of 6 hours and 35 minutes, which could extend to 2x-3x longer for the trade. Patience is crucial in trading, as it often places you in challenging situations We patiently waited, and our persistence paid off when our target was finally reached, securing a 2% gain on the trade where we had risked 1%
by CleoFinance
Trading EURUSD | Judas Swing Strategy 24/04/2024At 8:45 AM EST EURUSD made a big move down that took out the Judas Swing Zone Low. Then it came straight back up to create a BOS(break of structure). After the liquidity grab at the low and the subsequent break of structure (BOS), we patiently awaited a retracement towards the initial Fair Value Gap (FVG) that emerged during the displacement leg. We then waited for price to retrace, filling or touching the created Fair Value Gap (FVG), and only executed our trade once the candle that touched or entered the FVG had closed. After executing the trade, price initially moved favourably in our direction. However, it later took a turn towards our stop loss. Despite this, we maintained confidence in our strategy, given its extensive backtesting, which has demonstrated a win rate of 52.78% on EURUSD. Despite being in a drawdown at this point, we remained steadfast in our approach. Having accepted the calculated risk of only 1% of our account for a potential 2% gain, we were unfazed by the proximity of price to our stop loss, and maintained our trust in the strategy. Price eventually reversed and paused briefly around our entry point before resuming its favourable movement. We remained unperturbed by the duration of the trade, as our strategy data indicates an average trade duration of 8 hours and 27 minutes. We patiently waited, and our persistence paid off when our target was finally reached, securing a 2% gain on the trade where we had risked 1%
by CleoFinance
BTC daily baisBTC UPDATE: At this point we really need a lot of patience in the market before we can say we want to bag spot…. There is a potential that BTC will first pump to 68.9k before dumping to buy wall zone on daily bullish OB below at 51.6k…. My little advice is don’t rush into market at this point and wait for a better correction in market. My view is we will start seen retracement in market to the daily bearish OB above before halving and the final correction will take place after halving to take down the liquidity below…. Don’t be in an haste at this point Follow for more market update and trade setup
by MICHELXM