Before reading this kindly go through our previously published idea on H4 timeframe to understand where this top down analysis is coming from.
Last week, we saw the dollar index reacting in a bearish manner after tapping into the H4 bearish order block which had previously caused a break of structure to the downside.
I believe that this bearish momentum is only short term and should e treated as a retracement to fill in the buyside sell side inefficiency the interbank price delivery algorithm left by the impulsive move up.
After this fair value gap is filled and price trades into the labelled H4 bullish Order block and fib level 62.0 we should see an expansion to the upside to clear out external range liquidity resting on all previous highs up there.
Dont forget to boost and comment this idea
Good luck and good trading.
Last week, we saw the dollar index reacting in a bearish manner after tapping into the H4 bearish order block which had previously caused a break of structure to the downside.
I believe that this bearish momentum is only short term and should e treated as a retracement to fill in the buyside sell side inefficiency the interbank price delivery algorithm left by the impulsive move up.
After this fair value gap is filled and price trades into the labelled H4 bullish Order block and fib level 62.0 we should see an expansion to the upside to clear out external range liquidity resting on all previous highs up there.
Dont forget to boost and comment this idea
Good luck and good trading.