Overview: The monthly market structure maintains a bullish stance, holding key supports. On the weekly chart, a valid low was established, accompanied by a strong bearish inducement. While a demand flip occurred, the overall trend remains bearish, marked by a record session count and inside candle price action. The daily time frame reveals a bearish swing structure with impulsive moves, indicating potential further downside.
🟢 Resistance Zones: Market encounters resistance at every supply zone post- ChoCh, forming a bearish build-up, indicating potential future downside. No traps observed.
Momentum candles with Fake out/FOMO. Tweezer at the internal move top. Inside candles in the last three days. 3️⃣ Volume: Significant volumes observed at the beginning of the move.
4️⃣ Momentum RSI: 🟢 RSI Below 40: Indicates a super bearish zone with high selling pressure. 🟢 Range Shift: Shifted sideways to bearish, suggesting ongoing bearish activity. 🟢 Divergence: Hidden bearish divergence present.
5️⃣ Volatility Bollinger Bands: 🟢 Middle Band Resistance: Strong rejection observed. 🟢 Head fake: At the top of the move, indicating a potential deep bearish move.
✔️ Entry Time Frame: H1 ✅ Entry TF Structure: Bearish ☑️ Current Move: Impulsive Bearish ✔ Support Resistance Base: Takes resistance at a significant level. ☑️ Candles Behavior: Extremely volatile bearish momentum. ☑️ Trend Line Breakout: Confirmed.
☑️ Final Comments: Sell at the open. 💡 Decision: Sell 🚀 Entry: 75.22 ✋ Stop Loss: 78.04 🎯 Take Profit: 68.07, 2nd Exit if Internal Structure Changes, 3rd Exit on a trendline breakout or FOMO. 😊 Risk to Reward Ratio: 1:3.5 🕛 Expected Duration: 7 days
SUMMARY: The analysis reveals a monthly bullish structure but a weekly bearish inducement. The daily swing structure is bearish with an ongoing impulsive bearish move. Recognized patterns include a symmetric triangle and shakeout continuation. Critical levels, candle patterns, and trendline breakouts were considered for the entry decision. The suggestion is to sell at the open, with detailed entry, stop-loss, and take-profit levels, presenting a risk-to-reward ratio of 1:3.5, and an expected duration of 7 days.