C98 - Order Blocks C98 / USDT
To be clear, this is not a bullish structure. However if looking to enter a long, my strategy would be to enter in the lower green order block at support as we've tested it time and time again (no reason to enter in the mid-channel). Resistance block above in red that you could target for a long, otherwise boring chop in-between for now with less and less volatility.
Order blocks are a great way to identify areas of supply or demand, easily trapping retail traders in liquidity. Identify these more often and use them as areas for S/R and you may be able to gain an edge on other traders or more importantly, institutional players. Order blocks, simply put, are where larger players in the market are either entering or exiting positions. Large players being institutions, banks, or whales. They are frequently used in forex markets by banks and often times become trapping points for retail investors who may not understand what or where they are and get chewed up by the big chip players that have analysts and traders eating up liquidity or using retail as exit liquidity.
If you as a trader can better identify these blocks and levels, it will give you an edge against not only other traders, but against institutional participation.
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