Hello Traders,
This pair has reacted from a monthly demand level and is trying to create a higher high there by hunting liquidity.
As you would notice, price is a few pips away from the weekly buyside liquidity which if it is hunted, a reaction is expected. Looking left, you will notice how price dropped strongly from that level.
My speculation is that price would take liquidity from there and use is as a form of retracement to the weekly order block.
Follow for more updates like this.
Cheers,
Jabari
This pair has reacted from a monthly demand level and is trying to create a higher high there by hunting liquidity.
As you would notice, price is a few pips away from the weekly buyside liquidity which if it is hunted, a reaction is expected. Looking left, you will notice how price dropped strongly from that level.
My speculation is that price would take liquidity from there and use is as a form of retracement to the weekly order block.
Follow for more updates like this.
Cheers,
Jabari