DOW JONES TRADE IDEAUS30 was bullish through out last week, we also had NFP news last week which was also bullish. We should expect strong retracement to the downside.
Newyorksession
What is ICT Power of 3?Power of 3 at work on Gold producing a 8.6RR move on 30/06/2023
FOREXCOM:XAUUSD
Ict power of 3 is a strategy that reveal the market maker algorithm model for price delivery.
Power of 3 simply means there are 3 things market makers algorithm do with price in ever trading days.
Those 3 things are; Accumulation, Manipulation and Distribution.
AMD:
A: Accumulation
M: Manipulation
D: Distribution
1. Accumulation: They accumulate liquidity through the delivery of a ranging market.
The purpose for delivering a ranging market is to induce both buyers and sellers to enter the market thinking that price will go in their direction.
2. Manipulation: After accumulating both buying and sell orders, they then manipulate the market to further induce another set of traders which are breakout traders.
But, that particular manipulation move is not their intended direction for the day. They only use it to gather liquidity, Which will then lead them to the next action which is to move and distribute price in their real direction for the day.
3. Distribution: After manipulating price to a particular direction different from their plan, they then distribute price to their original intended direction.
e.g to buy, they will first sell the market and then buy at the discount price level.
Example of Power of 3 on Gold
AMD:
A: Accumulation
M: Manipulation
D: Distribution
Accumulation : Price range during Asian session, accumulating liquidity on both sides of long and shorts.
Manipulation : Price broke the low of the accumulation during London session to take out sell side liquidity and then fill the previous day imbalance.
Distribution : Price move away from the FVG leading to a shift in market structure on 5m time frame, plus a short pull back, follow by a massive move to the upside during the New York session to take out buy side liquidity above.
DOW JONES TRADE IDEA US30 close yesterday with over 1% bullish candles. we should expect strong retracement to the downside before the open of the New York session at 15:30.
NASDAQ 100 TRADE IDEANasdaq 100 is forming a bullish trend with a W shape pattern after closing slightly higher at the close of yesterday's trading session. We should see more bullish movements after a retest to the downside.
DOW JONES TRADE IDEADow Jones close yesterday's New York session with less than -1%. We have the FOMC statement today. Dow jones is forming a bearish trend, we should expect more bearish move at the open of New York session and FOMC statement.
DOW JONES TRADE IDEADOW JONES ended yesterday's trading session higher with more than 1.5%. At the open of New York session Dow Jones should continue bullish after retracement.
eurgbp bias outcomethis is just a follow up post on this initially called EG set up. Price decided to respect the zone, I've placed my breakeven appropriately . initial setup attached.
audusd long biasprice seems to have respected a key demand zone , buyers may take over the market to the upside .
gbpjpy short biasi can see price pumping up to meet the nearest significant supply zone, be the bears can dominate the market.
AUDUSD BULLISH BIASAUD has been oversold in the past three weeks. i was able to ride the downtrend . bulls are now slowly taking dominance
cadjpy potential swing biasprice may retest the supply zone highlighted before letting the bears to take control of the direction
NAS Long - NY - Win
- PA was rangey during Asia and LDN
---- PO3 Accumulation
---- 31 pips (handles??)
- PA swept 62F lows @ 9:30-9:45am
---- PO3 Manipulation
---- Liq Raid to kick off move
---- 100 pips
- Reversal @ 10:39am
---- 1 X FVG on 5m
---- 42 pip jump and BOS
---- this is significant for NAS
- Target
---- PO3 Distribution
---- PDH
---- 193 pips
Entry
- I entered early because of SMT on SPX
---- Never waited for the OTE to form
- NAS took longer to move
---- Almost 40mins
---- Also had better OTE eventually
- SPX would have been a FVG entry
---- I don't like those because of bigger SL's
Result: Win
- 5RR
- Textbook setup
Psychology
- Was a bit nervous
- Especially when SPX moves early and NAS sat still
- Good idea was to reduce my risk especially since I was in DD
- So I was happy to take the loss
- Moving to BE and closing my laptop also helped
Bitcoin Day Trader's Money ZoneThis post contains a great tip for all bitcoin traders. I use it every day for my bitcoin trades.
On the chart you see two green vertical lines. These are drawn from 8:30 AM EST to 11:30 AM EST everyday New York Time.
I call the time between these lines Money Zone, which is where Whales/Institutions/MMs/Whatever set up their day trades.
The yellow Horizontal line is high/low made withing the zone and the yellow vertical line is the end of session.
The red vertical lines are for Saturday where this is not applicable, even Sunday is not applicable since these are weekends and big money don't trade on these days. But for a fair number of Sunday's, this idea holds true in my back testing.
What you should notice is, the high/low made during the money Zone is never breached till the end of the session marked by the yellow vertical line.
I have back tested and marked all the money zones for the past 2+ weeks, but you may not be able to see them all in the post, so I am sharing a live link of my chart below.
www.tradingview.com
What you must do is use your regular TA to determine levels of interest, create setups in advance and wait for the money zone.
Now by this time you should already have a bias to where the price is likely to go next and wait for a counter move/manipulation in the opposite direction and comfortably take the trade and relax for the rest of the day or at least till the end of the session.
This is applicable for other sessions like ASIA or London as well, but I have personally found this to be more accurate for the New York Session.
This is not Financial Advice.
XAUUSD / GOLD potential directionGold overbought throughout the week at the same pace that the dollar index had been oversold. Next week if gold respects the current supply zone. I will maintain a bearish bias for the week. during that week's market open, price is likely to retest the key supply zone multiple times, I'll be looking out for price to respect the zone or breakout. patience will be highly required.
