Sell stops absorbed on weekly timeframe to build liquidity for a bearish movement.
Diagonal trendline on both daily and h4 tf has been broken with 60-70% body of the candle. Price reacted to a bullish orderblock, possibly it could retest the breaker, trendline and swing low to go short.
The price is trading at a demand zone, but it`s not a fresh zone anymore. The market has created breaker to deliberately take out the stops below the yellow line, to go LONG, our confirmation should be that price closes above breaker and dips into it before it rallies up.
The market maker has absorbed liquidity (buy stops) below the bullish orderblock that price has traded through. To avoid trading straight from orderblock, wait for a price to trade through orderbreaker that was used to take out the stops below bullish orderblock and find support.
Market structure has been broken, simple put, higher lows/ resistance(R1,R2,R3) have been broken. It`s an early sign of a reversal of an uptrend, buyers are gaining momentum as the HLs get broken,the price has retraced to 79% of Fibonacci retracement. Everytime the market dips, it gives new opportunities to enter!
It`s a fresh demand zone/ bullish orderblock.
The 50% of a weekly orderblock has been bridged, possibly the price could dip into a daily orderblock before BUYING OPPORTUNITIES, atleast price should not bridge 50% of a daily orderblock if we want to buy.