Hope you are enjoying the trade. If you see our morning blog where I outlined some structures based on the current market situations, you'll notice how accurately the market followed our 2nd structures. This is the point where you can execute the trade.
First, I hope you did this: go to smaller timeframes, such as 1m to 15m. After a breakout, find the perfect breaker block, fair value gap (FVG), and momentum shift. The main point here is not to miss the retailer liquidity. Check the image where I have marked all the key levels important for today's trade.
In the case of XAUUSD, the market reached the 1-hour order block and closed one candle downward. If you go to smaller timeframes, you will see that the market tested the FVG and could potentially move downward. But the 1H order block did not permission to move more downside, and the next candle of 1h break the structure again with the high volume candle.
Do not forget to look for entry confirmations on smaller timeframes. If today's candle closes upward, understand that the market has changed direction and is likely to move upward the next day.
For BTCUSD, we are still waiting for the level to be reached. The Bitcoin price has not shown a perfect move yet, so we are waiting for our levels. Making sure not to rush Okay this is where you have to be patient and wait for these signals again, don't ever get greedy with your trades because all of them are losers.
Pre-Cautions - Smaller Timeframes: Always visit smaller time-frames (1m to 15m) after a breakout for ideal breaker blocks, FVGs and momentum turn. It was a good suggestion and helps to make more accurate entry points.
Retailer Liquidity: Retail liquidity should not be overlooked. It offers invaluable insight into potential market direction and trade entry points.
Key Levels: You can find the key levels marked on these 2 images. You need to know these levels when you consider making a trade.
Market Structures: Understand and Identify the Market Structure. The report is essentially supplemented with vital information & highlights detailing the combined effort of top-notch lead players in building your business.
BTCUSD: So you need (more) patience! You should wait for the market to reach those predefined levels before taking a trade. Any trade without conformation can cause you lots of risk.
If you do this right and get to know the market structures, your decision will be more trap less. Never forget to spot the confirmation for entry and do not rush into trades, analyze it, then take action. The disciplined approach will help us to earn the maximum profits with minimum risk.
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