Recently I have been getting alot of DM concerning Liquidity, picking out a valid OrderBlock...
I trade EURUSD only... I discovered focus on a single or fewer pairs is healthier for a Trader.
I will be using today's PRICE ACTION to shade more light on it.
Walk with Me🚶🏾♂️🚶🏾♂️
This was my outlook for the Day... FROM 4H
We have a BOS to the downside... Indicating Bearish pressure.
Of course... We don't take ENTRIES from H4
Refinements are necessary to reduce our SL
On H1 we see a Trend line Liquidity Below the POIs (Extreme and Decisional)
If you observe I marked out the sweep of Liquidity and min structure Break
This is often known as QM (Quasimodo) or CHOCH etc
Most times your entries will be inside the Quasimodo region 📍
The Breaker OB is of high Interest as it does the following
- Break Structure
- has Liquidity closely Below it
- in the Quasimodo Area (on H4 its a Bearish OB)
This is a clearly View of the STRUCTURAL LIQUIDITY just below my POI
I had to play PATIENCE and wait for Price to get to my SPECIFIC POI
Currently on a 1:13RR...
The 2nd Picture is an example for you to spot out the STRUCTURAL LIQUIDITY just below the SELL POI.
NOTE : I can refine EU down to the Secs Timeframe because I have backtested it properly.
I recommend you do same before you refine to M1 especially in Crypto
As it could lead to missed entries.
These traders trade other pairs so you can always use there charts as a Guide.
These traders trade other pairs like US30, NAS100, Crypto etc so you can always use their charts as a Guide.
Price finally Taped into that your POI
Unfortunately, you missed it the TradingView Alert 💔
How can you Hop on the Trade?
A thread 👇🏾 👇🏾
Often times if these said POI is a HTF (H1, M30 Etc) price often gives several Continuations on the LTF.
Which you can take advantage of...
Practical Instance
NAS100 Price Tapped into a PREMIUM Breaker Block On Friday,
I don't trade on Friday's
On Monday, I expect a Continuation (most times continuations are FVGs)
After the tap into the Breaker... We expect another BOS since the low is weak and Targeted
Price takes out Sell Side Liquidity and taps into a OB around 2am EST
Wait for LIQUIDITY to be taken first. ⚠
You know I Solely trade EURUSD, (Ps GU has been giving me some... but I don't cheat😁)
On this fateful Morning, I had my SELL Setup... Liquidity Below and all
While I was waiting Patiently, I got on the Phone with my babe.
I came back to this, Price reacted off a M1 supply 👇🏾
Of course I realized that PRICE reacted of the Closest POI
Instantly, I had to act fast as the 1st Entry may not be tagged
I waited for a BOS And LIQUIDITY Below the SELL OB
A Plan is a Well DETAILED sets of INSTRUCTIONS and RULES, for the daily Operation of TRADING.
It's quite Personal in the sense that PLAN are drawn based on what you KNOW, TESTED and PROVED.
You can't trade someone else plan successfully
Before drafting of your PLAN, You need 👇🏾
📍 STRATEGY
What Strategy do you trade?
Is it RETAIL or SMC (SUPPLY and DEMAND, Order Blocks, etc)
You have to know what you trade.
I met someone recently that was using RETAIL + SMC.
Please it's doesn't work like that alot of RETAIL setups are seen as Liquidity in SMC