EURUSD: Buyers Are Drowning 🏊
Updated
Buyers are taking a real beating, they keep buying but the dollar keeps pumping.
At some point the market will need to give them a sign of relief.
Since we have swept the liquidity below this zone and tapped into a mayor order block, we may begin to see slight relief here.
BUT
Don't think that a bullish candle means a reversal! This is what they will want you to believe.
I am expecting a buy lure followed by a strong sweep before price moves in the intended direction.
Something similar to what I have illustrated.
Of course, this is a long term play and will require lots and lots of patience and trade preparation.
At some point the market will need to give them a sign of relief.
Since we have swept the liquidity below this zone and tapped into a mayor order block, we may begin to see slight relief here.
BUT
Don't think that a bullish candle means a reversal! This is what they will want you to believe.
I am expecting a buy lure followed by a strong sweep before price moves in the intended direction.
Something similar to what I have illustrated.
Of course, this is a long term play and will require lots and lots of patience and trade preparation.
Note
We may begin to see rejections on this buy zone shortly.
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