Smctrading
EURGBP 20/10/2022 Short Idea- Daily Countertrend Downward Effort
- Ascending Wedge
- Bounce from AOI/Imbalance Aligns with an EWT pullback wave and a mitigation where the entry is
- Reaching Entry Level Matches typical NY Session Open Behaviour and confirms break of 50 EMA Support
- Exit at mitigation of big manipulated move
- Current Lower Timeframe Impulsive Move breaks market structure
- Lower Timeframe Uptrend is at 3rd drive
GBPUSD 19/10/2022 Long Idea- Entry at imbalance 50%
- Liquidity to the upside
- Descending Liquidity
- Long Along Daily Countertrend
- Current countertrend impulsive move (3rd drive, probable manipulation) needs a 3rd drive on it's lower timeframe trend
- At 4H 50 EMA Support ( our entry is below it )
NAS100 Sell IdeaConsidering that the chart is in an overall HTF bearish state and has also not yet presented us with long setups, I'm still looking for short objectives, obviously not forgetting that on a HTF, price is consolidating inside demand. One of two things can happen and I'm going to be watching price action and will update moving forward.
USOIL - Short Idea 💡Here we have my outlook for USOIL
Looking for shorts from either of the 2 highlighted area's shown on the charts and targeting the lower H1 OB sitting above the price gap which i expect to be filled.
As for an Entry method for this trade i will be monitoring the lower time frame price action at the supply area's on the chart and looking for bearish LTF confirmations before entering.
Always remember to use proper risk management, this is what will keep you in this game long term! :)
M15 chart below
next time more precisely...unluckily i used as a poi a zone that was too small and that did not include part of the volume which there was at that particular moment, as i thought there has been a push from that zone and i think that the impulse could reach the zone at 0.98570, in the meantime it could be a good idea to search for a buy-to-sell entry.
DivergenceThere is a divergence on what is happening on Weekly chart and what is happening on Daily, and we are in front of multiple possibilities:
- short movement from weekly supply zone holds and price goes to get 1614.37
- short movement doesn't continue and there is a push from 1 of the 2 market zones from daily, and that push goes to get some liquidity either in the same weekly zone which created the last push ( i consider a low probability of this happening )or in the zone above where a bunch of volume sits