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Orderblocks

GBP/USD Bullish Breaker Block Trade AnalysisIn my last publication I discussed the bearish breaker block so I thought it only appropriate to follow up with an analysis of a trade taken using the bullish breaker block. This is a similar setup to the one I last discussed on EUR/USD, except that it was bullish and on the lower 15m timeframe. Do not be fooled however, this trade was taken with a higher timeframe level in mind. This level was the equilibrium of the 1W bullish order block shown in the chart image below. These higher timeframe levels are very reliable since institutions trade off of them. Furthermore, given that GBP/USD has been in a longterm downtrend, I am only interested in taking bullish setups which form at higher timeframe levels i.e levels on the 1M, 1W and the 1D. On April 13th the market runs below the low of April 8th and then quickly returns above the low, back into the range (the stop hunt), but why does this price action occur? In and around this April 8th low lies sell side liquidity in the form of market orders to sell GBP/USD whenever price gets in and around this level. Breakout traders who would have sold the pair once the April 8th low was broken in hope of a breakout and traders who would be taking profits after shorting the pair at higher prices all have market sell orders at this level. Banks need all of this liquidity in order to pair with their huge buy orders, hence why the market "sweeps" the liquidity below the April 8th low and then turns bullish. Once price runs the low and returns into the range we look for the bullish candle which initiated the stop hunt below the low, this is the green candle before the bearish momentum, as seen on the chart. This is our ICT bullish breaker and it is represented by the blue rectangle in the chart. To trade it we wait until price breaks convincingly above its high, personally I wait for a break in market structure (BMS), and then entry is made on a retest of the breaker block's open. Note that the high of the breaker can also be used, however, using the open price allows for a smaller stop loss. Since this breaker was so small I used its high as my entry and my stop loss was placed below the low of the 15m order block. My stop loss was placed here because price should not violate this level if banks are seeking higher prices, if this level is violated then all interest in longs are lost and I accept my loss and remain on the sidelines. Additionally, I didn't place my stop loss directly below the low of the bullish breaker because this is a smaller timeframe and the stop loss would have been too small for my liking. Personally, I like to give my trades the necessary room to breathe, allowing for some movement against my entry. My target was the first buy side liquidity (bsl) area where banks will take profit by selling their longs. I have also outlined a 2nd buy side liquidity area which can be seen clearer on the chart if you scroll to the left. This post in combination with my previous one provides a complete guide on trading ICT breaker blocks. Thanks for reading and may the markets be with you.
Long
by CorpusFX
ETH/USDT : Breaking above the trendline!BINANCE:ETHUSDT Hello everyone 😃 Before we start to discuss, I'll be so glad if you share your opinion on this post's comment section and hit the like button if you enjoyed it! $ETH is breaking above the trendline and it would give us the opportunity to take Long on the higher resistance zone. Not Quite an enjoyable Long opportunity, But Based on PA; If we the Closings above the mentioned resistance zone ( Order-Block on 45Min TF ). Then we can locate our Long on a proper retest of the broken zone! Be cautious that we need at least three candles close above the resistance zone... In other term, It'll deviate from the break-out and fall below the broken trendline. Hope you enjoyed the content I created, You can support us with your likes and comments! Attention: this isn't financial advice we are just trying to help people with their vision. Have a good day! @Helical_Trades
Long
by Helical_Trades
27
GBPUSD - Join The Sellers ⬇️Good morning traders, welcome to a new trading week! Today is a Bank Holiday in the UK so I will not be trading the London session due to a lack of liquidity and higher spreads. However, I have marked out exactly what I would like to see in the NY session with the assistance of the PMI data release at 15:00 GMT +1. If we can locate sells at the main supply, we could ride the wave down as shown in the monthly cycle post above. Friday was a weak buying day for GBPUSD, I interpret this as sellers not taking profits and still holding on to their swing sells which in could result in more downside to begin the week. From a psychological standpoint, Monday tends to be the day where losing traders from last week jump in and try again because they have had the weekend to forget their poor decisions. For this reason, I will only be looking for sells today, avoid the herd mentality and trade into their stop losses. Updates to follow shortly ⬇️
Short
by AlkalineFX
21