Top-down ICT - with a order block from the hourly chart here that I'd like to see act as support.
Basic bear trap on a larger scale that would ultimately be a solid retracement from higher timeframes.
-bulls have been forced to sell.
-bears are/were making money.
-retracement/pullback traders sell as price comes back up,
resulting in the least amount of buyers in the market and price can move higher again.
Basic bear trap on a larger scale that would ultimately be a solid retracement from higher timeframes.
-bulls have been forced to sell.
-bears are/were making money.
-retracement/pullback traders sell as price comes back up,
resulting in the least amount of buyers in the market and price can move higher again.
Note
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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.