Bullish market structure on daily - series of recent higher lows and higher highs
Last week's high has been marked out
Wait for price to breach the last daily high. This will therefore be a higher high and continuation of the bull trend.
Wait for a retest of the last daily high and then long into the weekly level.
Bullish market structure on high time frame (eg 1D)
Bullish orderblock identified which broke a previous swing high
Wait for retest then long to last high candle close (with potential to continue running trade and trailing stop loss thereafter)
Please see chart - bearish market structure, daily low formed, bearish order block identified - wait for restest of said OB then short to daily low. Stop loss above nearest swing high to give the trade room to breathe, although it could be made smaller by setting just above the OB.
Marked in blue is a 2 Day Bullish Orderblock marked in December 2020.
On the 1H chart, price broke below the OB but seems to have reclaimed it. IF price can close above the local high which I have marked, I would long up to the marked weekly level. Stop loss just below the order block. General sentiment is still extremely bearish so this trade is countertrend so...
The weekly close is imminent and it looks like a strong engulfish bearish candle. General bearish market structure therefore I favour short ideas in order to trade with the macro trend.
On the 1H, I have identified what looks like a bearish orderblock which is also confluent with higher time frame level. My idea is simply to short from the current level down to...
Price previously respected the previous weekly low, (PWL), where marked by the tick. Price has now gone through the PWL, retested it and rejected. Therefore shorting to an area of liquidty (long wick on chart). Assuming price reaches there, we can then assess whether we want to continue the short down to the monthly level indicated below the marked take profit point.
Please see chart - 4 hour bullish order block identified. Wait for retest and then long. This is a slightly risky trade given the general bearish market but a number of higher highs and higher lows have formed and this trade has good risk to reward.
Please see chart - I see a 4H bullish orderblock which should be fairly strong as it is confluent with the Weekly Open level and led to market structure breaks (MSBs) of both the local and macro highs, as marked out in the chart. I would wait for a retest into the order block area and then after drilling into a lower timeframe eg 5 min, after seeing a higher high...
Please see chart comments - clear bearish weekly market structure so favour short ideas. Week is closing on an inverted hammer candle, which acts as a continuation 70% of the time. TP - swing low, SL - swing high. This trade does not have very good R:R, however. We seem to be in a range at price at the moment is close to midway so admittedly not the best time to...
A long entry based on a 1H bullish order block. I marked out the bullish 1H order block and when price returned near it, I drilled into the 5M chart. Price was ranging but then formed an impulse higher high. I identified the bullish 5M order block from which this move originated. I waited for a retest and entered when price hit the top range of the 5M...
