This weblog is used to elucidate the detailed steps to make use of the Good Market Construction program and its scanner.
I am going to use an instance for example the detailed steps to make it straightforward to grasp:
Step 1. Go to the scanner. and have a look at connected file named “smart-market-structure-opportunity-scanner-1.png”.
Step 1.a Search for the row with essentially the most “vibrant yellow” columns. After all, you’ll be able to change the colour to your liking in choices. For now, the final line has 7 columns with yellow highlights. It is “USDJPY” pair.
The texts on these columns present
“> 6MH( 8 )”, “> 3MH( 8 )”, “> 2MH( 8 )”, “> MH( 8 )”, “> WH( 8 )”, “> YH( 28.7 )”, “< DH( -1.1 )”.
It means the present value of USDJPY at 149.78 is above 6 month-to-month Excessive value for 8 pips. ( additionally above 3 month excessive, 2 month excessive, month-to-month excessive, and weekly excessive value for 8 pips. And above Yesterday’s Excessive value for 28.7 pips, and beneath Immediately’s Excessive value for -1.1 pip.
This one row provides out numerous correct info on the place value is comparatively on larger timeframes, which is what Establishments use based mostly on Good Cash Ideas.
Step 1.b USDJPY is the pair to decide on for watch/entry as a result of it is proper on the highest value level of the final 6 months.
Now we have a look at the USDJPY chart intimately to confirm.
Step 2. Take a look at the 2nd connected chart file named “USDJPY1.png”. It is the each day chart of USDJPY with “Good Market Construction Strains” program utilized on chart. This system has the capability to indicate OrderBlocks, Honest Worth Gaps, Break of Construction, and Market Construction Shift, and different options on chart in addition to plenty of different options and choices. I solely turned on OrderBlocks to indicate on chart for illustration functions.
Step 2.a Because the chart reveals, the final time value hits 149.78 was Oct twenty first, 2022, nearly 12 months in the past. And the Highest value on that day was 151.94, it opened at 150.12. It confirmed the purpose that certainly the present value of 149.78 was the very best value of final 6 months. And really the final row, the two left columns did present it is 215 pips beneath its 12 month excessive, and 24 month excessive.
Step 2.b Wanting on the each day chart intimately, we discover that on Oct twenty first, 2022, it really was a 500 level day ( Excessive 151.94 – 146.16 ). 578 pips in at some point. And value reversed to the draw back for 3 months afterwards ( from Oct twenty first, 2022 to Jan sixteenth, 2023 ). It confirmed once more it is the nice turning level, and an important pair to observe for entries. No want to attend for lengthy for excellent alternatives anymore!
Step 2.c I solely placed on OrderBlocks on chart, and it reveals on Oct twentieth, 2022, the day earlier than the five hundred level transfer day, it was the Bearish OrderBlock marked on the chart. On this present day value opened at 149.84 and the Excessive was 150.28. Based mostly on Good Cash Ideas, it was the final bullish candle earlier than value turned downwards afterwards for 3 months. And it confirmed on chart ever since, and the Scanner caught it on Oct 2nd, 2023, nearly one 12 months later. And we do not have to attend a 12 months, or any day in any respect to catch these nice turning factors!
Step 2.d the day of Oct 2nd, 2023’s value motion, reaching 149.78, confirmed the idea that costs would return to satisfy the unfilled Bearish OrderBlock earlier than heads down. It is also the “Cease Hunt” which Good cash makes use of to comb the stops at this stage earlier than turning. This system has the choice to show crammed OrderBlocks/FVGs off, or flip them into different colours ( I had gray shade on chart after they get crammed/touched with later value actions ). You may set it to any shade you need on enter choices.
Now we go to Step 3. How will we reap the benefits of this nice entry alternatives?
Step 3. Following Good Cash Ideas of Prime Down evaluation, we go from larger timeframe charts ( Weekly, Every day ), to decrease timeframe charts ( 4 hour, 1 hour, and so on ). Now have a look at connected third file named USDJPY-4Hr-chart.png. It is the 4 hour chart of USDJPY of current value actions. I put a blue crossline on value stage of 149.78, on the day of Oct 2nd, 2023 when the Scanner caught it. Apparently, there have been 5 extra 4-hour bar handed to provide person loads of time to take this chance, ( 20 hours or a day of buying and selling time ). So that you solely want to attend 5 bars earlier than trades goes to your course!
Step 3.a On Oct third, 2023, USDJPY certainly turned downwards, with Excessive of 150.16 to the Low of 147.27 ( about 297 factors transfer, nearly 300 pips in at some point! ). That is the superb energy of the scanner, which may discover nice buying and selling alternatives using the pc’s tremendous calculating energy now we have at the moment. After all, all of us have totally different personalities and commerce totally different timeframes on totally different time zones, that is why the scanner reveals the pip distinction when it will get near all these longer-term necessary value ranges, the very best and lowest value of 24 months, 12 month, and so on, to the final week, and final day. To accommodate these totally different buying and selling kinds.
Step 4. To substantiate the validity of the Good Mondy Ideas, on the 4 Hour chart, due to the sudden actions of 300 pip drop on Oct third, 2023, it created one other “Bearish OrderBlock” once more on the 4-hour chart, as marked with purple shade on chart. and on Oct twelfth, 2023, 9 days later, it was crammed once more. So individuals who trades decrease timeframes ( swing dealer or day dealer ), can use these unfilled bullish or bearish OrderBlocks, Honest Worth Gaps, within the timeframe they like, and commerce accordingly.
Step 5. The marks of MSS ( Market Construction Shift ) on the chart, reveals that the course of the value actions have turned on the 4-hour chart. To substantiate buying and selling course change on this particular timeframe. One of many hardest issues with buying and selling is to cope with a number of timeframes, and with the assistance of BOS and MSS marks on the chart, it significantly simplifies the method of confirming market course on particular timeframes.