ICT Power of 3 Strategy on GoldPower of 3 at work on Gold producing a 8.6RR move on 30/06/2023
FOREXCOM:XAUUSD
AMD:
A: Accumulation
M: Manipulation
D: Distribution
Accumulation : Price range during Asian session, accumulating liquidity on both sides of long and shorts.
Manipulation : Price broke the low of the accumulation during London session to take out sell side liquidity and then fill the previous day imbalance.
Distribution : Price move away from the FVG leading to a shift in market structure on 5m time frame, plus a short pull back, follow by a massive move to the upside during the New York session to take out buy side liquidity above.
Gold BuyI'm currently in a gold buy.
Reasons:
-We're at a point of what looks to be a strong demand zone on on all time frames leading up to daily. (Accidentally wrote supply zone instead of demand on chart. excuse the typo)
-The last 2 closing candles had large wicks on 4hr timeframe (bullish engulfing).
-We're getting higher highs and higher lows on smaller time frame.
-5 minute resistance level has been broken.
-1 hour candle has closed extremely bullish.
- The ride to 1957 should go smoothly follwed by a pullback.
-My guess is that Tp will be hit tomorrow or Friday the latest
Russell 2000 showing strong upside after W breakout to 1,973W Formation formed on Russell 2000.
I missed the boat on this one. There are just so many markets so little time to focus on.
It had the perfect buy setup with all the criteria.
Anyways, those that got in, there is more upside to come.
7>21
Price>200
RSI>50
Target 1,973
ABOUT THE RUSSELL 2000
The Russell 2000 is a stock market index that measures the performance of approximately 2,000 small-cap stocks in the United States.
It was created by the Frank Russell Company in 1984 and is maintained by FTSE Russell, a subsidiary of the London Stock Exchange Group.
The Russell 2000 is widely considered a benchmark for small-cap stocks and is used by investors to gauge the overall health and performance of the broader small-cap segment of the U.S. stock market.
The Russell 2000 has a diverse range of constituents, covering various sectors such as technology, healthcare, finance, consumer goods, and industrials.
The Russell 2000 is often used as a benchmark for mutual funds and exchange-traded funds (ETFs) that focus on small-cap stocks.
CRITERIA TO GET INTO RUSSELL 2000
To be eligible for inclusion in the Russell 2000 index, stocks need to meet certain criteria set by FTSE Russell.
Market Capitalization:
The primary requirement is that a company must have a market capitalization within the defined range for small-cap stocks.
I'm not sure what this is set to at the moment. But I imagine it's smaller than the large cap stocks :P Somewhere around within the range of a few hundred million dollars to a couple of billion dollars. This is out of my knowledge point as I'm a South African :)
FTSE Russell determines the specific range annually during the reconstitution process.
U.S. Listing:
Stocks considered for inclusion in the Russell 2000 must be listed on a U.S. exchange, such as the New York Stock Exchange (NYSE) or NASDAQ.
Share Price:
Stocks need to meet a minimum share price requirement to be eligible for the Russell 2000.
The specific threshold is determined by FTSE Russell.
Also not sure but I believe it's typically in the range of a few dollars to tens of dollars (can we say that?).
If you know more information please let me know as I'm a South African and not really sure about criteria with US stock exchanges and markets. Sorry. Regardless, it looks like it's going to continue up!
USDJPY opportunity!Trade Description for USDJPY:
1. **Title**: USDJPY Long Trade Opportunity
2. **Symbol and Timeframe**: USDJPY, 15 min timeframe
3. **Overview**: The USDJPY pair has recently experienced a 50% retracement in the 2-hour, 4-hour and 15 min timeframe, indicating a potential buying opportunity.
4. **Chart Analysis**: On the 2-hour, 4-hour and 15 min charts, the price has retraced to the 50% Fibonacci level, suggesting a potential reversal and resumption of the uptrend.
5. **Entry**: Consider entering a long position on USDJPY at the current price, as it has completed a 50% retracement and shows signs of upward momentum.
6. **Stop Loss**: Set the stop loss at the latest low, as a break below that level would invalidate the trade idea and suggest further downward movement.
7. **Take Profit**: Aim for a target level based on your preferred risk-reward ratio and the recent swing high. Monitor the price action for signs of resistance that may indicate a potential exit point.
8. **Risk-Reward Ratio**: Calculate and assess the risk-reward ratio based on the distance between the entry point and the stop loss, as well as the potential profit target. Adjust your position size accordingly to ensure a favourable risk-reward ratio.
9. **Additional Notes**: Keep an eye on any upcoming news or events that may impact the USDJPY pair. Monitor the price action on the 4-hour timeframe as well, as it has shown multiple stop-loss hits during the downtrend.
**Disclaimer**: This trade analysis is for educational and informational purposes only. It does not constitute financial advice. Remember to conduct your own analysis and make independent trading decisions.
GBPUSD Long now to short laterThe GBPUSD picture shows a downward bias, but we need to complete the ongoing upward trend first. A bullish wavestructure has been observed, but it is not yet finished.
Based on the wave count, we anticipate a Higher High above the current day's high before considering a strong short position.
For a long continuation trade, a good entry point would be around the 2DH (1.2395), which is the closest buy point. The stop loss level can be set at 1DH (1.2372), which also coincides nicely with the 0.618% retracement level from the high to the low.
Enjoy the trading!
