We are in a strong demand area and we are also right at a strong area for the volume profile on the daily TF (red dashed lines) Those are two very strong confluences to take this set up. The candles are also starting to sheink giving us more confluence for a long set up. Here I am taking a 1:6 R:R
I have back tested 1000s of hours and have found a unique ChoCh type strategy. We will see how it plays out here with a 1:5 R:R.
Look for price to mitigate the order block have highlighted. If you do want to set a sell limit you can also go down to a smaller TF to find a CHoCH and enter off the new supply zone. This will keep the entry super tight with a high R:R
Structure has started to change so I will have sell limit orders set as you see them. I see GJ being bearish early in the week to mitigate at least one of the unmitigated supply zones. They both have high R:R set up. 1:8 & 1:14 R:R. Risk management is key.
15m structure has been broken and we have had a CHoCH. I will me looking for price to mitigate the order block marked in gray for a 1:6 R:R
GJ had formed a descending triangle on the 30m TF. Price may break out from the triangle as it normally would in the pattern and reverse from our supply zone.
Going down to a smaller TF to look at an entry short here. We are at a 4hr unmitigated supply zone
I'd like to see price come back into the supply area for a possible sell opportunity
We had a change of structure. I'm taking a buy set up from the lower demand zone. This set up is a 1:5 R:R
We are risking 1% to gain 26%. We have had a change of character on the 15m TF. We should see a change of trend at this supply or the next. Either way we will only be risking 1% of our capital. We will confirm with price action on lower timeframes to get a precise entry.
We will most likely see a smaller supply mitigated before returning to our main supply zone up top. We will wait for further confirmation on lower timeframes once price reaches that supply zone
We will most likely see a smaller supply mitigated before returning to our main supply zone up top. We will wait for further confirmation on lower timeframes once price reaches that supply zone
We should be on our way up to fill the gap (highlighted in yellow) and tap into our supply zone. We will go down to a lower timeframe once price gets to that point for our entry.
Looking at USDCAD right now to see if it mitigates the fresh supply zone. I will base my trade off lower timeframes to get a higher R:R. I'll be looking for some rejection, exhaustion and bearish momentum. We will have a 6:1 R:R with this set up
Price is tapping into a key level of supply. We have already broken a low so we will continue dropping here. You can have up to a 1:10+ R:R with this set up targeting structure on higher timeframes. Once we get back to demand I expect UJ to continue to rally long
As bearish GU may seem it is actually still bullish. We have not broken major structure. We are also coming into the bottom of a daily demand zone. I will be looking for a buy opportunity on a smaller timeframe with high R:R
I have mapped up the key unmitigated supply zones. I usually take my positions once price reaches 50% of the supply/demand area. Whether it goes against me or not is fine when you consistently use a high R:R ratio such as 1:8 and follow the current trending market. We will have sell limits in those areas. With both of these set ups they are both 1:8 R:R. The gray...
We have a nice set up here in a key demand area. We have a tight stop loss risking 1% to gain 7%