Thats purely a technical view based on ICT concepts and years of looking at price.
Price has traded into a weekly Bearish orderblock , which is in confluence with a daily bearish orderblock. Price rencently traded into midthreshold of the bearish orderblock which is at a premium of the recent price swing to the downside.
1hour chart presents a buystop liquidity run that occured yeasterday 2024/05/08
Price has traded into a weekly Bearish orderblock , which is in confluence with a daily bearish orderblock. Price rencently traded into midthreshold of the bearish orderblock which is at a premium of the recent price swing to the downside.
1hour chart presents a buystop liquidity run that occured yeasterday 2024/05/08
Trade closed: stop reached