As dollar weakens, the price of Euro keeps going up. Upon failure to displace lower on first week of the month. Price took out low of week before framing a reversal. Price formed a fair value gap upon trading higher on Wednesday and Thursday (between Tuesday and Thursday)
Do you notice how price failed to pierce through our Tuesday candle? Instead price gave reaction to fair value gap and closed inside range. This alone is a good sign that price may have reached a zone with enough orders to push price higher.
Upon successful reaction, price will likely create a new POI until next supply zone is reached or until external liquidity is swept.
This is as far as I can go with explaining what I see. Please, feel free to share your point of view.
🕣
Do you notice how price failed to pierce through our Tuesday candle? Instead price gave reaction to fair value gap and closed inside range. This alone is a good sign that price may have reached a zone with enough orders to push price higher.
Upon successful reaction, price will likely create a new POI until next supply zone is reached or until external liquidity is swept.
This is as far as I can go with explaining what I see. Please, feel free to share your point of view.
🕣
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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.
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.