The pair is rejecting a major supply zone, signaling potential downside movement. A liquidity sweep paired with imbalance zone may have fueled this reversal, and price is now testing lower levels.
📊 Key Observations:
✔ Supply Zone Rejection: Price reacted strongly from the 151.200–151.500 zone.
✔ Liquidity Grab ($$$): Stops above the highs may have been taken before the sell-off.
✔ Imbalance (IMB) & Demand Zone: The 147.600–147.800 area remains untested and could act as a target.
🔎 Trade Idea: A short position could be considered upon a retracement into the smaller supply zone (150.600–150.900), targeting the demand zone below.
📊 Key Observations:
✔ Supply Zone Rejection: Price reacted strongly from the 151.200–151.500 zone.
✔ Liquidity Grab ($$$): Stops above the highs may have been taken before the sell-off.
✔ Imbalance (IMB) & Demand Zone: The 147.600–147.800 area remains untested and could act as a target.
🔎 Trade Idea: A short position could be considered upon a retracement into the smaller supply zone (150.600–150.900), targeting the demand zone below.
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.
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.