Price retraced to the order block circled in yellow. if you scale down to lower timeframes, you will see that this order block was a consolidation. Price has therefore come down to rebalance.
Buy order block or Sell to Buy- when a bearish candle is found between two bullish candles and the second bullish candle is engulfing
Sell order block or buy to Sell - when a bullish candle is found between two bearish candles but the second bearish candle is engulfing
Buy order block or Sell to Buy- when a bearish candle is found between two bullish candles and the second bullish candle is engulfing
Sell order block or buy to Sell - when a bullish candle is found between two bearish candles but the second bearish candle is engulfing
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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.