#replay 97 - Identifying Orderblock

Por p3nchan

Atualizado

A monthly OB identified on the chart back in March 2020. We will refine it in lower time frame.

Nota

Price validated the orderblock back in April.

Nota

Switch to weekly chart.
We would love to see a violation over previous bar's high, and then refine it as a bullish orderblock.

Nota

However, the reaction after it didn't play well. We would love to see a breakthrough of 2 - 3x of the previous down candle's range between O and C. So we'll seek more opportunities for another bar or in another month.

Nota

Let's firstly examine another month. As the figure shows, the monthly orderblock was not cross any support level. Thus, it's not a orderblock by definition.

Nota

So back to past month we examined before. We can see that a potential orderblock in lower time frame according to this chart even though it's not validated. We'll switch to LTF to check further details.

Nota

In lower time frame, we see that a chart that successfully clear the past down candle and is 2 - 3x higher than it. Also it was running into a monthly orderblock to seek liquidity on a monthly chart.

p3nchan

Também em:

Aviso legal

As informações e publicações não devem ser e não constituem conselhos ou recomendações financeiras, de investimento, de negociação ou de qualquer outro tipo, fornecidas ou endossadas pela TradingView. Leia mais em Termos de uso.