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$GBPUSD - Price at Bullish Breaker - Continue Bullish Momentum?*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. 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 move toward Liquidity and Balance. That's the basics. The rest is very unique in the vocabulary you need to have and the concepts that wrap around these ideas. Currently on the daily chart the price has risen above a breaker. The Breaker would be the Low High Lower Low Formation seen here: And it has come down and touched that breaker region. The breaker would be the last up candle in the low high lower low formation. Which is in the main boxes on the main idea above. I once price touches the breaker it ususually means that there was a missed opportunity for "Smart Money" to remove a short position at that area so they bring the price back down to remove the short positions and give you a "Fake out as if they are going lower. My stop loss was to take take the highest 4 hour ATR (408) or 40.8 pips and place that below the body of the breaker. I added a few pips just in cases it tried a quick stab stop hunt. As it approaches the 1.35500, 1.36000, or even the 1.36500 mark price has a t endency to sweep those areas 10-40 pips before pulling back. Being that the next daily bearish order block ius neath e 1.36000 I would expect it to sweep at least half of the bearish order block which is approximately 40+ pips on this chart. Open: 1.34975 SL: 1.34545 Max TP: 1.36470 More than a 3:1 ratio with almost 150 pips to gain if my analysis is correct. This is a swing trade and we're hoping to find the bottom of that swing right now. FX:GBPUSD OANDA:GBPUSD FOREXCOM:GBPUSD GLOBALPRIME:GBPUSD EASYMARKETS:GBPUSD KRAKEN:GBPUSD FX_IDC:GBPUSD PEPPERSTONE:GBPUSD FTX:GBPUSD EIGHTCAP:GBPUSD CURRENCYCOM:GBPUSD
Long
by BodiesXWix
2
ICT OTE EUR USD - BACKTESTING when you are back testing, Make sure you are actually seeing what you are doing, its so important to look for things that you aren't necessarily trying to see, For example, I spend way more time studying my losses during a back test so that I can try to identify something that may have saved me from pulling the trigger. but in this instance, Something I have never really spotted before with the OTE set up, Look at that correlation between price movement and divergence on the volume. Volume tells the story here, Price pushing hard to our level, Then volume strikes out, Unfortunately I cannot provide a lower time frame image, But feel free to look at NY session 10 NOV 21 and see it yourself.
Short
by hunterprotocolFX
11
$GBPUSD: Upside to 1.3875...The Pound has triggered a bottom signal, in both the daily and weekly timeframe, right after seeing the 1st rate hike across developed nations since the Pandemic started. Weekly charts point to a rally towards 1.3875 within the next 11 weeks, and the daily chart has a buy signal right here. I'm long with a stop below 1.31625, aiming to capture the weekly move here, if possible. Don't risk over 1% in the position, I'd say. Calculate the sizing carefully. Risk management is key to stay in the game until we strike gold with a good trade. Cheers, Ivan Labrie.
Long
by IvanLabrie