An alternative situation - we have a very well-respected Trendline that has a high chance of getting manipulated. The green area marked above also has a lot of orders laying above so we could see those highs get taken out as well as mitigate a bit more of that Orderblock
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(From my previous post) This is a Daily Timeframe perspective.
The Market has just tested a strong Bearish Ordeblockwhich is supposed to hold the market down. We also made a deceleration, going from a bullish market which is now a bearish market.
The black lines that are drawn on the chart, is Sell Side Liquidity which are attractive targets where the majority of Orders lay in the market, The yellow areas are imbalances, where the market has moved too fast, creating inefficiency, so the market should fill a lot of these yellow areas. Another attractive area which the market wants to mitigate. The blue area marked up all the way down is a bullish Orderblock, which could be a potential reaction point.
I don't know how far the market will drop, but I do expect a lot of these areas to get filled.
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UPDATE: All 3 targets were reached! And notice how all levels were to some degree manipulated just as expected. If you took a trade with any of these targets, congratulations.
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New Liquidity kevel - 0.69175 We could see price break below and then back above to manipulate, or break this area and continue lower. Just DONT Buy on this level please, and if you do you better have a huge stop loss lol Good luck
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Oh and by the way, keep drawing out the trendline i drew. We have some new Touches. Extend the trendline from where I drew it and connect it to the high on 6th July & the high created on 14th July, This level still looks really attractive for the market to target and potentially manipulate it.
Also the Orderblock area that the market reacted in, could definitely still be a strong level IF the market were to come back to mitigate a bit more of it.
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Update from comment July 20th: Price reacted exactly like I described on this comment: " (New Liquidity kevel - 0.69175 We could see price break below and then back above to manipulate, or break this area and continue lower. Just DONT Buy on this level please, and if you do you better have a huge stop loss lol Good luck) "
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Update from comment 2 July 20th:
Everything was manipulated as I described in this comment as well. Every move the market made was pretty much all anticipated. If anyone capitalized, congrats!
" (Oh and by the way, keep drawing out the trendline i drew. We have some new Touches. Extend the trendline from where I drew it and connect it to the high on 6th July & the high created on 14th July, This level still looks really attractive for the market to target and potentially manipulate it.) "