DavidBelleFX

Accumulation Bars and spotting orderblocks

FX:USDOLLAR   Dow Jones FXCM Dollar Index
Note the grey rectangle . This is just something I wanted to bring up because it came about when I was looking at this USDOLLAR             chart. Previously we had a bullish candle into a down move (on the left of the chart). Note that price on the candle where the arrow points is exactly where the bullish accumulation candle opened previously. This means that there were still a few buyers at that level where that previous candle was (or at least some people wanting to buy at that level). Now note the pink candle. This is a 4H bullish mitigation orderblock, where price has previously been bearish into this level, broken through and has come back to this level to be bullish again.
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