🔆MULTI-TIME FRAME TOP-DOWN ANALYSIS OVERVIEW☀️
1:✨Eagle eye: A completely bearish trend is in place. The last low was created in 2001, followed by a CHOCH (Correction of Higher Chance) that occurred in 2011. The market then entered a correction phase and formed a valid lowest level in 2020 with a big hammer and heavy volume. This indicates that the market may have formed a higher low and could potentially continue its bullish journey. Currently, the market is making an inside hammer move and coming down for a liquidity grab. Price has reached an extreme level, and if we closely observe, we'll notice that each candle has lower-side wicks.
2:📆Monthly: Despite the overall bearish trend, there is a valid low formed, and at that low point, there is a significant volume which indicates a strong buying area. If we look at the closing of November 2022, there is a big doji candle followed by big bullish momentum moves. The current month's candle also shows a similar character.
3:📅Weekly: A triangle pattern is forming, and it has almost narrowed down according to the timeframe or the triangle's nature. If we check the ratio of bullish and bearish candles from the last low to the current candle, we can clearly observe powerful bulls in control. The internal structure forms a bearish CHOCH, but it immediately creates a fakeout, turning the bearish CHOCH into a bullish pattern. Take this into consideration.
4:🕛Daily: A very strong CHOCH has already occurred, and now the price is making a corrective move after the CHOCH. At an interesting point, we can observe significant volume before the point, indicating profit booking. Following this, there is a classic doji candle and the current big bullish momentum candle that signals a long position entry.
😇7 Dimension analysis
🟢 analysis time frame: Daily
5: 1 Price Structure: Bullish CHOCH
6: 2 Pattern Candle Chart: Doji and momentum candle
7: 3 Volume: Execution volume before 3 days
8: 4 Momentum UNCONVENTIONAL RSI: Shifting from a bearish range to sideways, indicating strength on the upside. RSI holding above the 40 level signifies strength in the upside move.
9: 5 Volatility measure Bollinger bands: After a volatile move, the price is currently in a calm mood. The last squeeze breakout formed a headfake formation where the price initially went down and then reversed, leading to opposite price moves.
10: 6 Strength ADX: Sideways movement
11: 7 Sentiment ROC: AUD is stronger than USD on the scoreboard.
✔️ Entry Time Frame: Daily
12: Entry TF Structure: Bullish CHOCH
13: Entry Move: Impulsive
14: Support Resistance Base: Support at Fibonacci Validation Zone (FVG) and order block (OB)
15: FIB: Trigger event activated
☑️ Final comments: Buy right now.
16: 💡Decision: Long
17: 🚀Entry: 0.6700
18: ✋Stop Loss: 0.6630
19: 🎯Take Profit: 0.6970
20: 😊Risk to Reward Ratio: 1:3
🕛 Expected Duration: 15 days
1:✨Eagle eye: A completely bearish trend is in place. The last low was created in 2001, followed by a CHOCH (Correction of Higher Chance) that occurred in 2011. The market then entered a correction phase and formed a valid lowest level in 2020 with a big hammer and heavy volume. This indicates that the market may have formed a higher low and could potentially continue its bullish journey. Currently, the market is making an inside hammer move and coming down for a liquidity grab. Price has reached an extreme level, and if we closely observe, we'll notice that each candle has lower-side wicks.
2:📆Monthly: Despite the overall bearish trend, there is a valid low formed, and at that low point, there is a significant volume which indicates a strong buying area. If we look at the closing of November 2022, there is a big doji candle followed by big bullish momentum moves. The current month's candle also shows a similar character.
3:📅Weekly: A triangle pattern is forming, and it has almost narrowed down according to the timeframe or the triangle's nature. If we check the ratio of bullish and bearish candles from the last low to the current candle, we can clearly observe powerful bulls in control. The internal structure forms a bearish CHOCH, but it immediately creates a fakeout, turning the bearish CHOCH into a bullish pattern. Take this into consideration.
4:🕛Daily: A very strong CHOCH has already occurred, and now the price is making a corrective move after the CHOCH. At an interesting point, we can observe significant volume before the point, indicating profit booking. Following this, there is a classic doji candle and the current big bullish momentum candle that signals a long position entry.
😇7 Dimension analysis
🟢 analysis time frame: Daily
5: 1 Price Structure: Bullish CHOCH
6: 2 Pattern Candle Chart: Doji and momentum candle
7: 3 Volume: Execution volume before 3 days
8: 4 Momentum UNCONVENTIONAL RSI: Shifting from a bearish range to sideways, indicating strength on the upside. RSI holding above the 40 level signifies strength in the upside move.
9: 5 Volatility measure Bollinger bands: After a volatile move, the price is currently in a calm mood. The last squeeze breakout formed a headfake formation where the price initially went down and then reversed, leading to opposite price moves.
10: 6 Strength ADX: Sideways movement
11: 7 Sentiment ROC: AUD is stronger than USD on the scoreboard.
✔️ Entry Time Frame: Daily
12: Entry TF Structure: Bullish CHOCH
13: Entry Move: Impulsive
14: Support Resistance Base: Support at Fibonacci Validation Zone (FVG) and order block (OB)
15: FIB: Trigger event activated
☑️ Final comments: Buy right now.
16: 💡Decision: Long
17: 🚀Entry: 0.6700
18: ✋Stop Loss: 0.6630
19: 🎯Take Profit: 0.6970
20: 😊Risk to Reward Ratio: 1:3
🕛 Expected Duration: 15 days