12R Silver Long Swing Trade | ICT's Smart Money Concepts

9 Mei 2023

I was waiting for a tight entry on Gold, and missed two very tight entries on Silver. If this pulls back into the 4h FVG & D -iOB (Daily Bearish inverted Order Block) it should offer a decent 12R long entry. Stop below last weeks' lows. Target is 30 dollars which is a previous monthly order block low.

Confluence: Silver has SMT divergence with Gold and has already swept the lows.

Not financial advice.

9 Mei 2023

Catatan

Here are those inverted ICT levels now holding as support:

9 Mei 2023

Catatan

And on the right hand side (now) on the daily timeframe. Look at the D -iOB v (bottom of the order block). Bodies of candles closing within:

9 Mei 2023

Catatan

Ignore the arrows, they are generally volume profile cuts or nodes.

11 Mei 2023

Catatan

Look at how the 4h candle closed on that order block line. That'd literally the BOTTOM of a bearish order block and so far price is holding ABOVE it like a bullish order block.
This is one of his concepts called Inversion. Just try and tell me ICT can't trade.

11 Mei 2023

Catatan

And it should be noted that while the algorithm references and reacts to these levels, even one printed a YEAR ago as you can see in the above image, nothing is certain and part of a market maker's job is to take out our positions so they can enter and exit theirs.

That is why I have also set a limit to add to my position lower down, at the line marked "1h +OB".

11 Mei 2023

Catatan

When I said it could go lower, I didn't mean this much lower. 😂 And to think some people say the markets aren't totally manipulated. I think the news today should have been _good_ for commodities as it means the Fed could pivot earlier to a dovish stance, but alas, whoever is moving the markets likely has some information the public is not privy to.

How's this for a daily candle? Meanwhile Gold has barely moved:

16 Mei 2023

Catatan

Post mortem:

Swing trading bias now switched from bullish to bearish. Bullish weekly candle on the DXY. Market makers have broken demand zone on BTC, Euro & Silver, likely flipping sentiment creating supply zone. Pulled my limit order on Gold as no longer long bias for now.

Can enter on Silver after bigger pullback and new accumulation pattern forming on 4h/daily chart going back to phase A.