Price broke structure to DownsIde last week, breaking support at 156.000. It has now retraced and made a lower high. At 50 percent fib retracement. Price broke the previous daily high and then closed back below on the 30 min tf signifying bearish pressure. I suspect this was a liquidity grab. Anticipating a drop to retest 156.000. Also the daily candle has no wick to the downside, so either it will drop to create this or there was no selling pressure at all and this trade will hit SL.
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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.