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Smartmoneyconcepts

GBP/CAD LongContext: • Prev. month close above consolidation, this month broke prev. month high • Weekly: Bullish FVGs, prev. week had negative close, this week broke the prev. weeks high significantly • Daily: In bullish swing, left consolidation with close abote montly high and consolidation range. Yet showed a rejection (long wick) Idea: • Direction: Long • Entry area: 1.7452 - 1.7527 (between montly high and low of the 1h-Demand zone showed in blue) Trigger: • I do not suggest a LMT on the upper entry area • Rather look for 30min-1h Reversal setup in mentioned entry area • After reaching entry area one wants to see fast upward movement and a close abote prev. month high / prev. day low lines Stop: • Below your entry setup Caution when: • Entry area is approached with momentum, i.e. strong 1h-4h FVGs. → Slow approach of area preferred Scenario broken when: • Prev. day high is taken out: New context with potentially higher yet to build entry level • Confirmed 4h close below prev. day low Be aware of the CAD News today: BoC Interest Rate Decision. Market could become very volatile
Long
by MichaelBw
BTCUSD Long: To the moon?Context: Currently trading above previous high from Nov. 2021 with bullish FVGs on monthly chart - but we are now in a consolidation, but with upwards tendency. Same for the weekly chart - we just took out the previous week high. Idea: • Entry between prev. week high and prev. day high after 4h close above bearish FVG. • Entry in mentioned area preffered with a lower timeframe setup like a reversal candle on 30min. • Approach of the entry should be without FVGs on 30min. Otherwise wait for bearish 30min FVG to be closed. Stop: Below your 30min entry setup → 1st TP: Around ATH / 73500 → 2nd TP: trailing stop: "sky is the limit" When does this scenario become invalidated? If the current 4h candle becomes a confirmed reversal candle. Then we could rally lower to at least 69000.
BITSTAMP:BTCUSDLong
by MichaelBw
GBP/AUD LongMontly Chart neutral. Weekly shows an inverted FVG and we respected the last bullish FVG. Same for the daily chart. We trade above the previous day high. IF the current 2h candle closes without potentially triggering my proposed entry level AND stays an inside candle as of now, this could be a long for me. Entry around 1.9184. Stop around 1.9167. First TP around current day high at 1.9210. Second TP around 1.9245. Be aware: The shown CRV of the first entry is only about 1.6. So try to get an entry on a lower timeframe like 15min to reduce your stop and maximise the CRV
Long
by MichaelBw