As the market continues to create new lows, something caught my eye.
3 areas of unwicked impulsive moves (FVG's) lying around 165.18 - 166.80, 167.65 - 169.69 and 170.32 - 172
With this, I identified two order blocks
[(166.8 - 165.9),(172.1-171.1)].
I'm traditionally wired to prefer the latter because there's more confluence factors;
A liquidity pool 169.70 - 170.3 established by price struggling to close above that level followed immediately by a FVG into an OB.
Price would have an instant reaction downwards if it traded to those levels.
However, the buying pressure might not be sufficient to push price to those levels before the crash.
Hence the other order block.
I'd be paying close attention to observe how it plays out.
3 areas of unwicked impulsive moves (FVG's) lying around 165.18 - 166.80, 167.65 - 169.69 and 170.32 - 172
With this, I identified two order blocks
[(166.8 - 165.9),(172.1-171.1)].
I'm traditionally wired to prefer the latter because there's more confluence factors;
A liquidity pool 169.70 - 170.3 established by price struggling to close above that level followed immediately by a FVG into an OB.
Price would have an instant reaction downwards if it traded to those levels.
However, the buying pressure might not be sufficient to push price to those levels before the crash.
Hence the other order block.
I'd be paying close attention to observe how it plays out.
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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.