FX.co ★ Jackroay | USD/CHF

USDCHFm M5 — FVG + Order Block Relationship and Complete Market Structure Analysis 1. FVG + Order Block Relationship According to my chart, USDCHFm on the M5 timeframe is showing a clear relationship between FVG, Order Block, liquidity and market structure. The visible price action begins from the upper region around 0.82499 and initially moves downward, creating a bearish sequence toward the lower 0.82420–0.82410 area. After reaching the lower region, price begins to stabilize and develops a base before producing a Strong Bullish Move. This bullish expansion then travels through several intermediate levels and creates multiple FVG — Fair Value Gap Zones. The chart also marks a major ORDER BLOCK (DEMAND) around the 0.82410–0.82420 region, while the major ORDER BLOCK (SUPPLY) is positioned around approximately 0.82490–0.82500. This creates a complete relationship between demand at the bottom, bullish momentum through the middle, and supply at the top. The FVG zones are located between these structural areas and represent the imbalance created during directional movement. I therefore read the chart as a market moving between important institutional-style zones rather than simply moving randomly between individual candles. The current price around 0.82433 is now closer to the lower side after rejection from the upper supply area. 2. Final Outlook — Bullish Structure at Major Supply The chart shows that the bullish structure developed after price established a base near the lower ORDER BLOCK (DEMAND). From approximately 0.82410–0.82420, price gradually started producing higher movements and eventually accelerated toward the 0.82450–0.82460 region. The bullish structure became more visible as price continued upward and created additional higher swing areas. Eventually, price reached approximately 0.82489–0.82500, which is directly inside or close to the marked ORDER BLOCK (SUPPLY). This is an important structural location because the bullish movement has reached a major opposing zone. I can see that the market did not immediately break through this supply. Instead, price produced rejection and then moved lower. Therefore, the chart currently contains a bullish structural leg followed by a bearish reaction from major supply. The bullish structure remains an important reference because it explains the previous upward expansion, but the immediate price action has turned bearish after the supply reaction. The market needs to demonstrate another structural recovery before the bullish continuation scenario becomes active again. For now, the upper supply remains the major area controlling the latest rejection. 3. Bearish Rejection Scenario — Supply Reaction The Bearish Rejection Scenario is clearly visible in the upper-right portion of my chart. Price repeatedly approached the 0.82479–0.82499 region and eventually produced a sharp upward spike toward approximately 0.82509. However, the market could not maintain that higher level. The following candles show rejection, followed by increasingly bearish movement. This reaction becomes particularly important because it occurred directly around the ORDER BLOCK (SUPPLY). After reaching the upper region, sellers pushed price down through approximately 0.82479, 0.82469, 0.82459 and eventually toward 0.82449 and 0.82439. The selling sequence then continued toward the current 0.82433 area. I would describe this as a supply reaction rather than assuming that the entire market structure has immediately become bearish. The key evidence is the location of the rejection and the subsequent bearish displacement. If price continues to create lower highs and lower lows from this region, the bearish reaction can develop further toward SSL and the lower FVG. However, if sellers lose momentum and price begins recovering the recently broken internal levels, the rejection may remain a retracement. The upper supply is therefore the origin of the current bearish pressure visible on the chart. 4. Bullish Continuation Scenario — BOS Above Supply The Bullish Continuation Scenario shown on my chart depends on a BOS Above Supply. The major supply zone is positioned around the 0.82490–0.82500 area, with the recent wick extending slightly above 0.82500 toward approximately 0.82509. Although price has already tested the upper region, the reaction shows that buyers were unable to maintain sustained acceptance above the supply zone. For a genuine continuation of the bullish structure, I would watch for price to return to this region and produce a decisive structural break rather than relying only on a temporary wick. The chart specifically marks BOS, so the structural break is more important than an isolated candle. If price can move through the supply boundary and maintain trading above it, the previous supply reaction would become less dominant in the immediate structure. A bullish continuation would also need to demonstrate momentum after the break rather than immediately falling back below the zone. I therefore see 0.82500 approximately as a major structural reference from my chart. Until that area is properly broken and accepted, the previous rejection remains relevant. The bullish scenario is consequently connected directly to BOS Above Supply, while the bearish scenario remains connected to continued rejection from this zone. 5. Current Price Action — SELL SIDE LIQUIDITY (SSL) The Current Price Action — SELL SIDE LIQUIDITY (SSL) marking is particularly important because price has moved sharply downward from the upper supply region toward the lower-right portion of the chart. The current visible price is around 0.82433, while the marked SSL area is positioned around the recent lower structure near approximately 0.82430–0.82435. The recent bearish candles show that sellers have been able to push price downward after the rejection from supply. However, the candles near the current area also show some reaction and hesitation. This means the market is approaching an area where liquidity can become important. If price moves below the SSL region with strong bearish candle closes, the next focus from my chart would naturally shift toward the lower FVG and ultimately the ORDER BLOCK (DEMAND). On the other hand, if price sweeps the SSL and quickly returns above it, the reaction could become important for a possible bullish recovery. I would therefore treat SSL as a liquidity reference rather than automatically calling it support. The way price reacts after interacting with this region will help determine whether the current bearish move continues or begins another structural recovery. 