USDCAD - everything is on the pictures. I see a lot of liquidity on both sides of the consolidation, but long term price should go down, tap the demand and go up to fill the supply.
Finished the week with this nice trade.
Demand orderblock using wyckoff. Consolidation and then a fakeout. I was waiting for price to make a retest, it formed an engulfing which on lower timeframe was another orderblock, then it retested it and took the liquidity created by the big bearish m30 candle.
Maybe too late now, but EG made a great reaction to the orderblock above. It created another orderblock while taking liquidity from early sellers. I will be looking for a retest of the orderblock.
GBPAUD has a very significant liquidity level above. I expect price to grab liquidity while making an OrderBlock. Then, after taking orders from the OB, price can continue down to grab the liquidity from the downside. No bullish orderblocks exist to stop the price from doing that imo.
On h4 we can see a clear supply level. On a daily we are in a demand and trying to push higher, still corrections are possible as shown in this picture. I expect price to come to the supply zone, make a reaction and fill the imbalance below.
