GBPUSD SELL TRADE ( MARCH 28 2024) -Pending order mt4DAILY TF was forming distribution (although not yet complete) , but I can see the orderflow because of the market structure. I go to 4h --3h--2h--1h TF and noticed some short intra day trade that became swing trade as it moves)
You can see in the chart that there was a supply (DBD formation) -march 22 friday. --> It was then validated by the market structure march 26 2024 (HH then CHOCH). I set pending order march 28 in my mt4 (morning), aiming for 1:8 RR.
The trade was activated last thursday -evening and ran until weekend (of course there was a charge in my broker running trade on weekends hehe. )
TP HIT DURING N.Y and London overlap. Bearish movement.
(A simple wyckoff distribution)
Supplydistribution
USD CAD December 12 2023 pending order activatedAs you can see, USDCAD react from above supply and then manipulating highs in 1h- 30min-15min TF. (1.38770 supply) .
If you check the 1H TF , you will see a footprint of smartmoney making LH (this is the part where Im taking my pending sell order) mt5 platform. check chart for a detailed move aiming for another lower low in 4h and daily TF.
Today my trade was activated and i ride this sell position. aiming for 1:5RR
Distribution schematics ( Wyckoff)
CAD/JPY Trade ReviewCADJPY Trade Review
I posted this Trade Analysis here on Wednesday. This trade was awesome. Price went up above the Weekly Supply and reached the top of the Liquidity Zone as i predicted in my previous post. The Banks and the big Institutions cleared the previous highs and the stop loss of retail traders who were in shorts (sells). Everyone believed the market was Bullish and started buying. Market Manipulation. Lol
The price crossed the 80 mark and many breakout traders entered the market, Buy stops were triggered. Then the real move happened. The price hit 80.10 resistance. The Market then reversed and did a huge drop just as i predicted. A lot of buyers were trapped. the stop loss of many buyers were hit.
I was not trapped because i understand Market Manipulation and I follow Market Struture. Sold the pair at the top of the liquidity zone. 100 pips and more in Profit. All Supply and Demand Traders know that every gap/void must be filled. The market filled the Gap in the Liquidity zone and went to target the stop loss of traders above the Weekly Supply Zone.
Now that they cleared the stop loss of the retail traders (both sellers and buyers), the Banks and Institutions used all the liquidity to do the real move down (Sell). Lol
Happy Weekend!!