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Smart Money Concepts

Break of Structure (BOS)

Overview

A Break of Structure occurs when price breaks a previous swing high (in an uptrend, confirming continuation) or swing low (in a downtrend, confirming continuation). BOS confirms the prevailing trend and is used to trail bias. Internal BOS occurs within a trend leg; external or structural BOS breaks the last significant swing.

Key Concepts

Bullish BOS: price breaks above a previous swing high. Bearish BOS: price breaks below a previous swing low. Internal vs. external structure breaks. Must close beyond the level (wick touches don't count in strict SMC). BOS establishes bias for pullback entries.

Entry Signals

After BOS confirms trend direction, trade pullbacks into FVGs or OBs, Wait for LTF confirmation after BOS on a higher timeframe, BOS + liquidity sweep of the interim swing = high-probability setup

Exit Signals

Trade in BOS direction until a Change of Character (ChoCH) occurs, Stop beyond the FVG/OB used for entry, Target the next liquidity pool in the BOS direction

Best Timeframes

Multi-timeframe: identify BOS on 4H/Daily, entry on 15M/1H

Pro Tips

BOS is a trend-continuation signal, not a reversal signal. Many new SMC traders confuse BOS with ChoCH. BOS means 'more of the same'. ChoCH means 'trend is changing'.

More Topics in This Category

Optimal Trade Entry (OTE)

The Optimal Trade Entry is an ICT concept that identifies the highest-probability retracement zone for entering trades in the direction of the prevailing trend or order flow. The OTE zone sits between the sixty-two and seventy-nine percent Fibonacci retracement of the most recent impulsive leg, which aligns with institutional re-entry pricing. Entries at the OTE provide favour­able risk-to-reward ratios because the stop is placed just beyond the swing point.

Fair Value Gaps (FVGs)

A Fair Value Gap is a three-candle pattern where the wicks of candle 1 and candle 3 do not overlap, creating an imbalance or gap in price. FVGs represent areas where price moved so aggressively that there was insufficient opposite-side liquidity. Price tends to retrace into FVGs before continuing, making them excellent entry zones.

Power of Three (PO3)

The Power of Three is an ICT concept describing the three-phase cycle that institutional traders use within each session or candle: accumulation, manipulation, and distribution. During accumulation, smart money builds positions quietly. Manipulation creates a false move to trigger retail stops and generate liquidity. Distribution is the real directional move where institutions deliver price to their target, profiting from the liquidity gathered during manipulation.

Breaker Blocks

A breaker block is a failed order block that becomes a powerful support or resistance level when price returns to it from the opposite side. When institutional buying or selling at an order block is overwhelmed and price breaks through, the original order block transforms into a breaker block. Smart money uses these levels to re-enter in the new trend direction as they represent an area where the previous thesis was invalidated.