BIAS: BUY
4Hour Chart:
Logical Analysis:
Observation of Seller Activity:
Earlier in April, it’s like the Store had way too much AUD/CAD to sell at the price near 0.89–0.90. But no one was buying at that level.
So what did the Store have to do? It gave a massive discount, slashing the price quickly to try and attract buyers. That’s why we saw such a sharp drop—it was a clearance move.
But when the price hit around 0.84413, the discount finally worked. People started buying, and the Store no longer needed to keep dropping the price.
Since then, the Store (sellers) hasn’t been able to offer that kind of aggressive discount again. That tells us their inventory pressure has eased, or they just aren’t as active anymore.
Observation of Buyer Activity:
As soon as that big discount hit bottom (around 0.84413), buyers rushed in quickly.
They didn’t just buy a little. It looks like buyers were willing to buy at a higher price too which pushed the price up fast, all the way to around 0.88094, meaning demand was strong at those low prices.
Since then, buyers have been steadily showing up, even if not with the same rush. They’re still holding up the shelves, keeping price above the recent support zone.
The Store has found some buyers and i believe that it will not give a discount, buyers are happy and are saying, “We’re happy to keep buying here.”
What This Tells Us:
The Store couldn’t sell at high prices, so it was forced to lower them dramatically.
That discount sparked strong demand, and since then, the buyers have controlled the floor.
The Store has tried to offer smaller sales since then, but buyers scoop up the product before it drops too much.
Conclusion (Buy Bias Confirmed):
The big sell-off was just the Store offloading excess stock at a discount.
Buyers responded fast and haven’t stopped showing up, especially near that 0.88094 mark.
As long as the shelves stay cleared at this price and the Store doesn’t feel pressure to discount again, buying is the side with the stronger hand.
Technical Analysis: on the chart
Good Luck :)
4Hour Chart:
Logical Analysis:
Observation of Seller Activity:
Earlier in April, it’s like the Store had way too much AUD/CAD to sell at the price near 0.89–0.90. But no one was buying at that level.
So what did the Store have to do? It gave a massive discount, slashing the price quickly to try and attract buyers. That’s why we saw such a sharp drop—it was a clearance move.
But when the price hit around 0.84413, the discount finally worked. People started buying, and the Store no longer needed to keep dropping the price.
Since then, the Store (sellers) hasn’t been able to offer that kind of aggressive discount again. That tells us their inventory pressure has eased, or they just aren’t as active anymore.
Observation of Buyer Activity:
As soon as that big discount hit bottom (around 0.84413), buyers rushed in quickly.
They didn’t just buy a little. It looks like buyers were willing to buy at a higher price too which pushed the price up fast, all the way to around 0.88094, meaning demand was strong at those low prices.
Since then, buyers have been steadily showing up, even if not with the same rush. They’re still holding up the shelves, keeping price above the recent support zone.
The Store has found some buyers and i believe that it will not give a discount, buyers are happy and are saying, “We’re happy to keep buying here.”
What This Tells Us:
The Store couldn’t sell at high prices, so it was forced to lower them dramatically.
That discount sparked strong demand, and since then, the buyers have controlled the floor.
The Store has tried to offer smaller sales since then, but buyers scoop up the product before it drops too much.
Conclusion (Buy Bias Confirmed):
The big sell-off was just the Store offloading excess stock at a discount.
Buyers responded fast and haven’t stopped showing up, especially near that 0.88094 mark.
As long as the shelves stay cleared at this price and the Store doesn’t feel pressure to discount again, buying is the side with the stronger hand.
Technical Analysis: on the chart
Good Luck :)
Note
Price did not retrace to a level i wanted. The demand is high for this pair. for today if the pair does not show a sign of sell then i will probably enter the buy. standbyOrder cancelled
lets reset the idea and come back again, Price has reached an Important level of Selling
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.