GBPUSD - CPI 20.03.2024

ICT Concepts x Quarterly Theory.

Top of the morning! Beautiful trade on the GBPUSD yesterday.

I blended ICT Concepts and Quarterly theory.

I will be posting more updates on this approach as time goes on.


Higher time frame narrative:

Monthly timeframe:
-The current monthly candle has bullishly engulfed the two previous bearish monthly candles.
-Price is currently trading above a monthly balanced price range that lines up with a previously violated monthly order block.
-A monthly FVG exists above current price, it is clear that institutional order flow is bullish.

Weekly timeframe:
-Weekly bullish FVG + Order block above the 50% level of a previously respected weekly order block. This offers us an area of high probability support. Our lower time frame entry point can be found in this area...

Daily timeframe:
-Daily bullish order block offers support and is in line with the weekly bullish FVG and order block.
-Bullish dragonfly doji candle printed the previous day, giving further confirmation that there is a lot of interest at our point of interest.
-Classic buyday template, price dropped lower from it's midnight open price to accumulate before expanding to the upside(Power of 3).



Quarterly theory:

Weekly profile observed: AMDX, bullish power of 3- Accumulation on Monday, manipulation on Tuesday, anticipated distribution on Wednesday.
Daily profile observed: Bullish PO3
Session profile observed(NY AM session): AMDX, bullish PO3

Monthly cycle: Quarter 3 - Third week of the month
Weekly cycle: Quarter 3 - Wednesday
Daily cycle: Quarter 3 - New York morning session

Trade entry:
Limit order, Quarter 3 of daily cycle
Entry model for this particular trade? Hourly FVG + Order block at optimal trade entry level (OTE, 0,62 - 0,79 level)