A strong rejection
Price got rejected four times from the daily rejection block, initially engineered a supply zone that was mitigated, followed by a sweep. The liquidity sweep impulsively corrected the imbalance and significantly respected the demand zone at 0.65900. Then we experienced a hike to clear the liquidity created by the fair value gap which led to a minor decline to the hourly breaker block. From the 30 minute point of view we have the breaker as our base and price happened to make a sweep of liquidity and simultaneously mitigated the 30 minute order block. This indicates that we’re still in a bullish market because all the timeframes are in alignment and we currently have the 4h liquidity pool acting as our magnet. The anticipation here is for price to sweep the liquidity, mitigate the supply zone, provide us with the 5th retest to the daily rejection and we currently have a bullish engulfing candlestick to solidify this emerging hike before going bearish...
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.