π TOPDOWN Analysis - Bullish Momentum Signals for a Long Position
Overview: On the monthly chart, a multi-year valid low preceded a lower high, leading to a triangular consolidation. The recent breakout above the triangle and trendline suggests the potential for a strong bullish momentum, indicating a favorable opportunity for an upward trend. The weekly trend is convincingly bullish, breaking the highest weekly level with a strong bullish closing, setting the stage for a prolonged long position.
π 7 Dimension Analysis
Time Frame: Daily
1οΈβ£ Swing Structure: Bullish
π’ Structure Behavior: BoS (Breakout and Support)
π’ Swing Move: Impulsive
π’ Inducement: Completed
π’ Pull Back: Potential initiation of the first strong move.
π’ Support/Resistance Breakout: Successful breakout with a change in polarity support. Post-breakout buildup observed. No apparent traps; strong breakout follow-through and V-shaped recovery.
2οΈβ£ Pattern
π’ CHART PATTERNS
Rounding Patterns (Cup and Handle)
Consolidation Rectangle in Handle
Continuation
Shakeout Continuation after Breakout
π’ CANDLE PATTERNS
Notable Observations:
Record Session Count.
Classic doji at the small move bottom indicating a clear uptrend.
Momentum candle with a heavy shakeout followed by a bullish move.
Open low, maintaining bullish momentum throughout the session.
3οΈβ£ Volume: Significant volumes observed at the pivot level of this move. Moderate volume at the breakout point.
4οΈβ£ Momentum RSI:
π’ RSI Above 60: Indicates a super bullish zone.
π’ Range Shift: Shifted sideways to bullish, confirming strength in bullish momentum.
π’ Divergence: Strong hidden bullish divergence observed. Grandfather-father-son entries suggest a perfect bullish entry.
5οΈβ£ Volatility Bollinger Bands:
π’ Middle Band Support: Fully intact with the price, forming a base.
π’ W Pattern: Forming, but given the overall bullish trend, it is considered secondary.
π’ Dual Band Derivation: Fully supports bulls.
6οΈβ£ Strength
Rate of Change: NZD is the strongest against JPY at the moment.
βοΈ Entry Time Frame: H1
β Entry TF Structure: Bullish
βοΈ Current Move: Impulsive
β Support/Resistance Base: Base formed after a strong rally and flag formation at H1 time frame. A breakout from this base indicates a strong buy opportunity.
βοΈ Candles Behavior: Record session count and consolidation.
βοΈ Final Comments: Buy.
π‘ Decision: Enter when the price breaks the current H1 consolidation on the upside.
π Entry: 91.215
β Stop Loss: 88.9
π― Take Profit: 99.9, 2nd Exit if Internal Structure Changes, 3rd Exit on a trendline breakout or FOMO.
π Risk to Reward Ratio: 1:4
π Expected Duration: 15 days
SUMMARY: The analysis indicates a strong bullish momentum, with a monthly breakout and a weekly bullish trend. The daily chart supports a bullish outlook, with key patterns, candle signals, and volume considerations. The suggestion is to buy when the H1 consolidation breaks upward, presenting detailed entry and exit levels, with a risk-to-reward ratio of 1:4, and an expected duration of 15days.
Overview: On the monthly chart, a multi-year valid low preceded a lower high, leading to a triangular consolidation. The recent breakout above the triangle and trendline suggests the potential for a strong bullish momentum, indicating a favorable opportunity for an upward trend. The weekly trend is convincingly bullish, breaking the highest weekly level with a strong bullish closing, setting the stage for a prolonged long position.
π 7 Dimension Analysis
Time Frame: Daily
1οΈβ£ Swing Structure: Bullish
π’ Structure Behavior: BoS (Breakout and Support)
π’ Swing Move: Impulsive
π’ Inducement: Completed
π’ Pull Back: Potential initiation of the first strong move.
π’ Support/Resistance Breakout: Successful breakout with a change in polarity support. Post-breakout buildup observed. No apparent traps; strong breakout follow-through and V-shaped recovery.
2οΈβ£ Pattern
π’ CHART PATTERNS
Rounding Patterns (Cup and Handle)
Consolidation Rectangle in Handle
Continuation
Shakeout Continuation after Breakout
π’ CANDLE PATTERNS
Notable Observations:
Record Session Count.
Classic doji at the small move bottom indicating a clear uptrend.
Momentum candle with a heavy shakeout followed by a bullish move.
Open low, maintaining bullish momentum throughout the session.
3οΈβ£ Volume: Significant volumes observed at the pivot level of this move. Moderate volume at the breakout point.
4οΈβ£ Momentum RSI:
π’ RSI Above 60: Indicates a super bullish zone.
π’ Range Shift: Shifted sideways to bullish, confirming strength in bullish momentum.
π’ Divergence: Strong hidden bullish divergence observed. Grandfather-father-son entries suggest a perfect bullish entry.
5οΈβ£ Volatility Bollinger Bands:
π’ Middle Band Support: Fully intact with the price, forming a base.
π’ W Pattern: Forming, but given the overall bullish trend, it is considered secondary.
π’ Dual Band Derivation: Fully supports bulls.
6οΈβ£ Strength
Rate of Change: NZD is the strongest against JPY at the moment.
βοΈ Entry Time Frame: H1
β Entry TF Structure: Bullish
βοΈ Current Move: Impulsive
β Support/Resistance Base: Base formed after a strong rally and flag formation at H1 time frame. A breakout from this base indicates a strong buy opportunity.
βοΈ Candles Behavior: Record session count and consolidation.
βοΈ Final Comments: Buy.
π‘ Decision: Enter when the price breaks the current H1 consolidation on the upside.
π Entry: 91.215
β Stop Loss: 88.9
π― Take Profit: 99.9, 2nd Exit if Internal Structure Changes, 3rd Exit on a trendline breakout or FOMO.
π Risk to Reward Ratio: 1:4
π Expected Duration: 15 days
SUMMARY: The analysis indicates a strong bullish momentum, with a monthly breakout and a weekly bullish trend. The daily chart supports a bullish outlook, with key patterns, candle signals, and volume considerations. The suggestion is to buy when the H1 consolidation breaks upward, presenting detailed entry and exit levels, with a risk-to-reward ratio of 1:4, and an expected duration of 15days.