XAU/USD | Gold’s Historic Dump – Will $4,000 Hold or Break?By analyzing the Gold chart on the 2-hour timeframe , we can see that gold experienced an extremely sharp sell-off — the biggest single-day drop in over 12 years — falling nearly $400 in less than 24 hours!
After dropping from $4,381 to $4,003 , price rebounded to $4,162, but then corrected again and is now trading around $4,051.
Given the current volatility, it’s important to watch key levels closely. As long as gold holds above $4,000, there’s potential for a recovery toward the FVG zone between $4,100 and $4,128 .
The main supply levels to monitor are $4,101, $4,114, $4,128, and $4,155 — watch how price reacts at these points!
Please support me with your likes and comments to motivate me to share more analysis with you and share your opinion about the possible trend of this chart with me !
Best Regards , Arman Shaban
Techincalanalysis
Adobe: Entering the Fourth Wave — Smart Money Distribution PhaseAdobe’s stock is entering a critical structural phase — the completion of its third global impulse and the start of the fourth corrective wave.
While the long-term uptrend remains intact, the price structure and fundamentals suggest that the most explosive growth period may already be behind us.
🧭 Long-Term Technical Context
Looking back to the early 2000s, Adobe has moved through a textbook Elliott Wave structure.
The first and second waves built the base, while the third wave delivered the explosive rally — from roughly $30 to $600, marking a 20x increase.
Now, the fourth subwave of the third major wave appears to be forming — a phase typically characterized by sideways consolidation and distribution by institutional players.
🔺 Wave 4 Triangle Formation
In many long-term wave structures, the fourth wave forms a triangle (ABCDE pattern) — a contracting structure where price oscillates between defined boundaries.
We can already observe the emerging shape:
Wave A and B are complete
Wave C is in progress
Wave D and E will likely complete the pattern before the final breakout
Once the triangle ends, a final Wave 5 push could occur — potentially extending toward $700, or in an extended scenario, even $2000.
📊 Trading Range and Short-Term Strategy
At this stage, smart money tends to distribute positions gradually.
The price is oscillating within a broad corridor, providing opportunities for range-based trading:
Buy zones: near the triangle lows (Wave A area around $350)
Profit zones: near the triangle highs (Wave B area around $600)
For swing traders, this range offers multiple short-term opportunities before the next major move begins.
💵 Fundamental Context
Despite being in a late-wave structure, Adobe’s fundamentals remain strong.
Share buybacks: The company continues to repurchase its own shares, supporting EPS growth.
EPS trend: Rising steadily year over year.
Revenue growth: Stable, around +10% YoY, with quarterly metrics showing +40% growth since Q1 2024.
Forward P/E: Approximately 28, which, by Peter Lynch’s growth-to-PE logic, still appears reasonably valued.
These metrics suggest that even in a market downturn, Adobe’s downside risk may be more limited compared to weaker tech peers.
🧮 Fundamental Summary
✅ Consistent buybacks supporting EPS
✅ Double-digit annual revenue growth
✅ Attractive valuation relative to growth metrics
✅ Strong defensive profile versus the broader tech sector
There are no visible signs of fundamental weakness — only technical consolidation after years of exponential expansion.
⚠️ Alternative Scenario
If the stock breaks below $270, the current wave structure may need adjustment.
Such a move could imply a larger triangle or a flat correction, but the broader interpretation — that we’re inside a long-term Wave 4 — would remain valid.
📈 Market Outlook
Adobe is transitioning from a high-momentum growth phase into a strategic accumulation and distribution phase.
The stock is unlikely to replicate its earlier explosive rally, but it continues to offer structured trading opportunities inside a stable technical range.
For long-term investors, the risk-reward remains balanced, supported by solid fundamentals.
For traders, the triangle provides a clear framework: buy near lows, take profits near highs, and wait for the fifth wave breakout.
🧩 Summary
Price structure suggests Wave 4 triangle formation
Trading range between $350–$600
Fundamentals remain strong and defensive
Forward P/E at 28 — reasonable given EPS growth
Next major target: Wave 5 breakout toward $700–$2000
Adobe is no longer in its most explosive phase — but it’s far from weak.
