π TOPDOWN Analysis - Monthly Bullish Structure, Weekly Bearish Inducement
Overview: The monthly market structure maintains a bullish stance, holding key supports. On the weekly chart, a valid low was established, accompanied by a strong bearish inducement. While a demand flip occurred, the overall trend remains bearish, marked by a record session count and inside candle price action. The daily time frame reveals a bearish swing structure with impulsive moves, indicating potential further downside.
π 7 Dimension Analysis
Time Frame: Daily
1οΈβ£ Swing Structure: Bearish
π’ Structure Behavior: ChoCh
π’ Swing Move: Impulsive
π’ Inducement: Suggests potential further downward movement.
π’ Pull Back: No significant pullback observed.
π’ Resistance Zones: Market encounters resistance at every supply zone post- ChoCh, forming a bearish build-up, indicating potential future downside. No traps observed.
2οΈβ£ Pattern
π’ CHART PATTERNS
Continuation
Symmetric Triangle
Shakeout Continuation
π’ CANDLE PATTERNS
Notable Observations:
Momentum candles with Fake out/FOMO.
Tweezer at the internal move top.
Inside candles in the last three days.
3οΈβ£ Volume: Significant volumes observed at the beginning of the move.
4οΈβ£ Momentum RSI:
π’ RSI Below 40: Indicates a super bearish zone with high selling pressure.
π’ Range Shift: Shifted sideways to bearish, suggesting ongoing bearish activity.
π’ Divergence: Hidden bearish divergence present.
5οΈβ£ Volatility Bollinger Bands:
π’ Middle Band Resistance: Strong rejection observed.
π’ Head fake: At the top of the move, indicating a potential deep bearish move.
βοΈ Entry Time Frame: H1
β Entry TF Structure: Bearish
βοΈ Current Move: Impulsive Bearish
β Support Resistance Base: Takes resistance at a significant level.
βοΈ Candles Behavior: Extremely volatile bearish momentum.
βοΈ Trend Line Breakout: Confirmed.
βοΈ Final Comments: Sell at the open.
π‘ Decision: Sell
π Entry: 75.22
β Stop Loss: 78.04
π― Take Profit: 68.07, 2nd Exit if Internal Structure Changes, 3rd Exit on a trendline breakout or FOMO.
π Risk to Reward Ratio: 1:3.5
π Expected Duration: 7 days
SUMMARY: The analysis reveals a monthly bullish structure but a weekly bearish inducement. The daily swing structure is bearish with an ongoing impulsive bearish move. Recognized patterns include a symmetric triangle and shakeout continuation. Critical levels, candle patterns, and trendline breakouts were considered for the entry decision. The suggestion is to sell at the open, with detailed entry, stop-loss, and take-profit levels, presenting a risk-to-reward ratio of 1:3.5, and an expected duration of 7 days.
Overview: The monthly market structure maintains a bullish stance, holding key supports. On the weekly chart, a valid low was established, accompanied by a strong bearish inducement. While a demand flip occurred, the overall trend remains bearish, marked by a record session count and inside candle price action. The daily time frame reveals a bearish swing structure with impulsive moves, indicating potential further downside.
π 7 Dimension Analysis
Time Frame: Daily
1οΈβ£ Swing Structure: Bearish
π’ Structure Behavior: ChoCh
π’ Swing Move: Impulsive
π’ Inducement: Suggests potential further downward movement.
π’ Pull Back: No significant pullback observed.
π’ Resistance Zones: Market encounters resistance at every supply zone post- ChoCh, forming a bearish build-up, indicating potential future downside. No traps observed.
2οΈβ£ Pattern
π’ CHART PATTERNS
Continuation
Symmetric Triangle
Shakeout Continuation
π’ CANDLE PATTERNS
Notable Observations:
Momentum candles with Fake out/FOMO.
Tweezer at the internal move top.
Inside candles in the last three days.
3οΈβ£ Volume: Significant volumes observed at the beginning of the move.
4οΈβ£ Momentum RSI:
π’ RSI Below 40: Indicates a super bearish zone with high selling pressure.
π’ Range Shift: Shifted sideways to bearish, suggesting ongoing bearish activity.
π’ Divergence: Hidden bearish divergence present.
5οΈβ£ Volatility Bollinger Bands:
π’ Middle Band Resistance: Strong rejection observed.
π’ Head fake: At the top of the move, indicating a potential deep bearish move.
βοΈ Entry Time Frame: H1
β Entry TF Structure: Bearish
βοΈ Current Move: Impulsive Bearish
β Support Resistance Base: Takes resistance at a significant level.
βοΈ Candles Behavior: Extremely volatile bearish momentum.
βοΈ Trend Line Breakout: Confirmed.
βοΈ Final Comments: Sell at the open.
π‘ Decision: Sell
π Entry: 75.22
β Stop Loss: 78.04
π― Take Profit: 68.07, 2nd Exit if Internal Structure Changes, 3rd Exit on a trendline breakout or FOMO.
π Risk to Reward Ratio: 1:3.5
π Expected Duration: 7 days
SUMMARY: The analysis reveals a monthly bullish structure but a weekly bearish inducement. The daily swing structure is bearish with an ongoing impulsive bearish move. Recognized patterns include a symmetric triangle and shakeout continuation. Critical levels, candle patterns, and trendline breakouts were considered for the entry decision. The suggestion is to sell at the open, with detailed entry, stop-loss, and take-profit levels, presenting a risk-to-reward ratio of 1:3.5, and an expected duration of 7 days.
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