Mar 17 (edited) • 🔴Recordings
17th March - Playing out as expected currently...
That 5000 level is acting like a magnet right now, and there’s a reason for that. It’s not just a “level” in the traditional sense, it’s a liquidity zone.
Whenever you get a big, clean number like 5000, a lot of orders naturally build up around it.
You’ve got stop losses sitting just below it from buyers, you’ve got breakout sellers waiting for a break, and you’ve also got limit buyers trying to catch a bounce.
So what happens is price keeps getting pulled back into that area because that’s where the liquidity is. The market is essentially being drawn there to facilitate orders.
Now if you look at the structure, you can see this clearly.
Price sold off aggressively into that zone, which tells us there was a strong push to take liquidity. Then instead of continuing straight down, we start to see choppy behaviour and multiple returns back toward that same area.
That’s not random. That’s the market working through orders.
Every time price comes back into 5000, it’s testing one of two things.
Either there are still buyers there absorbing selling pressure, or the market is preparing to remove those buyers before moving lower.
And this is where the behaviour matters more than the level itself.
If sellers were fully in control, we would expect a clean break and continuation. But instead, what we’re seeing is rejection and rotation. Price dips into the area, gets bought, pushes away, then comes back again.
That tells you there is still demand sitting there.
But at the same time, you’ll notice something else. The bounces are not particularly strong. Price is making its way back up, but it’s doing it in a fairly controlled, almost grinding way.
That’s important.
It suggests that while buyers are active, they’re not aggressively taking control. And that creates this back-and-forth behaviour where price keeps getting drawn back into the same zone.
This is what people often describe as “price being stuck,” but what’s really happening is the market is building and clearing liquidity.
Think of it like this. The market is asking a question over and over again:
Are there still buyers here?
Each time price returns, more orders get filled, more stops get triggered, and eventually one side runs out.
So the key thing I’m watching here is not whether price touches 5000 again, because it probably will. The key is what happens after.
If price starts breaking below and holding below, with small pullbacks and continued pressure, that tells us the buyers have been exhausted and the liquidity has been cleared. That’s when you typically see continuation lower.
But if price keeps dipping below and snapping back quickly, that’s a sign that sellers are getting trapped and buyers are still defending the area.
Right now, we’re in that in-between phase.
The level is acting as a magnet because that’s where the orders are, and the market is simply doing its job of finding and filling that liquidity.
So instead of thinking “support or break,” it’s better to think:
Is the market still collecting liquidity here, or has it finished?
Because once that process is done, the move that follows is usually much cleaner.
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17th March - Playing out as expected currently...
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