This is a mature consolidation period, not a decline story.
For disciplined traders, the triangle may offer some of the cleanest swing setups in the tech sector.
📹 Full video analysis on my YouTube channel — check it out for detailed charts and Elliott Wave breakdowns!
TradeCityPro Academy | Support & Resistance Part 2👋 Welcome to TradeCityPro Channel
🎓 Educational Section Technical Analysis Training Series
Welcome to the Educational Content Section of our channel!
Here, we aim to teach you technical analysis from A to Z through structured playlists.
We’ll cover everything from risk and capital management, Dow Theory, support and resistance, trends, and market cycles, to more advanced concepts.
Our lessons are based on both real market experience and The Handbook of Technical Analysis.
🎨 What is Technical Analysis?
Technical Analysis (TA) is a method used to forecast price movements in financial markets by analyzing historical data, especially price and volume.
It’s based on the idea that history tends to repeat itself, and that recurring patterns can reveal profitable trading opportunities.
📚 Complete Guide to Support and Resistance in Technical Analysis
🧩 Introduction
In technical analysis, two key concepts form the foundation of nearly every trading strategy: Support and Resistance.
These levels represent areas on the chart where the price is likely to change direction, as buyers or sellers regain control.
But to truly understand them, you must go beyond the chart — because their origin lies in human psychology and collective behavior.
🟢 What Is Support?
A support level is an area where buying pressure increases and prevents the price from falling further.
It acts like a floor where buyers believe the asset has become cheap enough to buy.
As a result, the market tends to bounce upward from that area.
For example, if Bitcoin has repeatedly reversed near $55,000, that zone is considered a support level.
🔴 What Is Resistance?
A resistance level is an area where selling pressure increases and stops the price from rising higher.
When the price approaches this level, traders often feel the asset is “too expensive” and start selling.
For example, if Ethereum has failed multiple times to break above $3,800, that area is considered resistance.
💭 Why Do Support and Resistance Form?
Markets are not just numbers — they’re the reflection of human emotion and crowd behavior.
When large groups of traders make similar decisions (to buy or sell) around the same price zone, it creates a psychological memory in the market.
If price has reacted there before, traders remember it — and react the same way next time.
This repetition forms the backbone of how support and resistance levels develop and strengthen over time.
🧠 The Role of Emotion and Crowd Psychology
Emotions drive markets.
When prices rise quickly, people experience FOMO (Fear of Missing Out) and rush to buy — until demand runs out and price reverses (resistance).
When prices fall, fear of losing money triggers panic selling — until sellers dry up and price rebounds (support).
This constant emotional cycle repeats endlessly, creating recurring support and resistance zones on every chart.
⚙️ The Structure Behind the Levels
From a technical perspective, these levels form because large clusters of orders are placed around them.
Traders typically set buy orders below the current price (near support) and sell orders above it (near resistance).
So when the market reaches those areas, there’s a strong battle between buyers and sellers.
That’s why these zones are not just psychological — they’re also built into the order flow and liquidity structure of the market.
📈 Reactions and Breakouts
When price approaches a key level, two outcomes are possible: Reaction or Breakout.
In a reaction, price touches the level and reverses — meaning buyers or sellers defend it successfully.
In a breakout, price pushes through with strong momentum and high volume, breaking the market’s previous belief.
After a breakout, the level often changes its role:
A broken resistance becomes new support.
A broken support becomes new resistance.
This behavior is known as Role Reversal, one of the most powerful principles in chart analysis.
⚖️ The Professional Mindset
Support and resistance are zones, not exact numbers.
The market may slightly move above or below them before reacting — this is known as a fake breakout.
Professional traders look for confirmation such as reversal candles, volume spikes, or RSI divergences before acting.
The key is not to memorize lines but to read crowd behavior.
Once you understand why people buy or sell at certain points, you gain a true edge over the average trader.
🧩 Conclusion
Support and resistance are not just lines on a chart; they are the visible footprints of fear, greed, and collective memory in the market.
