CANX SMC Levels, Traps & MS

© CanxStixTrader

This indicator helps spot inducements and Smart Money Traps as well as basic support and resistance levels on your chosen time frame. Updated to include market structure to help identify valid zones and when to place your trades.

Using four of the most significant points in price action

1. Breakouts
2. False Breakouts (Traps)
3. Back Checks
4. Market Structure

I always go on about price action on my channels because this alone can help identify valid and invalid positions. If these three points are properly identified they can be some of the most significant points of movement in the price and bring significant gains to traders.

Breakouts

Breakouts can bring significant moves in price as the market swings after key levels are breached. This entry type can bring large moves and if momentum is on your side at those key levels.

False Breakouts

Also known as a bull trap or a bear trap, false breakouts can lead to swift and significant reversal of what looks like a key area break then becomes a large and sudden move to the opposite side. When a key level breakout fails to hold, parties entering to capitalize on the breakout can get left holding or forcing them to exit at a loss, which can double the force of pressure on the move to the opposite side.

Back Checks

Back checks are pull backs in trend that find middle ground to the two areas already described. Both momentum and entry price are decent, but risk is defined as a key level has flipped offering entry with stops below demand, or above supply.

Market Structure

Helps to identify the market direction and potential trend reversals so you have more clarity when placing your trade
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Combining these four methods will helps to diversify risk, understand trend development. This script helps to identify these points to traders with analysis of key levels, price structure, and trend direction.

Enjoy,
© CanxStixTrader

Keep it simple