<aside> <img src="/icons/reorder_gray.svg" alt="/icons/reorder_gray.svg" width="40px" /> How to remove FOMO? How to know which C.E. wick will work? How to chose the right FVG in old order flow?
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<aside> <img src="/icons/chat_gray.svg" alt="/icons/chat_gray.svg" width="40px" /> “You can be incorrect sometimes and still be profitable. Being profitable when you’re wrong.” ICT
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Weekly Chart
In the previous video we said that if price comes back down into our Inversion FVG and below the low of previous weekly candle we are no longer bullish. We shift to neutral bias and we wait the market to show us its hand.
If price trade below and comes back to the FVG, we can expect that it will treat it as Resistance. That will set the stage for a run on the REL Sellside.
Daily chart
💡**-Breaker is the candle with the lowest down close. The narrative is told by the bodies. The wicks do the damage.**
The breaker is labeled as “Weekly” because it forms over the course of more than 1 week. In reality it is based on that daily candle. From a weekly perspective, but not leaning on the weekly chart.
We can see how traded many times between the 2 levels inside the Breaker and eventually dropped back down to the FVG. For now we remain neutral and we gather more intel. If price goes below the FVG and respect it as Resistance that will give us the opportunity to find a short setup. We would like some Premium array to form that will start the move towards Sellside below REL.
Hourly Chart
We are not convinced entirely yet that we are bearish. We want to see price go below it and reject from it. “If this ……. then that…….” scenario. We are predicting what will happen, but we can’t force it to happen. Its a condition where you are allowed to relax and sit still.
If the breakdown on DXY materialize itself, then this FVG is the POI for EURSD. However if we break below this low, we are most likely headed to this low. But if we get Risk off scenario from dollar index, we wait and see if price goes above the SIBI and treat it as an Inversion level. That could potentially trigger a run towards the Volume Imbalance that was never traded to yet. This can evolve further into 3 Drives pattern.
Sometimes index futures may not respect its inversed correlation with DXY so you can be more flexible. With Forex it is almost iron clad. Decline in USD opens the door for rally in other currencies.
There can be times when no setup forms during the time of day that we trade. EUR can be traded in London open, New York open and London Close.
<aside> <img src="/icons/exclamation-mark_gray.svg" alt="/icons/exclamation-mark_gray.svg" width="40px" /> Profitable in the sense that there was no monetary loss, but wrong in expectation. No ego bruise, no pride harmed because there was no setup that failed. No setup manifested itself.
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Hourly Chart
15m Chart
