Eurusd and the 4th Day

Today's trade idea is following suit with my recent analysis and popped up today. It appears that we have a bullish power of 3 setup on the daily. Remember, we don't count the Sunday candle. Tuesday's price action brought on more bullishness and new highs. For now, market flow on the daily chart is bullish.

Market flow is still pointing north.

According to the Power of 3 setup, since Wednesday is the 4th day in the setup, we're going to be hunting a level to get long below the day's opening price. The level must have a high probability price as well as a confluence of other factors that would lead you to believe that the market will react when it gets to that price.

I'm thinking that we might be OTE Long around 1.0780-1.0770ish. Otherwise, I think we take a dip down to 1.0730ish. 

The eurusd pair is very close to significant highs and looks like its getting ready to run a touch higher. However, I wouldn't be surprised if we retrace and run some stops down lower.

Took +18 pips on 2/3 of my position. Possible ICT Reflection pattern against Resistance. Not much but I'll take it. https://t.co/TFC35VAIx9 pic.twitter.com/NVkRJGBOj0

— Manny G (@GGoodpunk6) March 21, 2017

I did manage to take a very small chunk of the price action and was stopped out at +1 on the final portion of my trade.

Winning Trade! eurusd trade

A couple of weeks ago, I predicted that this month would see its fair share of bullishness and so far it has delivered.

I installed an EA that will take a screenshot of an entry and exit and will plot the trade on the chart for me automatically. We can easily see where I entered the market and subsequently scaled out of it.

I took the first half of my trade off at +20 pips! After moving my stop to 1 pip over Break Even, I was able to nullify my risk and since I had already made money on the trade, I let the market do the rest of the work for me!

Earlier, I took 1/2 of my position off the board at +20. Moved stop to BE+1 #killingitICTstyle #Traders #eurusd https://t.co/TFC35VAIx9 pic.twitter.com/3f0lbwKxhI

— Manny G (@GGoodpunk6) March 15, 2017

A little while later...

Just took the rest off of the table at +72!!! #killingitICTstyle @ICT_MHuddleston https://t.co/TFC35VAIx9 #eurusd #Traders https://t.co/bSDxs92O3w

— Manny G (@GGoodpunk6) March 15, 2017

As you can see in the free chart below and as per ICT's concepts, I chose the 161.8 extension of the swing that we were currently working in as Take Profit Objective.

Today's price action was very clear and deliberate. I never follow the news and was able to tell where the market was going to test even before the fed news. As a matter of fact, I didn't even know that there was going to be a fed, "whatever," until just a couple of hours beforehand. This did not affect my view in any way shape or form.

As shown above, we easily cleared that and pushed far beyond the high I anticipated.

When you use ICT's method's, you know that you analyze the Weekly Chart (W1), and draw a lot of your bias from the H4, D1, and W1 charts. Afterwards, you look to your H1 Time Frame chart and you can see the litany of setups all week.

Below you can see that price traded down into a H1 Bullish Order Block that also matched up with an Asian Range High from last week, that also happened to be the high probability level of 1.0600. As you might have guessed, 1.0600 has been a previous level of Support and Resistance. In this example, price was being tested as support.

Once price returned to clear the other side of the Asian Range, we can easily conclude where price is heading for the day.  Fed or not.

Successful Trade Idea

I took a couple of longs this week that worked out well.  One much better than the other.  All in all I hauled in about 100 pips for the week.  ICT, if you're reading this, thanks a lot!!

When I took this screenshot, I was already long from 1.0530 and taken half of my position off of the table at +25.  I moved my stop to BreakEven +1.  I was able to let the rest go at 1.0585.  

If you weren't able to get the long down at the Daily Order Block (in blue on the chart above), then the New York Open Killzone, where an OTE long occured, is where you could have jumped in.  Notice that the NYO OTE Long occured right against the Asian high.  There was a lot of confluence today.

The chart above is from my post here. As you can see, I predicted these levels to be long opportunities. I'm fortunate that I was able to get an order filled 

I'm back! Here's a new trade idea!

This month might see some bullishness in the eurusd.  

I'm hoping a move lower will provide a long opportunity.

I'll be looking to get long in the 1.0530 area and in the 1.0560 area as well.  I think the week might close lower but for now it seems we have a long setup.

1.3680 and the Weekly Trinity Breakout

An overlay chart reveals that a Smart Money Trade Divergence existed.  The GBP broke new highs while the EUR still had not.

A quick glance at the H1 chart reveals that market flow in the short term was bullish.  

A confluence of levels might keep this rally at bay.  Either way, I paid myself.

A combination of all of ICT's tools allowed me to hold my trailing portion over the weekend.  In the m15 and m5 charts above, you could see plenty of buy opportunities that would have gotten you in sync with the market.

So far, this week has been a bit slow.  However, if you are trading using ICT's concepts, you would have been hunting for setups at high probability levels and most likely turned a profit.  1.3680 is a big level for me as I have been blogging about it recently.  Here as well.

1.3640 and 80 pips

I got long just before NFP.  Yesterday was a prime example of how news events usually setup an OTE pattern either just before, right after, or even during.  As you can see above, I wasn't in this trade for long.

Yesterday morning's action revealed that the London Open Killzone (currently 2AM-4AM EST) sold the market down to a high probability level of 1.3550 Mid-Figure.  

There it is.  The higher time frame OTE pattern that stopped price dead in its tracks after NFP.  If you missed the long before the event, you could have taken a few pips on the short after the event.  

I drew my fib from the 1.3680 level because that swing lower was the swing that indicated a move lower was coming by breaking the previous fractal low at 1.3628.  I set my target as 1.3640 because of the charts just above and because I've had success with this level in the past.

Long NYO Double Bottom

The Euro double bottomed against the GMT Daily S3 Pivot (1.3531) earlier today.  This double bottom provided an long opportunity that helped me gain +10 on one portion and I still have a trailing portion out there with my stop at BE+1 and a TP of 1.3569.  The 1.3540 level was a level that I marked off on my chart as being high probability.  I'm happy with +10 on the day so if I'm stopped out on my trailing portion, I'll be grateful for what I was able to take from the market.

Long Bias

As you can see in the picture below, crude oil prices are still resting near the 70.5 fib on the higher time frames. As I have been saying, I believe higher prices might be more likely. If not, then the market might be in a higher time frame consolidation.  A, "Seek and Destroy" market profile.

Again, the 93.65 level served me well.

Long - Bullish Marketflow

Added to my position. I believe that we will challenge the 96.00 level.



It appears that with yesterday's action, a short at the 9540 levels would have worked. You would've had to be quick though.

Long 93.65 Search for liquidity

Is it possible that we have resting stops above the 9540 level? If so then it's possible that the market could spike through this level and return to the range that we've been in this week (9265ish - 9540ish). If we do not return to the range the market is going to head north and I expect the 9620 level to be challenged.

Is it a better short?