Please stop getting your hopes up! Nothing is bullish in my eyesHello.
I'm somewhat fed up of seeing people showing "golden-crosses", "rsi's matching with historical data" etc etc.
Not until we take out the DAILY LOWER HIGH (Daily LH) am I bullish.
We even kissed and got a rejection perfectly of the daily order block.
It's simple market structure guys/gals.
Dumb money is getting sucked up and we are going to be shooting down to fill this big juicy imbalance that has been left.
Stay patient and wait!
We are still in a down trend!
SMC-ICT
GbpJpy - Manipulation Point Trading Bias: Long
Market Cycle: 2
Yesterdays analysis has proven to be correct even if we didn't get a pullback and entry...
I'm looking for a pullback and entry from either 159.90 or 159.53 both KL's in terms of round number trading and valid manipulation points in our trading system.
EURUSD Potential Forecast | Tuesday 7th February 2023Hi Everyone, my name is Chern Yu and I utilise smart money concepts.
Trade Idea
1. Looking for an intraday short position into EURUSD to test the lows
2. Lower highs and lower lows has been forming
3. Anticipating a new lower low to potentially form
4. Bearish trend is confirmed
5. Bearish continuations is anticipated
6. Price already broken structure to the downside
Hence, I will be taking a short entry onto the EURUSD to test the lows at 1.0697.
Trade safe guys!
Regards,
Chern Yu
EURUSD Potential Forecast | Wednesday 1st February 2023Trade Idea
1. Currently on EURUSD, there is a lot of sell side liquidity present as I have marked out via the blue zone
2. Price just broke the weekly low and created a lower low
3. Price is in a bearish trend forming lower lows and lower highs
4. I believe price can potentially come down to clear the sell side liquidity
5. Especially this week with FOMC and NFP coming, there will be a lot of whipsaws and volatility in the market
6. Will be especially risk averse and wait for full confluences before entering onto trades
THIS TRADE WILL BE INVALID AFTER TODAY IN LIGHT OF THE HEAVY NEWS.
Trade safe guys!
Regards,
Chern Yu
Nasdaq. Bullish run or Bearish run?As you can see from the structure, I am seeing a rejection candle on 4h supply zone.
There is also a Equal Low liquidity that has not been taken out yet.
On LTF at 1m, I saw bearish quasimodo pattern.
My bias is last weeks bull run was just a manipulation of the market and as the BSL is taken, I am expecting it to clear the liquidity below EQ Low at Demand zone.
What are your thoughts?
EURUSD Potential Forecast | Friday 27th January 2023Hi everyone, today I will be talking about a possible EURUSD short trade using Smart Money Concepts.
Trade idea
1. Price has swept buy side liquidity above on the weekly
2. Price then had a strong bearish reaction which broke sub-structure
3. Price is currently on a retracement
4. Lower blue zone has been marked out as a potential point of interest to look for short set ups
5. Will wait for confirmations such as a break of structure and sweep of liquidity on LTF
Things to take note of:
1. There is fundamental news PCE price release tonight at 930 pm SGT. Do trade safely for those taking the same trade.
Trade safe guys!
Regards,
Chern Yu
DXY Forecast ahead of Core PCE Price Index ReleaseHello guys,
Currently DXY is resting on a strong support area at 101.773.
Just a quick recap.
We had the advanced GDP news release which saw a 2.1% growth in 2022 despite challenges like recession fears and high prices. The job market remained strong and people were optimistic about the future.
If the Core PCE Price Index m/m data release yields are better than expected, price can possibly break the descending trend line before heading towards the overlap resistance at 102.821.
Alternatively, if the yields are below expectations, expect DXY to head towards the previous weekly swing low at 101.297.
Stay safe trading guys! :)
Regards,
Chen Yongjin
EURUSD Potential Forecast | Thursday 26th January 2023Hi everyone, today I will be talking about a possible EURUSD long trade using Smart Money Concepts.
Trade idea
1. Price has broken structure to the upside on the larger timeframe
2. I believe price is still bullish
3. Price is currently in a retracement
4. have marked out the blue zone as an area that price could potentially tap into where I will be looking to enter
5. Will be awaiting confirmations at those levels
Regards,
Chern Yu
Thank you and do give me boost!
ADAUSDT Pitchfork, .618 Resistance, Bearish MS, Price Action Evening Traders,
Today’s analysis – ADAUSDT – trading in a constructive downtrend with another potential lower high intact,
Points to consider,
- Price Action Corrective
- .618 Resistance
- Pitchfork .618 Resistance
- VAH Confluence
ADAUSDT’s immediate price action is corrective and is has rejected from a key level, allowing for a bearish bias.
The level has confluence with the .618 Fibonacci of the Pitch fork and the Fib Retracement ratios, this adds more sifnigicane.
The immediate objective is the lower end of the pitch fork, this will continue the overall bearish market structure.
Overall, in my opinion, ADAUSDT is a valid short with defined risk, price action is to be used upon discretion/ management.
Hope this analysis helps,
Thank you for following my work
And remember,
Trading is mostly a waiting game. if you want action that happens on your own terms, you’re in the wrong field.