After a huge impulsive move to the upside we saw a corrective wave which had broken market structure formulating our bias for some short term sells. Before selling off the market had taken out liquidity above the equal highs and had then sold off.
An unmitigated area of supply was left behind before the sell off , price tends to gravitate towards these areas of supply before selling off.
If market conditions remain constant we may see a sell setup of 130 pips.
An unmitigated area of supply was left behind before the sell off , price tends to gravitate towards these areas of supply before selling off.
If market conditions remain constant we may see a sell setup of 130 pips.