The three drives completion was followed by a bullish engulfing candlestick which indicates a complete take over and price raised all the way up to violate the supply zone. Price was nicely rejected and decreased to change market structure, initially tested the demand zone and made a retest which led to a minor manipulation then pushed to the upside with this long candlestick, but failed to activate the order block and dropped without fully correcting the inefficiency. This massive drop stopped at level 1.35073. Price made a pullback to the breaker block and declined to violate the demand zone. This doji candlestick shows loss of bearish momentum, currently looking for price to appreciate to the supply zone at 1.35791, then we’ll evolve with the market from there…
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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.