We can see that at the last zone of resistance price started showing bearish tendencies which attracted a lot of retail traders to step into the market with an attempt to push price down. Then a large Institutional candle was formed which trapped sellers into the market and took price above the level of resistance to grab the liquidity (STOP LOSSES) there and then the Large institutions saw this as an opportunity to sell at a better price and sold.As a result of the retail traders being stopped out for a sell last time this may encourage them to have a buy Bias on this pair and most likely have their Stop Losses at the equal lows which may now be targeted. I expect price now to go short from the 1hr OB and collect liquidity at the zones below.
-Good luck!
-Trading is a game of probabilities, manage risk to resume playing following day.
- For more setups/ Trading gems check out my ig page at @Tradelikeo
-This is a speculative setup, not investment advice.
-Good luck!
-Trading is a game of probabilities, manage risk to resume playing following day.
- For more setups/ Trading gems check out my ig page at @Tradelikeo
-This is a speculative setup, not investment advice.