📉 Recent Price Action:
Last week, we saw the previous week's low being swept, taking sell-side liquidity. For those unfamiliar, sell-side liquidity refers to the stop-loss orders and sell orders accumulated below a previous low. When these are triggered, it provides the liquidity necessary for larger market participants to enter buy positions at lower prices.
Given this sweep, we anticipate a pullback into the 2352-2364 region before continuing the downward movement.
See chart for more information on technical Analysis done
Last week, we saw the previous week's low being swept, taking sell-side liquidity. For those unfamiliar, sell-side liquidity refers to the stop-loss orders and sell orders accumulated below a previous low. When these are triggered, it provides the liquidity necessary for larger market participants to enter buy positions at lower prices.
Given this sweep, we anticipate a pullback into the 2352-2364 region before continuing the downward movement.
See chart for more information on technical Analysis done
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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.
Related publications
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.