$ETH -Buy now or wait to see if fills Fair Value Gap ($3,885)

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以太坊 (COINBASE:ETHUSD)

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COINBASE:ETHUSD 以太坊

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*SMT = Smart Money Theory = everything you think that is not retail related to trading. First, SMT does not believe that triangles, wedges , trendlines , channels, harmonics, etc. has any effect on how price reacts. The second is to recognize that the price is not random, it is set by an algorithm controlled by those that control the asset. The Third thing to remember is price will move toward Liquidity and Balance. That's the basics. The rest is very unique in the vocabulary you need to have and the concepts that wrap around these ideas.

ETH has fallen into the discount array (61.8%) of the pullback. However there is a fair value gap in this area and I'm curious to see if it wants to fill the gap and pull just below the Market Maker Buy/Sell Model consolidation area that previously took place in the red box. If that's the case it should reach down into the second fair value gap where theres a bullish order block around 3850-53 ish. I would have my entry at the beginning of the second fair value gap at 3873. just in case it entered and bounced out immediately. But it did reach into the discount array and immediately started and up track. However that doesn't mean a bearish order block can't knock it back down. I did enter with one position where it is currently shown watching to see if it will enter the second at 3873.

Let me know your thoughts if you're practicing Smart Money Theory.

Good Luck and Good Trading :)