🕛 TOPDOWN Analysis - Patience Required Amidst Supply Signals
Overview: The market presents an intriguing picture with four consecutive long-wick candles at the top, signifying a robust supply area. Big players seem hesitant to push prices higher than the previous high, warranting a watchful approach, especially in the context of the yearly chart. On the monthly chart, there is a clear uptrend with a well-defined cup and handle pattern. A substantial buildup at resistance levels suggests a wait-and-see stance, primarily for investors. The weekly chart signals a shift in the price dynamic, indicating bearish control until the last demand area or the next swing target zone.
😇 7 Dimension Analysis
Time Frame: Daily
1️⃣ Swing Structure: Bearish
🟢 Structure Behavior: Breakout from Sideways (BoS).
🟢 Swing Move: The impulsive move has achieved its target.
🟢 Inducement: Awaiting confirmation; additional sell entry planned.
🟢 Pull Back: A solid second pullback.
🟢 Internal Structure: Bearish.
🟢 Support or Demand Area: Identified as the next profit booking target, decisions will follow after booking profits. Awaiting Support Breakout/CIP at 1899.
2️⃣ Pattern
🟢 CHART PATTERNS
Continuation
Descending Triangle break signals a target around 1827.
🟢 CANDLE PATTERNS
Notable Observations:
A record session count with eight consecutive bear candles suggests potential continuation until the target.
Momentum indicates bearish candle formation.
3️⃣ Volume:
Volume has been substantial during the entire move, with no signs of weakening.
Volume on the breakout consistently indicates lower volume at base levels followed by significant volume during the follow-up.
4️⃣ Momentum RSI:
🟢 Zone: Super bearish.
🟢 Loud Moves: Price movement transitioning from sideways to bearish, indicating expectations of further bearishness.
🟢 Overbought/Sold Rejections: Currently count at 0.
5️⃣ Volatility Bollinger Bands:
🟢 Move Commencement: Following a Squeeze spanning over 10 candles in the range.
🟢 Squeeze Breakout: Expectation of a move outside the lower band.
🟢 Walking on the Band: Ongoing trend adherence, with price respecting this trend.
6️⃣ Strength ADX:
Bears currently exhibit complete control in the market at this point.
7️⃣ Sentiment ROC:
Indicates that this is the weakest commodity in the last week.
✔️ Entry Time Frame: H1
✅ Entry TF Structure: Bearish
☑️ Current Move: Impulsive.
✔ Support Resistance Base: Last established base.
☑️ Candles Behavior: Reflects characteristics like RSC, Longwicks, Doji, and Inside candles.
☑️ FIB Trigger Event: To be assessed at the sell area.
☑️ Trend Line: To be drawn once the price reaches the sell area.
☑️ Final Comments: Waiting for the right moment to sell.
💡 Decision: Sell at correction.
🚀 Entry: 1870
✋ Stop Loss: 1884
🎯 Take Profit: 1820, 2nd Exit if Internal Structure Changes, 3rd Exit on a trendline breakout or FOMO signal.
😊 Risk to Reward Ratio: 1:3.5
🕛 Expected Duration: 7 days
SUMMARY: The market exhibits a strong supply area with a need for vigilance. Various charts, including the yearly, monthly, and weekly, provide insights into the bearish sentiment. The daily analysis indicates a bearish structure with planned sell entries. Volume, momentum, and candle patterns further support the bearish outlook. Patience is advised for a well-timed sell. Specific entry, stop-loss, and take-profit levels are provided, with a risk-reward ratio of 1:3.5.
Overview: The market presents an intriguing picture with four consecutive long-wick candles at the top, signifying a robust supply area. Big players seem hesitant to push prices higher than the previous high, warranting a watchful approach, especially in the context of the yearly chart. On the monthly chart, there is a clear uptrend with a well-defined cup and handle pattern. A substantial buildup at resistance levels suggests a wait-and-see stance, primarily for investors. The weekly chart signals a shift in the price dynamic, indicating bearish control until the last demand area or the next swing target zone.
😇 7 Dimension Analysis
Time Frame: Daily
1️⃣ Swing Structure: Bearish
🟢 Structure Behavior: Breakout from Sideways (BoS).
🟢 Swing Move: The impulsive move has achieved its target.
🟢 Inducement: Awaiting confirmation; additional sell entry planned.
🟢 Pull Back: A solid second pullback.
🟢 Internal Structure: Bearish.
🟢 Support or Demand Area: Identified as the next profit booking target, decisions will follow after booking profits. Awaiting Support Breakout/CIP at 1899.
2️⃣ Pattern
🟢 CHART PATTERNS
Continuation
Descending Triangle break signals a target around 1827.
🟢 CANDLE PATTERNS
Notable Observations:
A record session count with eight consecutive bear candles suggests potential continuation until the target.
Momentum indicates bearish candle formation.
3️⃣ Volume:
Volume has been substantial during the entire move, with no signs of weakening.
Volume on the breakout consistently indicates lower volume at base levels followed by significant volume during the follow-up.
4️⃣ Momentum RSI:
🟢 Zone: Super bearish.
🟢 Loud Moves: Price movement transitioning from sideways to bearish, indicating expectations of further bearishness.
🟢 Overbought/Sold Rejections: Currently count at 0.
5️⃣ Volatility Bollinger Bands:
🟢 Move Commencement: Following a Squeeze spanning over 10 candles in the range.
🟢 Squeeze Breakout: Expectation of a move outside the lower band.
🟢 Walking on the Band: Ongoing trend adherence, with price respecting this trend.
6️⃣ Strength ADX:
Bears currently exhibit complete control in the market at this point.
7️⃣ Sentiment ROC:
Indicates that this is the weakest commodity in the last week.
✔️ Entry Time Frame: H1
✅ Entry TF Structure: Bearish
☑️ Current Move: Impulsive.
✔ Support Resistance Base: Last established base.
☑️ Candles Behavior: Reflects characteristics like RSC, Longwicks, Doji, and Inside candles.
☑️ FIB Trigger Event: To be assessed at the sell area.
☑️ Trend Line: To be drawn once the price reaches the sell area.
☑️ Final Comments: Waiting for the right moment to sell.
💡 Decision: Sell at correction.
🚀 Entry: 1870
✋ Stop Loss: 1884
🎯 Take Profit: 1820, 2nd Exit if Internal Structure Changes, 3rd Exit on a trendline breakout or FOMO signal.
😊 Risk to Reward Ratio: 1:3.5
🕛 Expected Duration: 7 days
SUMMARY: The market exhibits a strong supply area with a need for vigilance. Various charts, including the yearly, monthly, and weekly, provide insights into the bearish sentiment. The daily analysis indicates a bearish structure with planned sell entries. Volume, momentum, and candle patterns further support the bearish outlook. Patience is advised for a well-timed sell. Specific entry, stop-loss, and take-profit levels are provided, with a risk-reward ratio of 1:3.5.