That pink line sitting around 0.6567 is a clear sell-side liquidity pool where institutional stop losses have been engineered and resting below that level you have a massive amount of buy stops that smart money will look to raid as a liquidity grab. The price action from October through January shows a classic displacement off that institutional level followed by a fair value gap expansion to the upside which confirms that this is a key order block origin point. Looking forward that arrow suggests smart money is eyeing a return to that liquidity void to sweep the equal lows and tap into the breaker block before any potential reversal back into the premium range.
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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.