Immediately after mitigation, the market created a distribution phase which spiked out to collect the liquidity and swiftly broke out of the phase accordingly. The break out made a pullback to complete the chart pattern and aggressively reduced to mitigate the internal demand zone. This mitigation pushed up to the fair value gap which is now blocking the price. From this rejection, price is more likely to fall and violate the fair value gap. Should the market go according to this setup, then it is going to be a long buying opportunity…
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.