EURUSD Intraday Multi-timeframe Analysis
Dynamic trend: Turned down
Background: W1 – weak; D1 – weak
In point 1 there was a “No Result from Effort” bar. It’s a combination of two bars, where there is an initial rally without a follow-up. Relatively low volume indicates that there were a small number of buyers.
In point 2 there was an “Up-Thrust” with a very wide spread and very high volume. The next down-bar confirmed bearish interest of the Smart Money.
In point 3 there was “No Demand” with a very low volume and very narrow spreads. Additional factors of weakness of the market was to be found in the lowering market. This was an excellent point for sell.
On TF M5 in point 1 there was “No Demand ” and was a great place for sell.
Consider only sell if the prices approach to the level of 1.12 and «No Demand» bar will appear. Also I’ll sell when the price breakdown the level 1.1145 and «No Demand» bar will appear.
You can search «No Demand» and «No Supply» on the lower TF.