🔆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 BOS (Breakout of Structure) 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: Price has taken an inducement and is now following recent order flow. The last valid low is at the same level, and prices have been moving sideways from this point, forming a triangle. The breakout of this triangle will define the next move of the market, and there is a possibility of an upside breakout.
😇7 Dimension analysis
🟢 analysis time frame: Daily
5: 1 Price Structure: Bullish to sideways, corrective move completed with a valid low and demand area.
6: 2 Pattern Candle Chart: Headfake chart, triangle, LH (Lower High), momentum candle.
7: 3 Volume: High volume at the lower high indicates a signal of profit booking. After heavy volume, prices have not gone further down, instead moving upside.
8: 4 Momentum UNCONVENTIONAL RSI: Sideways but in the bullish zone.
9: 5 Volatility measure Bollinger Bands: The bands are in a full squeeze, and the breakout of the squeeze will finalize the entry. If it breaks upside, take a long position immediately.
10: 6 Strength ADX: Sideways.
11: 7 Sentiment ROC: USD is weak, and NZD is strong.
✔️ Entry Time Frame: H4
12: Entry TF Structure: Bullish CHOCH.
13: Entry Move: Impulsive.
14: Support Resistance Base: Trendline breakout.
15: FIB: Activated on the daily timeframe.
☑️ Final comments: Buy at the breakout.
16: 💡Decision: Buy.
17: 🚀Entry: 0.6232.
18: ✋Stop Loss: 0.6168.
19: 🎯Take Profit: 0.6466.
20: 😊Risk to Reward Ratio: 1:2.
🕛 Expected Duration: 20 days.
1:✨Eagle eye: A completely bearish trend is in place. The last low was created in 2001, followed by a BOS (Breakout of Structure) 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: Price has taken an inducement and is now following recent order flow. The last valid low is at the same level, and prices have been moving sideways from this point, forming a triangle. The breakout of this triangle will define the next move of the market, and there is a possibility of an upside breakout.
😇7 Dimension analysis
🟢 analysis time frame: Daily
5: 1 Price Structure: Bullish to sideways, corrective move completed with a valid low and demand area.
6: 2 Pattern Candle Chart: Headfake chart, triangle, LH (Lower High), momentum candle.
7: 3 Volume: High volume at the lower high indicates a signal of profit booking. After heavy volume, prices have not gone further down, instead moving upside.
8: 4 Momentum UNCONVENTIONAL RSI: Sideways but in the bullish zone.
9: 5 Volatility measure Bollinger Bands: The bands are in a full squeeze, and the breakout of the squeeze will finalize the entry. If it breaks upside, take a long position immediately.
10: 6 Strength ADX: Sideways.
11: 7 Sentiment ROC: USD is weak, and NZD is strong.
✔️ Entry Time Frame: H4
12: Entry TF Structure: Bullish CHOCH.
13: Entry Move: Impulsive.
14: Support Resistance Base: Trendline breakout.
15: FIB: Activated on the daily timeframe.
☑️ Final comments: Buy at the breakout.
16: 💡Decision: Buy.
17: 🚀Entry: 0.6232.
18: ✋Stop Loss: 0.6168.
19: 🎯Take Profit: 0.6466.
20: 😊Risk to Reward Ratio: 1:2.
🕛 Expected Duration: 20 days.