First, about the blue circle. It has been puzzling from the beginning. The market maker was responsible for the gap up. But the blue thing that would be a crack and square is completely out of character for an MM, as they do lift and square when buying. The conclusion is that this was active trading, new money.

Now, with the mindset of market makers reacting and squaring, the initiating moves had to be made by non-MM players. The purple fractals seem to have one thing in common: they utilize those market maker lines that were long squaring prints (coral-colored lines) and they hold their palms out 4-12 pips lower. The traders seem to ignore the green, short squaring lines.

The other conclusion is that a top is missing. The squaring at the recent top made no impression on the pendulum, it was a divergent close to a leg. The MM stronghold would see an overrun since the oversold level was just purchased.

Particularly because of the head and shoulders looks.

If the traders are still interested, they should buy below the 1.0405 line (minus 4-12 pips zone).

The aim could be as high as 1.0528 and with the consolidation mean being moved higher a little extra on top of that.

The bottoming sequence was a W3C getting a Support beat after a new consolidation.