Price Movement: The price opened and traded lower during the Asian and London sessions, tapping into a 1-hour order block (1.29434) and a 15-minute fair value gap (FVG).
Key Levels:
London Low Liquidity: 1.29415
1-Hour Order Block: 1.29434
15-Minute BISI Consequent Encroachment: 1.29394
Targets:
Asian Highs: 1.29740
CPI High: 1.29870
Economic Indicators: The recent CPI data created a high that might be targeted. Additionally, the PPI is due today, and the sentiment is negative, potentially weakening the dollar.
Key Levels:
London Low Liquidity: 1.29415
1-Hour Order Block: 1.29434
15-Minute BISI Consequent Encroachment: 1.29394
Targets:
Asian Highs: 1.29740
CPI High: 1.29870
Economic Indicators: The recent CPI data created a high that might be targeted. Additionally, the PPI is due today, and the sentiment is negative, potentially weakening the dollar.
Trade active
Pre-PPI Movement: Price passed the order block (OB) just before the PPI report.Post-PPI Reaction: After the soft PPI report, price spiked up to 1.29663, aligning with a 15-minute sell-side imbalance (SIBI).
Liquidity Takeout: After the 15-minute SIBI was respected, it pushed the price lower and took out the pre-PPI low as well as liquidity at 1.29250.
Extreme 1-Hour Order Block: Price then moved into the extreme 1-hour order block (OB) at 1.29310 and reacted from it.
Entry Point: Notable entry during the first NY macro.
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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.
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.