Daily demand retest on 15min chart - structure analysis
Hi Traders,
The market has been sucked up to the downside in my point of view due to the Daily demand zone (red box) and the breakout traders that has been trigerred (look the big fall down breaking the structure). Usually I tend to see this kind of move as a first reaction to the liquidity momentum, once the move occured and cleared the orders I wait to see a retest of the breakout entry which is occuring right now. Then I wait for the real price action to come and penetrate the demand zone.
Let's see what is happening.
Happy trading
The market has been sucked up to the downside in my point of view due to the Daily demand zone (red box) and the breakout traders that has been trigerred (look the big fall down breaking the structure). Usually I tend to see this kind of move as a first reaction to the liquidity momentum, once the move occured and cleared the orders I wait to see a retest of the breakout entry which is occuring right now. Then I wait for the real price action to come and penetrate the demand zone.
Let's see what is happening.
Happy trading
Trade closed: target reached