Breakdown of this +10R trade I took yesterday on $BTCUSD
Read slowly 👇
Read slowly 👇
First things first - MARKET STRUCTURE
I mapped my high timeframe structure from the Daily to 4H
And this is my 4H range as clearly seen below
Ps: I duplicated the trend line tool and forgot to edit the low to high - mistake
I mapped my high timeframe structure from the Daily to 4H
And this is my 4H range as clearly seen below
Ps: I duplicated the trend line tool and forgot to edit the low to high - mistake
Moving on....
Since 4H is bullish, what do we expect?
If the bullish trend should continue, - We expect a higher-low to form and then another higher-high.
Where can we anticipate price to react from - to form that higher-low?
👇
Since 4H is bullish, what do we expect?
If the bullish trend should continue, - We expect a higher-low to form and then another higher-high.
Where can we anticipate price to react from - to form that higher-low?
👇
Well,
In this case I used the concept of Premium & Discount pricing
If you look closely in the image below, there is a faint red line there, that's the EQ on 4H
So below is the Discount, and anywhere within the discount, that's where I expect the HL to form
In this case I used the concept of Premium & Discount pricing
If you look closely in the image below, there is a faint red line there, that's the EQ on 4H
So below is the Discount, and anywhere within the discount, that's where I expect the HL to form
Next, I bring in the concept of Supply & Demand zones
I mapped out those two Demand zones - the origin (below) and the decisional demand at the top
Now, the decisional demand is a little bit below the EQ so I expect a decent low timeframe reaction even if it later fails.
I mapped out those two Demand zones - the origin (below) and the decisional demand at the top
Now, the decisional demand is a little bit below the EQ so I expect a decent low timeframe reaction even if it later fails.
I was sitting on my hands and waiting for price to touch the EQ line on the 4H, before I decided next step
And then after a few hours I checked and it touched it
And then after a few hours I checked and it touched it
When that happened, I went down to 15 mins timeframe to wait for additional confirmation.
I waited for M15 CHoCH (change of character) as that's a sign that the demand is reacting
I waited for M15 CHoCH (change of character) as that's a sign that the demand is reacting
And when I saw that M15 CHoCH - it was quite aggressive, I then went down further to 1 minute tineframe which is my execution timeframe, - to look for entry
Well, the first one is not the best of S&D flip out there, but I mapped it out because I never can tell which would hold.
Well, the first one is not the best of S&D flip out there, but I mapped it out because I never can tell which would hold.
What I did was I set entry on both - because from my little experience, you might be waiting for the origin demand to trigger and price won't get there before it move
So I set entry on both, and I also risked accordingly 👇
So I set entry on both, and I also risked accordingly 👇
Well, price did it's thing..
The decisional acted as an inducement to the origin, and it triggered after a few minutes
The decisional acted as an inducement to the origin, and it triggered after a few minutes
Price revisited entry more than twice... Almost sniped SL
Well since I've done all the hard work and I risked accordingly, there is no need to panic.
I was just sitting on my hands and watch price do it's thing...
Well since I've done all the hard work and I risked accordingly, there is no need to panic.
I was just sitting on my hands and watch price do it's thing...
And boom 🙂
We smashed TP ✅
1:10 RR
We smashed TP ✅
1:10 RR
You might wanna ask 'why the target' ? 🤔
Well, I saw that un-mitigated M15 supply zone, I knew we're going to see reaction or even a possible reversal from there.
So I set my TP just before the supply, to avoid stories that touches the heart 🤣🤣
And yeah, we saw a reversal.
Well, I saw that un-mitigated M15 supply zone, I knew we're going to see reaction or even a possible reversal from there.
So I set my TP just before the supply, to avoid stories that touches the heart 🤣🤣
And yeah, we saw a reversal.
The saddest part..??
Broker Spread took me out on this position and I ended up missing the entire move 😭😭😭
Omo, e pain me die but we move sha 😣
Broker Spread took me out on this position and I ended up missing the entire move 😭😭😭
Omo, e pain me die but we move sha 😣
Anyways that's all for that, I hope you enjoyed reading 😊
Please don't forget to tell me sorry in the comment, cos wetin spread do me still dey pain me 😪
And kindly to follow me @dnatechbro as I'll be doing more of this from time to time.
Please don't forget to tell me sorry in the comment, cos wetin spread do me still dey pain me 😪
And kindly to follow me @dnatechbro as I'll be doing more of this from time to time.
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