Sell opportunity
Updated
Price has swept liquidity to the left, and so what we see thus far is price creating a Wycoff schematic in the 5 minute range, but also in the current 30 minute tf. We can see an orderblock within an orderblock (green and red box), these are multiple confluences that institutional orders, that institutional moves are at play. The liquidity sweep occurred, and order blocks are forming is a very significant confluence. The liquidity sweep is actually the spring for a larger tf! That is significant, if that should be the case this could play out to be a big move. We also see that in the daily/weekly structure price can be expected to retrace a little enough for a significant rr to be had. Anyways the current tf shows an orderblock within an orderblock. Generally OBs are mitigated rather quickly, with a wick and then price moves away from the area. So we can expect an opportunity for entry at this area. The greater OB highlighted with the green and red boxes (candles) represent an orderblock that would exist in a higher tf, such as the 2-3hr. Should price reach the recent lows with the range then their is a good chance for price to continue to push lower to reach maybe the 4hr ob or even lower. I still hold the belief that price is aiming to go lower still maybe even to the 33000 QUARTER POINT, but this remains to be seen.
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