π TOPDOWN - Bearish Continuation Setup for EUR/AUD
Overview: Monthly and daily analyses reveal a prolonged bearish trend with notable liquidity sweeps. Weekly analysis is pending, focusing on the daily for detailed insights.
π 7 Dimension Analysis
Time Frame: Daily
1οΈβ£ Swing Structure: Bearish
π’ Structure Behavior: Break of Structure (BoS).
π’ Swing Move: Impulsive.
π’ Inducement: None observed.
π’ Pull Back: Absent.
π’ Ext OB: Mitigated.
π’ Support/Demand Area: Weak demand area - possible redistribution.
π’ Trendline: Daily trendline intact.
π’ Buildup/Pre-break/Post-break/QC: Data insufficient.
π’ Traps: None detected.
π’ Time Frame Confluence: Daily.
2οΈβ£ Pattern
π’ CHART PATTERNS
Reversal: Head and shoulders, double top.
Rounding Patterns: Double at the 2nd shoulder with strong rejection.
π’ CANDLE PATTERNS
Key Considerations:
Record session count indicates a possible consolidation at this support.
Strict marubozu candle could be a climactic player.
Tower top/bottom indicates potential climax at the opening.
3οΈβ£ Volume:
π’ Fixed Range suggests a profit booking area.
π’ Good breakout volume.
4οΈβ£ Momentum RSI:
π’ In a super bearish zone.
π’ Range shift not confirmed.
π’ No divergence.
π’ Loud moves shifted from sideways to bearish.
5οΈβ£ Volatility Bollinger Bands:
π’ Middle band rejection.
π’ Squeeze done with breakout outside the lower band.
π’ Walking on the band just started.
π’ Dual band derivation supported.
6οΈβ£ Strength According to ROC:
π’ Values: EUR at 0.31, AUD at 4.1. AUD exhibits more strength at this level.
7οΈβ£ Sentiment: After comprehensive analysis, the sentiment strongly favors a sell setup in this pair.
βοΈ Entry Time Frame: Daily
β Entry TF Structure: Bearish
βοΈ Current Move: Impulsive
β Support/Resistance Base: Support level already broken with a momentum candle.
βοΈ Candles Behavior: Momentum is bearish.
βοΈ Trend Line Breakout: Confirmed.
π‘ Decision: Sell at opening.
π Entry: 1.63137
β Stop Loss: 1.6551
π― Take Profit: Hold until price walks on the band.
2nd Exit if Internal Structure Changes, 3rd Trendline Breakout, FOMO.
π Risk to Reward Ratio: 1:3.5
π Expected Duration: 10 days
SUMMARY: The analysis strongly supports a bearish continuation setup. The absence of significant pullbacks and strong bearish momentum across multiple indicators suggests a favorable sell opportunity. Risk management is key, and the strategy involves holding until a clear indication of a trend reversal.
Overview: Monthly and daily analyses reveal a prolonged bearish trend with notable liquidity sweeps. Weekly analysis is pending, focusing on the daily for detailed insights.
π 7 Dimension Analysis
Time Frame: Daily
1οΈβ£ Swing Structure: Bearish
π’ Structure Behavior: Break of Structure (BoS).
π’ Swing Move: Impulsive.
π’ Inducement: None observed.
π’ Pull Back: Absent.
π’ Ext OB: Mitigated.
π’ Support/Demand Area: Weak demand area - possible redistribution.
π’ Trendline: Daily trendline intact.
π’ Buildup/Pre-break/Post-break/QC: Data insufficient.
π’ Traps: None detected.
π’ Time Frame Confluence: Daily.
2οΈβ£ Pattern
π’ CHART PATTERNS
Reversal: Head and shoulders, double top.
Rounding Patterns: Double at the 2nd shoulder with strong rejection.
π’ CANDLE PATTERNS
Key Considerations:
Record session count indicates a possible consolidation at this support.
Strict marubozu candle could be a climactic player.
Tower top/bottom indicates potential climax at the opening.
3οΈβ£ Volume:
π’ Fixed Range suggests a profit booking area.
π’ Good breakout volume.
4οΈβ£ Momentum RSI:
π’ In a super bearish zone.
π’ Range shift not confirmed.
π’ No divergence.
π’ Loud moves shifted from sideways to bearish.
5οΈβ£ Volatility Bollinger Bands:
π’ Middle band rejection.
π’ Squeeze done with breakout outside the lower band.
π’ Walking on the band just started.
π’ Dual band derivation supported.
6οΈβ£ Strength According to ROC:
π’ Values: EUR at 0.31, AUD at 4.1. AUD exhibits more strength at this level.
7οΈβ£ Sentiment: After comprehensive analysis, the sentiment strongly favors a sell setup in this pair.
βοΈ Entry Time Frame: Daily
β Entry TF Structure: Bearish
βοΈ Current Move: Impulsive
β Support/Resistance Base: Support level already broken with a momentum candle.
βοΈ Candles Behavior: Momentum is bearish.
βοΈ Trend Line Breakout: Confirmed.
π‘ Decision: Sell at opening.
π Entry: 1.63137
β Stop Loss: 1.6551
π― Take Profit: Hold until price walks on the band.
2nd Exit if Internal Structure Changes, 3rd Trendline Breakout, FOMO.
π Risk to Reward Ratio: 1:3.5
π Expected Duration: 10 days
SUMMARY: The analysis strongly supports a bearish continuation setup. The absence of significant pullbacks and strong bearish momentum across multiple indicators suggests a favorable sell opportunity. Risk management is key, and the strategy involves holding until a clear indication of a trend reversal.
Trade active:
Formation of an inside daily time frame triangle signals trend continuation. Holding our position until target is reached."
Trade active:
The price is consolidating in a triangle pattern, which often indicates a continuation. We'll maintain our current position."
Comment:
o significant changes observed; prices remain aligned with our target. No need for adjustments; hold steady.
Comment:
We maintain our position with unwavering confidence, as the analysis and market structure on our timeframe remain unchanged. Staying committed to our strategy. #ProfessionalTrading"