Showing posts with label resistance. Show all posts
Showing posts with label resistance. Show all posts

Monday, March 20, 2017

Resist or Resistance

The Daily Chart shows that we are currently near a previous high and at the time of this post, the current price action might set up a bearish Power of 3 pattern. It will be invalidated if we trade higher than, 1.0777ish.


I also think that we are against a H1 Bearish Order Block and that price might play out an Optimal Trade Entry Short. There are stops below at levels ICT would call, "too clean."


Tuesday, February 18, 2014

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.

Tuesday, November 26, 2013

Adapting - Short

I got short and I am currently waiting to take final profits on my trailing portion. 

2. You don't need to know what is going to happen next in order to make money.

                                                  - Mark Douglas


Thursday, November 21, 2013

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?