By understanding their psychological and structural roots, you can identify better entry and exit zones,
predict reactions more accurately, and avoid emotional mistakes.
Learn to read the emotions behind the candles — because at its core, the market is simply a crowd of human minds trying to win.
XAUUSD 1H – EW Long SetupHi fellow traders,
On the 1H XAUUSD chart, I am applying Elliott Wave principles to outline a potential long setup. Price seems to have completed wave 4 and is reacting from the golden box area, suggesting that wave 5 may now start unfolding to the upside.
The invalidation level at 4004.72 represents my expected end of the correction, although the setup remains valid even if price moves slightly lower. My Stop Loss is set at 3940.00, which would confirm structural failure if reached. The Take Profit is positioned at 4437.36, targeting the projected completion of wave 5.
Good luck and trade safe!
AUD/NZD SELLERS WILL DOMINATE THE MARKET|SHORT
Hello, Friends!
It makes sense for us to go short on AUD/NZD right now from the resistance line above with the target of 1.127 because of the confluence of the two strong factors which are the general downtrend on the previous 1W candle and the overbought situation on the lower TF determined by it’s proximity to the upper BB band.
Disclosure: I am part of Trade Nation's Influencer program and receive a monthly fee for using their TradingView charts in my analysis.
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TSLA: Fundamentals Are Collapsing While Valuation Stays in OrbitTesla is trading near multi-month highs… but the fundamentals tell a very different story.
EPS has dropped by 50%, revenue growth has almost stalled, and yet the stock still carries a Forward P/E of 164.
This combination — slowing growth and extreme valuation — looks like the definition of an institutional bubble setup.
🧮 Fundamental Context
Over the past few years, Tesla’s growth has slowed dramatically:
Revenue rose from 31B → 53B → 81B → 96B → 97B — barely any increase.
EPS climbed from 0.2 → 1.6 → 3.6 → 4.3 — and then fell by half.
Quarter-over-quarter metrics remain negative, with no visible recovery trend.
Meanwhile, the Forward P/E of 164 implies double-digit expansion ahead — which clearly isn’t happening.
The fundamentals simply do not justify this kind of valuation.
Right now, Tesla’s numbers resemble the early phase of a valuation compression cycle — where prices eventually catch up with reality.
📉 Technical Structure
Technically, Tesla has been moving in a broad sideways range, forming what looks like a long-term Wave 4 structure.
We’re currently inside the “B” leg, which could already be complete or near completion.
Once that wave ends, the next expected move is a Wave C decline.
Key levels to watch:
📍 Upper resistance zone: $400 – $550
📍 Primary cluster: around $250
📍 Support zone: $150 – $200
The chart shows clear volume concentration around $250 — once that level breaks, the next liquidity pocket sits between $150 and $200.
That’s where a potential bottoming cluster could form before the final upward leg.
⚠️ Market Outlook
While other FANG names maintain solid balance sheets and stable earnings, Tesla’s fundamentals are deteriorating sharply.
Yes, the stock may still see short-term pumps driven by sentiment or Musk’s fan base — but markets always return to fundamentals.
And those fundamentals are pointing downward.
📊 Summary
EPS and revenue both trending lower 📉
Forward P/E at 164 — completely disconnected from growth metrics
Technical range suggests potential decline toward $200–$150
Current price action likely part of a larger corrective structure
Long-term investors should exercise extreme caution ⚠️
Tesla isn’t a short-term “growth story” anymore — it’s a valuation risk story.
Until earnings stabilize and margins recover, this stock looks massively overpriced.
XAU/USD – Gold Completes Liquidity Sweep Phase🔍 Market Context
After a prolonged decline from the ATH GOLD 4,381 USD peak, gold has formed a Liquidity Sweep around the 4,010 USD area, where selling pressure was fully absorbed by strong buying forces from the demand zone below.
The price structure shows signs of a Change of Character (ChoCH) for the first time since the peak, along with the emergence of an Order Block (OB) 4,081 USD – the starting point for a new upward momentum.
