Its a busy chart here. But try to focus your attention to the vertical axis at the session dividing lines. Look at the volume that is at these lines. This is a critical area to see and understand because its a "fixed" piece of information. It's predictable. The lowest volume of the day is ALWAYS at this location.
Now look at the current price level and where it sits... at the session divider... This is a low pressure area. Price is always drawn to the areas of low concentration.
What this area shows us at the moment is that there s not a large presence of sellers here... But neither are buyers. SInce the momentum is to the long side, I am waiting for price to come down until it hits volume/buyers. If it does come down to find buyers, it will likely be drawn right through these low pressure areas with ease.
The most ideal places to look for re- accumulation are at support and previous order block test areas.... which is a conversation for another day.
From here you can set your alerts and look at other pairs. The volume usually picks up around the London session into the NY session.
Now look at the current price level and where it sits... at the session divider... This is a low pressure area. Price is always drawn to the areas of low concentration.
What this area shows us at the moment is that there s not a large presence of sellers here... But neither are buyers. SInce the momentum is to the long side, I am waiting for price to come down until it hits volume/buyers. If it does come down to find buyers, it will likely be drawn right through these low pressure areas with ease.
The most ideal places to look for re- accumulation are at support and previous order block test areas.... which is a conversation for another day.
From here you can set your alerts and look at other pairs. The volume usually picks up around the London session into the NY session.