Daily order block has yet to be mitigated leaving pending orders that need to be liquidated. Based on lower timeframes and a Wyckoff accumulation schematic, looking to take price back up to unmitigated 5M/1M order block before falling to pick up more liquidity to take to the upside.
Based on daily timeframe structure, we are in an overall bearish market. Right now price is in a distribution schematic. I expect a move to liquidate orders and stop losses above the last daily swing high before continuing down. Here on the hour I expect another small push up to entice buyers in the market before falling to either untouched order block from the...
Wyckoff schematic to move down into an M15 order block to pick up liquidity before a final push long to the most recent untested weekly order block around 1.40693. From there possibly looking for the market to resume downward per weekly trend bias.
Based on the exhausted down trend and briefly falling below then coming back above a previous significant low, I expect price to continue to rally to the upside, creating new structure and filling demand zones recently left untested. Potential take profits marked in yellow dashed lines and long-term take profit indicated by purple box. Abbreviations across the...
