So we got the rejection from the 90m Order Block, just as planned. Even though money was made from the trade, the drop did not fall as hard as I expected. I was looking for the Bears to push price down to the Naked Point Of Control sitting right below the Macro POC.
Maybe the Bears are willing to let the Bulls retrace price a bit before they knock it back down again.
The 90m Order Block still has a chance of holding because there is now a fresh nPOC and a fresh Daily Level sitting right below it. That could create some strong resistance for the Bears.
But let’s drop down to the 1H Time Frame and see if we can find a fresh Order Block the Bears left behind. I mean, I like to recycle and all, but a fresh Order Block usually gives us a better shot than yesterday’s leftovers.