🔆MULTI-TIME FRAME TOP-DOWN ANALYSIS OVERVIEW☀️
1:✨Eagle eye: The market structure is extremely bearish, with all yearly imbalance areas filled. There is a strong downward momentum, and a long wick candle on the yearly timeframe suggests further downside potential. Overall, the bearish sentiment prevails.
2:📆Monthly: The monthly timeframe shows a significant entry opportunity that has the potential to recover previous losses. After tapping the monthly order block, an impulsive bearish move started, and the target for this long-term trade is set at 1.5788. Selling and holding the position is advised due to a big momentum candle engulfing previous price movements.
3:📅Weekly: While the weekly structure is not yet fully bearish, we know that prices have filled out important monthly areas. Therefore, we are currently seeking sell entries from this point.
4:🕛Daily: The daily breakout of consolidation (BOC) has occurred, confirming the monthly rejections. We are now waiting for a bullish correction to occur at a resistance level where we can enter a sell position.
😇7 Dimension analysis
🟢 analysis time frame: Daily
5: 1 Price Structure: Bearish internally, external confirmation pending (waiting for monthly confirmation)
6: 2 Pattern Candle Chart: Inside bar pattern suggests a potential reversal towards the order block
7: 3 Volume: Bearish volume is observed
8: 4 Momentum UNCONVENTIONAL Rsi: RSI is in a super bearish zone, below 40
9: 5 Volatility measure Bollinger bands: Currently showing low volatility
10: 6 Strength ADX: Bears are in control, indicating strength
11: 7 Sentiment ROC: EUR is weaker compared to other currencies
✔️ Entry Time Frame: Daily
12: Entry TF Structure: Bearish
13: Entry Move: Impulsive
14: Support Resistance Base: Monthly order block tap
15: FIB: Fibonnaci retracement levels applied
☑️ final comments: Sell
16: 💡decision: Short
17: 🚀Entry: 1.7222
18: ✋Stop Loss: 1.7601
19: 🎯Take Profit: 1.5788
20: 😊Risk to Reward Ratio: 1:7
🕛 Expected Duration: 2 months
1:✨Eagle eye: The market structure is extremely bearish, with all yearly imbalance areas filled. There is a strong downward momentum, and a long wick candle on the yearly timeframe suggests further downside potential. Overall, the bearish sentiment prevails.
2:📆Monthly: The monthly timeframe shows a significant entry opportunity that has the potential to recover previous losses. After tapping the monthly order block, an impulsive bearish move started, and the target for this long-term trade is set at 1.5788. Selling and holding the position is advised due to a big momentum candle engulfing previous price movements.
3:📅Weekly: While the weekly structure is not yet fully bearish, we know that prices have filled out important monthly areas. Therefore, we are currently seeking sell entries from this point.
4:🕛Daily: The daily breakout of consolidation (BOC) has occurred, confirming the monthly rejections. We are now waiting for a bullish correction to occur at a resistance level where we can enter a sell position.
😇7 Dimension analysis
🟢 analysis time frame: Daily
5: 1 Price Structure: Bearish internally, external confirmation pending (waiting for monthly confirmation)
6: 2 Pattern Candle Chart: Inside bar pattern suggests a potential reversal towards the order block
7: 3 Volume: Bearish volume is observed
8: 4 Momentum UNCONVENTIONAL Rsi: RSI is in a super bearish zone, below 40
9: 5 Volatility measure Bollinger bands: Currently showing low volatility
10: 6 Strength ADX: Bears are in control, indicating strength
11: 7 Sentiment ROC: EUR is weaker compared to other currencies
✔️ Entry Time Frame: Daily
12: Entry TF Structure: Bearish
13: Entry Move: Impulsive
14: Support Resistance Base: Monthly order block tap
15: FIB: Fibonnaci retracement levels applied
☑️ final comments: Sell
16: 💡decision: Short
17: 🚀Entry: 1.7222
18: ✋Stop Loss: 1.7601
19: 🎯Take Profit: 1.5788
20: 😊Risk to Reward Ratio: 1:7
🕛 Expected Duration: 2 months