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DavidBelleFX
Aug 12, 2015 10:15 AM

Accumulation Bars and spotting orderblocks 

Dow Jones FXCM Dollar IndexFXCM

Description

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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