EURJPY 1
Direction
SELL
Pair
EURJPY
Percentage
Session
913%
LONDON
NEW YORK
STRUCTURE
Daily - Structure is in an uptrend and as we had a good BOS to upside we
eventually start looking for a major reversal back to an IFC near the origin or
at least in discount pricing. Monitor H1/H4 for BOS back to the downside so
we can trade the complex pullback.
H4 Here we can see a clear BOS on the H4 to the downside. A wick for me is
BOS regardless because it takes a lot to move the market even 1 PIP. Once
this clear structure break has happened we can then start looking for IFCs
near the origin.
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Here is structure leading to the high created on the daily.
As price was in an uptrend we were expecting a HH to be made after price
came back down to our demand area. But instead what happened was that
price just shot through it. Therefore we should look inside this area to see if
we can find anything that makes sense that we can use as a POI.
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Going through all the TFs all we can find is this clear imbalance but no breaker
block. So i will try going up the TFs instead to see if there was something that
needed mitigating at the open on the HTF.
So cycling through the HTFs we find this IFC on the H8 with imbalance that
needs mitigating. Why did I do this? As we have seen many times that
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mitigations can happen at the open/middle or extreme and it is our job to
monitor how price reacts on the LTFs when it gets there.
So now that we have our POI which is the imbalance we can drop to LTF and
see how price approaches our area.
On the H1 we can see that there are a clear set of EQHs just below the
imbalance which adds confluence as we no they need to be taken out.
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As we come into our POI we can see on the M2 clear structure making HHs.
Once it mitigates the the imbalance on the H8 we can see clear order flow
followed by a BOS. at the BOS we see a clear breaker block candle which has
an IFC with imbalance next to it. This is the area for the first sell. Why this
area? This is where price should have come to mitigate the demand to create
a new HH but price just went through it leaving that one bullish candle in the
middle of all the bearish ones. The IFC is quite big so will use the 50% for
entry. 4 PIP SL.
Here is the reaction on the H1 showing its a clear IFC
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Followed by this we then had a BOS on the H1. We should then look for
another entry as we would have taken partials and SL at BE. No risk on the
table. Here we can see 1 bullish candle middle of the whole bearish move
down. Lets zoom it.
Zooming in on the setup there is only this clear IFC with imbalance as
everything else above has been mitigated so clean order flow.
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BOS of the M5 and i could still not see a clear entry so then i started to zoom
out after.
This then became a new POI which had clear EQHs below it. Again go to LTF
and see if we can get an entry as price approaches it.
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As we can see when structure is clear we will always get a very nice clean
setup. 1.5 PIP SL.
After this we can look for another BOS of the H1 to continue and relook for
another entry as our SL would be at BE and partials taken. On the H1 this is
our IFC with clear imbalance so lets zoom in again.
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Zooming in as price approached the LTF we would have taken a loss or a BE
depending on how you manage but we had clear BOS and mitigating of the
extreme IFC.
We then looked for a 2nd entry as the EQHs were taken out and it presented
itself after the miner BOS. 2PIP sl.
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I want to finish of with a final one that gives around 5001 RR.
So first we had the H4 BOS and then we can start looking at H1 structure and
wait for it to align in the same direction as the larger complex pullback. Once
we had the BOS lets highlight our IFC and see how price behaves coming into
it.
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At the high of the H1
Chosen IFC. Drop M4 or lower you will find imbalance.
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Lets look at structure coming into our IFC.
This wick must have mitigated something on the seconds TF as it looks like an
FU candle therefore there has to be an IFC inside it so will target the 50% of it.
This is a different confluence i use so i cut my SL in half you could have taken
it as the full.
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1 PIP SL. This was actually a trade taken by someone. Check the RR now.
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So the results over the last 2 months on just 4 positions for this pair but there
were many others. These were all just in line with structure and HTF that is all.
1st trade: 112%
2nd trade: 278%
3rd trade: 198%
4th trade: 325%
Combined: 913%
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