This indicates a high probability that the market is entering a technical retracement phase , aiming to retest the upper FVG resistance zone, or even extend back to the ATH area if buying pressure continues.
💎 Key Technical Structure
Liquidity Sweep: 4,010 – 4,020 USD → liquidity sweep bottom area, increased volume, confirming sell order absorption.
Order Block (OB): 4,081 – 4,090 USD → recovery initiation zone; if price retests this area and holds firm → confirmation signal for the upward phase.
Fair Value Gaps (FVG):
• FVG1: 4,196 – 4,210 USD → first target for the recovery wave.
• FVG2: 4,234 – 4,250 USD → next target, confluence with medium-term resistance.
OB | ATH GOLD: 4,370 – 4,380 USD → major resistance zone, previous peak; if price breaks through → confirms a new upward trend.
Current market structure:
→ Short-term: bullish recovery (recovering from the bottom zone).
→ Medium-term: waiting for a break of 4,234 to shift to a complete bullish structure.
📈 Trading Scenarios
1️⃣ BUY Setup #1 – Retest Order Block 4,081 USD
Entry: 4,081 – 4,085
SL: 4,060
TP1: 4,196
TP2: 4,234
TP3: 4,370
✅ Condition:
Wait for the price to retest the OB 4,081 area, showing a confirmation signal for an increase (rejection / engulfing bullish) or a small BoS on M15.
➡️ This is a classic buy-the-dip setup after a Liquidity Sweep – high probability due to OB + ChoCH confluence + strong demand zone.
2️⃣ BUY Setup #2 – Break & Retest FVG 4,196 USD
Entry: 4,196 – 4,200
SL: 4,180
TP: 4,234 → 4,370
✅ Condition:
Price breaks up the first FVG with good volume, then lightly retests without closing below 4,180.
➡️ Trend-following setup, riding the flow as price confirms a break of short-term resistance.
📉 Alternate Scenario – SELL Reaction at 4,234 USD (Short-term Scalp)
Entry: 4,234 – 4,240
SL: 4,255
TP: 4,196 → 4,100
✅ Condition:
If price reacts strongly and fails at the second FVG without follow-up volume increase → a short adjustment may occur.
➡️ Short-term sell, only execute if no continuation confirmation at FVG2.
⚠️ Risk Management
Prioritize BUY following the main recovery trend, only SELL with clear reaction.
Avoid FOMO buying in the middle range (4,130–4,180).
If price closes H1 below 4,060 → invalidates recovery trend, pause all buy orders.
💬 Conclusion
Gold has completed the Liquidity Sweep phase and is signaling a sustainable technical reversal .
Two key areas to watch:
4,081 USD (OB Zone): first bounce support area.
4,234 USD (FVG Zone): area confirming new upward structure.
If price holds OB and breaks through FVG, high chance gold will resume upward momentum towards the 4,370 USD (ATH GOLD) area.
👉 Reasonable Strategy:
Buy 4,081 USD → TP 4,234 / 4,370 USD.
Sell reaction 4,234 USD only with clear reversal signal.
🔥 “Liquidity has been swept — now it’s time to ride the recovery wave.”
⏰ Timeframe: 1H
📅 Update: 23/10/2025
✍️ Analysis by: Captain Vincent
GOLD BEARS WILL DOMINATE THE MARKET|SHORT
GOLD SIGNAL
Trade Direction: short
Entry Level: 4,107.17
Target Level: 3,579.84
Stop Loss: 4,459.30
RISK PROFILE
Risk level: medium
Suggested risk: 1%
Timeframe: 1D
Disclosure: I am part of Trade Nation's Influencer program and receive a monthly fee for using their TradingView charts in my analysis.
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GBP/NZD SHORT FROM RESISTANCE
Hello, Friends!
We are now examining the GBP/NZD pair and we can see that the pair is going up locally while also being in a uptrend on the 1W TF. But there is also a powerful signal from the BB upper band being nearby, indicating that the pair is overbought so we can go short from the resistance line above and a target at 2.320 level.