6. ORDER BLOCK (SUPPLY) — Major Selling Zone The ORDER BLOCK (SUPPLY) is the dominant upper zone on my chart and covers approximately the 0.82490–0.82500 region. Price entered this area after developing a strong bullish sequence from the lower demand region. Once price reached the supply zone, several candles showed rejection, including upper wicks and rapid movement away from the highest prices. The final upward spike reached approximately 0.82509, but the market quickly returned below 0.82500. This behavior makes the supply area highly relevant to the current M5 structure. The zone has effectively acted as the point where the previous bullish momentum encountered strong opposing pressure. I can see that repeated tests around 0.82479–0.82499 did not produce sustained upside continuation. Instead, the latest test resulted in a stronger bearish displacement. Therefore, whenever price approaches this zone again, the candle reaction will be important. A fresh rejection could maintain the bearish structure, while a confirmed BOS Above Supply would change the immediate interpretation. The supply zone is thus the principal upper boundary on this chart and provides the clearest reference for understanding the current bearish reaction.

7. STRONG BULLISH MOVE — Momentum Expansion The STRONG BULLISH MOVE — Momentum Expansion is visible around the middle section of the chart after price established the lower demand base. Before the expansion, the candles around 0.82425–0.82440 were relatively compressed and moved sideways with repeated small fluctuations. The market then produced stronger bullish candles, with price moving rapidly toward 0.82450 and subsequently toward 0.82460 and above. This transition from consolidation into directional movement is the key characteristic of the momentum expansion shown on the chart. The bullish candles created displacement and helped establish the upward structure that later reached the major supply zone. I also notice that the expansion produced areas of imbalance, which are marked as FVG on the chart. This makes the Strong Bullish Move directly connected with the FVG zones. The movement demonstrates that buyers were able to shift price away from the lower demand region and carry it toward the upper supply. However, momentum eventually weakened at the major supply area. The later bearish movement shows that strong momentum in one direction can be followed by an equally important reaction when price reaches a major opposing Order Block. 8. FVG — Fair Value Gap Zones The FVG — Fair Value Gap Zones are distributed through the chart and are especially visible around the bullish expansion. One FVG is located in the upper-left/middle region near approximately 0.82480–0.82490, while another FVG is visible around the 0.82460–0.82470 area. A further lower FVG appears around approximately 0.82425–0.82430. These zones provide useful references because they were created during directional price movement. The upper FVG is positioned relatively close to the major supply, while the lower FVG is closer to the current bearish retracement. I would therefore monitor how price interacts with each FVG rather than assuming that every gap must be completely filled. When price moves rapidly, an FVG can represent an area where price previously moved with imbalance. If the current bearish movement continues, the lower FVG becomes increasingly relevant because it lies between current price and the ORDER BLOCK (DEMAND). If price instead recovers, the intermediate FVG can become a reference for the bullish move toward the upper structure. The FVG zones on my chart therefore connect the individual candle movements with the broader market structure and help identify areas where price may react during future movement. 9. ORDER BLOCK (DEMAND) — Major Buying Zone The ORDER BLOCK (DEMAND) — Major Buying Zone is positioned at the lower portion of my chart, approximately around 0.82410–0.82420. This zone is important because it was followed by the transition from bearish movement into bullish expansion. Price initially declined toward this region and formed several small candles and lower wicks, showing that the downward movement was losing its previous strength. After establishing this base, price began moving upward and eventually produced the Strong Bullish Move. This makes the demand zone the origin or foundation of the visible bullish leg. If the current bearish retracement continues, this is one of the most important areas to watch. A reaction from demand would show that buyers are again defending the lower structural region. If price instead moves decisively through the demand zone, the bullish foundation would be weakened on this M5 chart. I would also compare the reaction at demand with the nearby lower FVG because the two zones are relatively close. A combination of FVG reaction and demand reaction would provide more structural information than looking at either marking independently. The demand zone is therefore the key lower boundary of the bullish structure shown in my chart. 