Here we have a textbook example of consolidation aka sideways trending. This is made clear by the triangle pattern before price broke out this morning. Following that we've had the break of a swing low (by that I mean a candle that reached/wicked lower than it's neighbours on either side).
The spike that broke out of the sideways trend to the upside triggered institutional buy stops, trapping liquidity in bullish positions. I suspect that after breaking market structure (point c) the market is now ready to drop. You can expect a return the candle that started the move.
The spike that broke out of the sideways trend to the upside triggered institutional buy stops, trapping liquidity in bullish positions. I suspect that after breaking market structure (point c) the market is now ready to drop. You can expect a return the candle that started the move.
Order avbruten:
I'm closing this pending as it seems like the market had no intention of returning to the original order block highlighted in purple. It appears to have broken a demand area, re-tested the other side and dropped from there