Slow and steady wins the race and it can be said that for the past 2 weeks, Euro has been in a buy programme, creating minimal fair value gaps before booking @ the weekly bearish order block. But on closer inspection, when Euro retraced up into the weekly order block, the median threshold @ 1.08586 failed to break nor test which gives me the suggestion that the nearby BISI is a point of reference if manipulation was to occur before continuation into the median threshold weekly order block.
It is to note that Fridays trading wiped out both intraday sellstops and buystops before closing bearish, below the open of Thursdays candle and when you compare that with Cable, buystops and sellstops were swiped but the difference is the candle body of Fridays Price Action closed 50% of the previous days range which signifies strength in Cable compared to Euro.
In essence, 1.07590 would require some form of downside manipulation to accommodate for smart money capitalising from weak hands.
It is to note that Fridays trading wiped out both intraday sellstops and buystops before closing bearish, below the open of Thursdays candle and when you compare that with Cable, buystops and sellstops were swiped but the difference is the candle body of Fridays Price Action closed 50% of the previous days range which signifies strength in Cable compared to Euro.
In essence, 1.07590 would require some form of downside manipulation to accommodate for smart money capitalising from weak hands.
Trade closed: target reached:
I have been calling for the median threshold throughout the whole of last week and I am pleased to mention that 1.08586 has been delivered!