Disclosure: I am part of Trade Nation's Influencer program and receive a monthly fee for using their TradingView charts in my analysis.
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XAU/USD – Gold Tests Final Structure Before Deciding New Wave“If the 3,950 USD zone is breached, the long-term uptrend may end.”
🔍 Market Context
After reaching the historical peak ATH GOLD 4,391 USD , gold has sharply corrected and formed a clear Change of Character (ChoCH) on the H1 frame.
Currently, the price is technically recovering to the Resistance – FVG – Fibonacci 4,216 USD zone, which was previously a distribution peak.
The sellers are regaining short-term advantage, while the Order Block zone (3,953–3,960 USD) — the starting point of the strongest growth on H4/Daily — is becoming the most critical defense line of the uptrend.
If this zone is decisively broken, the medium-term uptrend structure is likely to break and trigger a bearish expansion towards deeper liquidity zones like 3,689 USD.
💎 Technical Analysis
Resistance – FVG – Fib Zone: 4,216 – 4,228 → confluence resistance zone FVG + Fibo 0.618, suitable for sell reaction.
Liquidity Sweep Zone: 4,043 – 4,006 → intermediate liquidity sweep zone, temporary pause may occur.
Order Block | Structural Base: 3,953 – 3,960 → H4 momentum zone → ATH; if breached, long-term uptrend structure invalidated.
Liquidity Zone $$$: 3,689 – 3,685 → deep liquidity zone, potential target if OB is broken.
Overall Structure:
→ Short-term: bearish corrective phase.
→ Medium-term: bullish remains if 3,950 is not breached.
📉 Trading Scenarios
1️⃣ SELL Setup – Reaction at 4,216 – 4,228 USD zone
Entry: 4,216 – 4,228
SL: 4,240
TP1: 4,043
TP2: 3,956
TP3: 3,689
✅ Condition:
Wait for clear reversal signal (strong rejection or bearish engulfing) on H1/M15 at FVG resistance zone.
➡️ Classic “Sell the Rally” setup – follow the flow after ChoCH, target key OB zone 3,953 USD.
2️⃣ BUY Setup – Reaction at Order Block 3,953 – 3,960 USD
Entry: 3,956 – 3,953
SL: 3,940
TP: 4,043 → 4,216
✅ Condition:
Price holds OB and strong reversal signal appears (bullish engulfing / increased volume / small BoS structure turns bullish again).
➡️ This is the decision zone for medium-term trend: if it bounces strongly, buyers will regain control; if breached, gold enters a new deep decline cycle.
⚠️ Risk Management
Prioritize SELL when price retraces to 4,216 – 4,228 zone with reversal signal.
BUY at 3,953 only with clear reaction; if broken, stop all buy orders.
When price closes H4 candle below 3,950 → confirm bearish break, extend target to 3,689 USD.
💬 Conclusion
Gold is testing the Order Block foundation of the long-term uptrend (3,953–3,960 USD) .
If this zone holds, the market may rebound to 4,216 – 4,280;
but if breached, gold is likely to open a deep decline phase to 3,689 USD – where a massive amount of liquidity is concentrated at the bottom.
👉 Reasonable Strategy:
Sell 4,216 – 4,228 USD if there is a clear reversal signal.
Buy 3,953 – 3,960 USD if there is a strong reaction;
If 3,950 is breached → confirm extended downtrend, prioritize SELL continuation.
🔥 “This Order Block built the last gold rally — if it breaks, the next leg down will be brutal.”
⏰ Time Frame: 1H – reference H4/Daily
📅 Update: 22/10/2025
✍️ Analysis by: Captain Vincent
GBPUSD Short Confluence and stacking the oddsFPMARKETS:GBPUSD
Fundamental: Bearish (5/5).
Technical: Bearish (7/7) — Diamond Vault (7-Stack) candidate; SL=0.0121, TP distance=0.0314.
Weak UK inflation and growth; dollar steadies. Trend structure bearish across EMAs; momentum favors sellers while rebounds face supply overhead.
