EURUSD - 23 May 2022
Aggressive up move to take out the BSL from the left (ERL) and retrace with strong bearish momentum (V-shape recovery), a sign of Liquidation.
Wyckoff Confluence: Impulsive move after ascending nature, a sign of buying climax, and price is retracing now, no convincing follow through, this could be a swept.
Let see if the supply hold, wait for a respect for short. If we have evidence proving the bearish intention such as supply is holding and demand is failing, we may look for short and aim for the weak low.
Wyckoff Confluence: Impulsive move after ascending nature, a sign of buying climax, and price is retracing now, no convincing follow through, this could be a swept.
Let see if the supply hold, wait for a respect for short. If we have evidence proving the bearish intention such as supply is holding and demand is failing, we may look for short and aim for the weak low.
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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.