Price does one of two things; seek out liquidity or balances imbalances (FVGs). In this case, after price sought out External Range Liquidity (ERL) clearly, we can see a retracement. This retracement is to balance out price before it rallies up to take out the next ERL.
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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.