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Choch

Gold. Its OB, And more importantly where its CHoCH? 9/Sept/22Gold. As a “contribution” to tradingview ( many thanks to tradingview for providing such a good free charting platform) community ( Today I’m going to share my own interpretation of OB ( order blocks), and most importantly where is the “exact “ location/pivot/level of CHoCH ( change of character)?. A concept with BOS ( break of structure) which has been used by advanced naked/ Price action trading traders without any indicators. . It will cut “novice traders” learning curve from 3-5 years even 10 years where they are searching for “holy grail “ trading system/indicators..The biggest question for this concept of trading will be “where” is the exact location of CHoCH? ( change of character = change of “previous underlying trend” )..The “ANSWER” is! = at subwave b of any last leg of impulsive wave which is wave 5. < p/s unlike conventional Elliottwave rule there is ONLY abc subwaves “inside” any impulsive wave..> Last but least many thanks to @makuchaku and @Efe for coding the such a great “super OrderBlock..” script/ indicator which help us/traders to “visualize “ where is OB, FVG Although we still need to find where is “CHoCH” “manually”..
FX:XAUUSDLong
by SteveTan
1
NZD/CAD: Bullish Reversal runningNZD/CAD: Bullish Reversal running > breakout of bearish trendchannel > Higher-high-higher-low sequence established > weekly high broken to the upside > 200er MA in H4 protecting downside > next downward trendline fard away > POC volume below current levels The setup can potentially pull back a little before advancing. As we are Wall Street Swing Traders, our Stop Losses are far (see SL zone) to give our trades room to breath. This way, we are achieving an unusually high success rate. I have included the past entries with the WSI H/L Wall Street system in the chart, as usual. Feel free to reach out with any questions or comments. Meikel & Your Team WSI PS : Join our stream tomorrow! The link will follow shortly in the comments.... See you there!
Long
by WallStreetIntelligence
1
CHOCH vs BOS ‼️WHAT IS BOS ? BOS - break of strucuture. I will use market structure bullish or bearish to understand if the institutions are buying or selling a financial asset. To spot a bullish / bearish market structure we should see a higher highs and higher lows and viceversa, to spot the continuation of the bullish market structure we should see bullish price action above the last old high in the structure this is the BOS. BOS for me is a confirmation that price will go higher after the retracement and we are still in a bullish move WHAT IS CHOCH? CHOCH - change of character. Also known as reversal, when the price fails to make a new higher high or lower low, then the price broke the structure and continue in other direction.
OANDA:XAUUSDEducation
by Snick3rSD
2
GBP/AUD: Long Reversal runningGBP/AUD: Long Reversal running > Higher High and higher low printed > Break out of the triangle formation > POC below current price > Last weekly high far away Structurally, this is a long based on the rules of our Wall Street H/L System. It is, however, a little risky ahead of the FED tonight. Why? Because the decision + press conferent COULD lead to direction-changing moves. If you do not mind economic data risk, you can enter. Also check out my stream on the FED + Swingsetups: www.tradingview.com Meikel & Team WSI
Short
by WallStreetIntelligence
30
GBP/CHF: Long Reversal running & FED commentGBP/CHF: Long Reversal running > Higher high and higher low printes > inner trendline break > quadruple bottom > POC below current price We are seeing broad GBP-strength, also visible in GBP/CAD, GBP/AUD, GBP/JPY and GBP/NZD. GBP/CHF checks all the criteria for a long entry according to our H/L Wall Street System. Post Fed Meeting The dust has settled since the FEDs epxted 75bps interest rate hike. During the press conference Powell communicated what we call a "dovish hike". The FED did hike interest rates, but the forward guidance is not as strongly hawkish as in the past anymore. Now, the FED ist data-dpendent, which is a softer stance on rate hikes. The consequence is a risk-on reaction in the markets: Stocks are rising, USD and JPY is weakening and Crypto is rallying. Please always remember: Trading is a game of probabilities. This means that a single trade is not important. A system plays out over a large number of trades (i.e. 100-200 trades). Every trade should be taken with a risk as a % of your capital. Risk management is absolut key. A win rate of 70% means: Out of 100 trades, you will have 70 wins and 30 SLs. Do not risk your account on the 30 SLs. Best Meikel & Team WSI
Long
by WallStreetIntelligence
2