DXY - 8 December 2022

8 Ara 2022

Thursday daily candle expansion
If price want to continue higher, it will probably wick through the low of last 2 daily candle as EQLs/SSL, and retrace immediately when it mitigates the OB.

At the end, the daily candle will looks like a pinbar with a longer wick to downside.

8 Ara 2022

Not

Look at this 1H candle, price put in a new LL without going back to the 1H IMB when it has a chance to do so, this is a sign that algorithm is controlling the price to go down atm.

Why? Where is the price going to? Think in terms of LQ. In this case, the EQLs from the left will be the target. That's the objective for price to go down.

If price take out the EQLs and mitigates the daily OB and go back up to the 1H IMB, that will become a bullish sign to me.