10. MSS — Break of Structure The MSS — Break of Structure marking appears after the market transitions from the lower consolidation into a stronger upward movement. Before the MSS, price had been under bearish pressure and had moved from the upper region toward the lower 0.82410–0.82420 area. After establishing the lower base, price began to challenge previous internal swing levels. The MSS marking identifies the point where this previous sequence started changing. Following the MSS, the chart shows stronger bullish candles and increasing upward momentum. This makes the MSS an important bridge between the lower demand area and the later bullish expansion. I would not interpret MSS as an isolated buy signal; instead, it is part of the structural sequence. The following price action is what gives the MSS significance. After the break, price continued higher, created FVG areas and eventually reached the upper supply zone. The current bearish reaction from supply now creates another structural question: whether price will simply retrace into the previous bullish structure or develop a new bearish MSS. For that reason, I would watch the lower swing points carefully. A new bearish structural break would provide different information from the current rejection alone. 11. Liquidity and Internal Market Structure The internal market structure shows several repeated highs and lows across the M5 chart. After the initial decline, price created a lower base and then began forming higher swing points during the bullish expansion. Around the middle and right side of the chart, price repeatedly tested approximately 0.82449–0.82479 before eventually reaching the major supply area. These repeated tests created liquidity around the short-term highs and lows. The latest upward spike above the previous highs toward 0.82509 was followed by a strong reversal, showing how price can move through a higher level and then return quickly. After this rejection, the market started producing lower movements toward the SSL area. I therefore see a clear liquidity sequence: lower consolidation, bullish expansion, upper liquidity and supply interaction, followed by movement toward lower sell-side liquidity. The current price around 0.82433 is positioned close to this lower liquidity area. If SSL is swept and buyers respond strongly, the resulting reaction could become structurally important. If sellers continue below it, the lower FVG and demand area become the next visible references. 12. FVG + Order Block + MSS Relationship The complete chart becomes clearer when FVG, Order Block and MSS are considered together. The ORDER BLOCK (DEMAND) provides the lower structural base, MSS identifies the transition from the previous bearish sequence, and the STRONG BULLISH MOVE creates the displacement that leaves FVG zones behind. Price then travels upward through these imbalance areas and reaches the ORDER BLOCK (SUPPLY). At supply, the bullish sequence encounters rejection, producing the current bearish retracement toward SSL. This gives the chart a complete structural progression: Demand → MSS → Momentum Expansion → FVG → Supply → Rejection → SSL. I find this relationship more useful than analyzing individual candles because every marked concept has a role in the overall price movement. The lower demand explains where the bullish leg developed, MSS explains the structural transition, FVG identifies imbalance, supply explains the reversal, and SSL identifies the current liquidity objective. If price reaches the lower FVG and demand and reacts, the sequence could begin developing another bullish leg. If those lower zones fail, the structure would require reassessment because the original bullish foundation would be under pressure. 13. Bullish Recovery From FVG and Demand A bullish recovery scenario can develop if price reaches the lower FVG or ORDER BLOCK (DEMAND) and produces a meaningful bullish reaction. Current price around 0.82433 is already moving toward the lower part of the structure after the rejection from approximately 0.82500. The lower FVG around the 0.82425–0.82430 region is therefore an important intermediate area before the major demand zone around 0.82410–0.82420. If sellers push price into these areas but cannot maintain bearish closes, I would look for a change in short-term structure. A bullish reaction from the FVG followed by a move back above nearby internal highs could indicate that buyers are attempting to rebuild momentum. However, the first recovery would still face resistance from the intermediate structure and eventually the major ORDER BLOCK (SUPPLY). The bullish continuation scenario would become structurally stronger only if price can recover and eventually achieve BOS Above Supply. Until that happens, a bullish reaction from demand should be treated as a recovery within the visible chart structure rather than automatically assuming a complete continuation. 14. Final Outlook From the Complete USDCHFm M5 Chart My final reading of this USDCHFm M5 chart is based entirely on the visible candle structure and the marked FVG, Order Block, MSS, BOS and SSL areas. Price first moved downward from the upper region around 0.82499 and eventually established a base near the ORDER BLOCK (DEMAND) around 0.82410–0.82420. From there, the chart developed an MSS followed by a STRONG BULLISH MOVE — Momentum Expansion, creating multiple FVG zones as price climbed toward the upper ORDER BLOCK (SUPPLY). The bullish movement eventually reached approximately 0.82490–0.82500 and briefly spiked toward 0.82509, but the market rejected that area strongly. The latest sequence is therefore a bearish reaction from major supply, with price now around 0.82433 and approaching SELL SIDE LIQUIDITY (SSL). The two principal scenarios shown by my chart are straightforward structurally: continued bearish movement would focus attention on SSL, the lower FVG and ultimately the ORDER BLOCK (DEMAND), while a bullish recovery would require a clear reaction from those lower areas followed by renewed structural strength. For the upper-side bullish continuation scenario, the key confirmation remains BOS Above Supply. Overall, the chart is currently positioned between the upper supply rejection and the lower demand/liquidity structure, so the next reaction around SSL and the lower FVG will be important for determining which structural sequence develops next.