This is a perfect example of 2-step manipulation which i explain to my members. We have 2 liquidity purges and I would now expect some downside momentum to kick in.
As shown in the related idea below, the liquidity purge that we expected has now completed, this opens up the possibilities of a potential sell position. I will be looking for a substantial crossover of the structure before I consider my sell, my SL will be placed at the SFL level marked.
Sentiment - 52% Long
The structure has shifted on USDCAD which is a good sign that a bullish move may be round the corner. I would like to see a further push down into the second level of structure to wipe out the break and restest buyers. Once this is out of the way and we see signs of rejection, we can look to get involved in a buy position as illustrated.
