🕛 TOPDOWN Analysis - Navigating Crucial Support Levels
Overview: The monthly perspective reveals a historical support level established in March 2020, where strong buying interest persists. Recent monthly candles, with wicks and a liquidity sweep, suggest a potential consolidation phase. On the weekly chart, a descending triangle formation is evident, indicating a period of consolidation. However, this doesn't imply missing swing opportunities. Transitioning to the daily chart, the bearish swing structure is clear, but with potential for bullish reversal.
😇 7 Dimension Analysis Time Frame: Daily
1️⃣ Swing Structure: Bearish 🟢 Structure Behavior/BoS: Break of Structure 🟢 Swing Move: Impulsive; inducement completed. 🟢 Pull Back: 1st pullback underway, possibly deep. 🟢 Internal Structure: Sideways; confluence across multiple time frames leading to confusion.
🟢 Resistance/Support Areas: Complex interplay with resistance, supply, distribution, and internal trendlines. Triangle breakout can guide targets.
Traps: Internal trendline breakout considerations for potential false moves.
2️⃣ Pattern 🟢 CHART PATTERNS
Reversal Presence of rounding patterns and a double bottom. Continuation Descending Triangle; awaiting breakout confirmation. 🟢 CANDLE PATTERNS Notable Observations:
Bullish candles dominating the area. Blended combo of three candles signals bullish momentum. 3️⃣ Volume: Bullish volume dominance based on Volume Spread Analysis.
☑️ Final Comments: Wait for breakout confirmation. 💡 Decision: Exercise patience.
🚀 Entry: Await breakout confirmation ✋ Stop Loss: 🎯 Take Profit: 2nd Exit if Internal Structure Changes, 3rd Trendline Breakout or FOMO. 😊 Risk to Reward Ratio: 🕛 Expected Duration:
SUMMARY: The analysis highlights a crucial support level from March 2020, emphasizing potential consolidation. The weekly descending triangle suggests a pause in the trend, leading to a more detailed daily analysis. The complex interplay of support and resistance areas demands caution, with a focus on potential breakout scenarios. Patience is key, with detailed considerations of volume, momentum, and candle patterns in this nuanced market situation.
การซื้อขายยังคงดำเนินอยู่
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Now that the market has breached the trigger area, our next move is to await a valid breakout closure. If the price confirms a legitimate breakout by closing outside, we'll then proceed to enter the long opportunity." also will share entry and exit levels
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With the price providing a confirmed breakout, the entry trigger has been activated. We can now enter the trade and hold until reaching the next target point. Enjoy the ride!"
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The price indicates a reversal with a substantial momentum candle, coupled with a trendline fakeout. There's a high probability that this entry might trigger our stop loss. In the event of a stop loss hit, we can promptly initiate a reverse position."
ปิดการเทรด: ถึงเป้าหมายการตัดขาดทุน
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with a fake out stop is reeached now we can open a reverse trade 0.5853 stoplose and 0.5407 tp 1:4 RR
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As we discussed, we opened a reverse trade when our stop-loss was reached, and bearish momentum is now gaining. We will hold this position until our reverse target is reached."
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"Although the last Tuesday and Friday candles closed on the bullish side, the internal structure remains valid and intact. We will maintain our position until the target is reached."
การซื้อขายยังคงดำเนินอยู่
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"As you recall, we took a reversal position at this point. Currently, our position is in profit and moving towards our downside target. Hold it."