As traders, we all want to be able to spot and capitalize on early transitions in market structure. It can be tricky to identify these changes before they happen, but with the right tools and a little bit of practice, it's definitely possible.
One approach that I've found to be effective is to watch for Fibonacci take profit levels being hit and the Monday-Tuesday Initial balance prints. These can be good indicators of where the market might be headed, especially when paired with a close eye on price action.
When I do identify an early transition in market structure, I've found that it's best to aggressively take profits until higher timeframe structure breaks confirm. This means that I'm looking to get in and out of positions quickly, but still with a focus on risk to reward.
By working from outside of the box and adapting my strategy to swing from earlier points in new short term trends, I'm able to identify opportunities for profits that others might miss. Of course, this approach takes some time and effort to master, but the rewards can be well worth it in the end.
It's important to remember that no strategy is foolproof, and there will always be times when the market behaves in unexpected ways. However, by paying attention to early transitions in market structure and adapting your approach accordingly, you can increase your chances of success and become a more well-rounded trader.
US30
US30 rose overnight giving us 3 sessions of rise.
Price peaked prior to NY finishing the Long move to -61.
This push up also swept Fridays Peak Formation High.
Price fell back to the previous days high in 3 candles before bouncing.
I entered short on the bounce targeting the low of the week.
USD/CAD
Day 2 Long on Monday. Fibs pulled across Day Range.
Price retraced through Asian & London Session to 71 Fib level.
Price rejected twice, then rose before stophunting back into thew low early in NY session.
Entered long on wick to the low targeting 0 and then Fib Levels -27 & -61.
I closed positions in profit on live account.
This play is a swing experiment on an evaluation.
AUD/JPY
Price rose in Asian session to complete Long move up top -61, expanding the Initial Balance.
Price began to work its way back down inside before stophunting high early in NY Session.
I entered short, targeting the low of the week.
I closed positions in profit on live account.
This play is a swing experiment on an evaluation.
GOLD
I was expecting Day 3 Short on Gold after Day 2 on Monday.
Price rose to the 71 Fib level with 3 sessions of rise.
I entered Short targeting the low of the week.
Price paused at the 38 fib level where I took half profit and the rest hit SL at breakeven.
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