EUR/USD: Accumulation, Manipulation, Distribution
Most of you are probably familiar with the Accumulation&Distribution phase that the price goes through in the markets. It's no wonder that the price movement repeats itself historically looking.
Closely observing the H4 timeframe chart of EUR/USD, we can clearly identify that the price is currently ranging within the borders of the illustrated sideways-moving range. In other terms, we can call it a consolidation phase or an accumulation phase. After an accumulation/consolidation phase, the distribution phase must be in motion. If we take a look at the historical price movement that took place a few weeks ago, we can see that after ranging between the barriers of the rectangular box for a while and spiking above the resistance part to grab liquidity and take out early entrants, impulsive moves had resumed and drove the price all the way down.
We have a very similar situation at the moment. The price is ranging, spikes above the upper barrier of the box have been able to grab some liquidity, and now we are patiently waiting for the distribution phase to kick in.
Of course, everything has its time, so we are gonna be completely patient and keep speculating the situation.
Happy new trading week, TradingView family!
Closely observing the H4 timeframe chart of EUR/USD, we can clearly identify that the price is currently ranging within the borders of the illustrated sideways-moving range. In other terms, we can call it a consolidation phase or an accumulation phase. After an accumulation/consolidation phase, the distribution phase must be in motion. If we take a look at the historical price movement that took place a few weeks ago, we can see that after ranging between the barriers of the rectangular box for a while and spiking above the resistance part to grab liquidity and take out early entrants, impulsive moves had resumed and drove the price all the way down.
We have a very similar situation at the moment. The price is ranging, spikes above the upper barrier of the box have been able to grab some liquidity, and now we are patiently waiting for the distribution phase to kick in.
Of course, everything has its time, so we are gonna be completely patient and keep speculating the situation.
Happy new trading week, TradingView family!