Price swept the 1H key level and closed below with a bearish engulfing. Breakout traders got into a long trap, so the "underwater".
To close their long positions, they have to sell. That is exactly why I expect to see price trading lower to opposite liquidity levels.
I'm excited to see your opinion in the comments, and I'd like it if you could boost this idea if it was helpful for you!
Keep it simple and consistent!
To close their long positions, they have to sell. That is exactly why I expect to see price trading lower to opposite liquidity levels.
I'm excited to see your opinion in the comments, and I'd like it if you could boost this idea if it was helpful for you!
Keep it simple and consistent!
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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.