Trading with Price Action 2nd Chapter

As mentioned above, there are different ways to effectively use price action, but one of the ways we will be looking at is (Smart money concept) SMC.

This concept of trading purely utilizes the use of price action, in order words it is the use of a traditional method of trading such as supply and demand, resistance and support but in a more advance way.

This concept on its’ own, helps you in approaching the market in a different way entirely, various terms involved in the concept of SMC includes order block, mitigation block, liquidity grab, brake of structure, change of character, shift in structure etc.

EXPLANATION AND USAGE OF THE TERMS METIONED ABOVE

Order Blocks: this is the following of institutional steps or trails left. For example, when the market gains momentum, theirs is always a starting point, that starting point is where we will be looking to enter a trade

Image explanation and video link if any

Mitigation Block: this is like the completed stage of order block, after the market has created an impulsive move, the return of the market to the origin of the impulsive move is what we call mitigation block.

Image explanation and video link if any

Liquidity grab: for example, double tops and bottoms that we have known since are examples of builded up liquidity that are waiting to be swept.

Waiting to be swept How?

Image explanation and video link if any

But before you can apply all this listed above, as a trader you have to be able to do your top down analysis

I basically start from the 24hrs time frame to know the direction of the market, after marking out my brakes of structure,

Wait wait wait oo u no tk wen u dey mark out this breakes of structure and how to do it

Image explanation and video link if any

This basically helps to determine the movement of the market either up trend or down trend with the use of trendlines etc., (determining the higher highs and lows of the market)

I carry out the same process on the 4hr time frame where I look for my Order block (where I am expecting the market to reverse)

In order words a point of interest(POI) either uptrend or downtrend where when the markets gets there, there will be a reversal either up or down.

There after I go to the 15 mins timeframe and carry out the same process (but in this time frame I am looking to resize or adjust the order block in order to increase my risk to reward ratio,

whereas I use the 1min time frame as my entry point via the poi on the 15mins

where do you enter in particular while at the 1min timeframe ,the POI?????

combining it with all the other terms mentioned above as my confluence.

Some Basic Steps

identify the trend

mark out POIs

Wait for the market to come to your PoI as a turtle soup pattern (A,B,C Pattern)

Some least volatile pairs

vix 10 and 10s

vix 25

vix 75 and 75s

vix 100s