#replay 97 - Identifying Orderblock

Oleh p3nchan

Diupdate

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

Catatan

Price validated the orderblock back in April.

Catatan

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

Catatan

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.

Catatan

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.

Catatan

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.

Catatan

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

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