USDJPY Long #confluence country #trade the stacks. OANDA:USDJPY
Fundamental: Bullish (5)
Technical: Bullish (6/7) — actionable threshold met (≥6)
20-word summary: Dollar-yen supported by rate differentials; EMAs aligned; momentum constructive; watch 152 zone and intervention risk while trend persists this week.
Actionable Trade (Long): ATR 1.181 → SL distance 1.79512; Stop 150.08088; TP 156.54331 (2.6R).
AUD/CHF SENDS CLEAR BEARISH SIGNALS|SHORT
AUD/CHF SIGNAL
Trade Direction: short
Entry Level: 0.519
Target Level: 0.514
Stop Loss: 0.522
RISK PROFILE
Risk level: medium
Suggested risk: 1%
Timeframe: 6h
Disclosure: I am part of Trade Nation's Influencer program and receive a monthly fee for using their TradingView charts in my analysis.
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NZD/CHF BEARS ARE GAINING STRENGTH|SHORT
Hello, Friends!
NZD/CHF is making a bullish rebound on the 2H TF and is nearing the resistance line above while we are generally bearish biased on the pair due to our previous 1W candle analysis, thus making a trend-following short a good option for us with the target being the 0.456 level.
Disclosure: I am part of Trade Nation's Influencer program and receive a monthly fee for using their TradingView charts in my analysis.
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CAD/CHF BEST PLACE TO SELL FROM|SHORT
CAD/CHF SIGNAL
Trade Direction: short
Entry Level: 0.568
Target Level: 0.564
Stop Loss: 0.570
RISK PROFILE
Risk level: medium
Suggested risk: 1%
Timeframe: 5h
Disclosure: I am part of Trade Nation's Influencer program and receive a monthly fee for using their TradingView charts in my analysis.
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NZD/CAD BEARS ARE STRONG HERE|SHORT
Hello, Friends!
Bearish trend on NZD/CAD, defined by the red colour of the last week candle combined with the fact the pair is overbought based on the BB upper band proximity, makes me expect a bearish rebound from the resistance line above and a retest of the local target below at 0.801.
Disclosure: I am part of Trade Nation's Influencer program and receive a monthly fee for using their TradingView charts in my analysis.
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CHF/JPY SHORT FROM RESISTANCE
Hello, Friends!
CHF-JPY uptrend evident from the last 1W green candle makes short trades more risky, but the current set-up targeting 188.106 area still presents a good opportunity for us to sell the pair because the resistance line is nearby and the BB upper band is close which indicates the overbought state of the CHF/JPY pair.
Disclosure: I am part of Trade Nation's Influencer program and receive a monthly fee for using their TradingView charts in my analysis.
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GBP/CAD BEST PLACE TO SELL FROM|SHORT
GBP/CAD SIGNAL
Trade Direction: short
Entry Level: 1.883
Target Level: 1.871
Stop Loss: 1.891
RISK PROFILE
Risk level: medium
Suggested risk: 1%
Timeframe: 12h
Disclosure: I am part of Trade Nation's Influencer program and receive a monthly fee for using their TradingView charts in my analysis.
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EURNZD trend breakout and start of correctionEURNZD has broken below the ascending channel and confirmed the breakout under 2.0350. This indicates the start of a corrective phase. Downside targets are 2.0190, 2.0020, and 1.9860. As long as the price stays below the confirmation zone, sellers dominate the market. A return above 2.0370 would cancel the bearish outlook and restore the upward trend.
The New Zealand dollar remains supported by stable macroeconomic data and expectations that the RBNZ will maintain tight policy longer than the ECB. Meanwhile, the euro faces pressure from weak industrial performance and sluggish recovery across the eurozone. These factors favor further downside for EURNZD.
Following the breakout and confirmation, EURNZD is likely to continue its correction. As long as the price remains below 2.0350, the bias stays bearish with targets at 2.0190, 2.0020, and 1.9860.
MEMECORE/USDT — Range Recovery Forming, Watching Higher levelsMEMECORE has shown a steady rebound from the lower range near $2.00, regaining short-term momentum as it attempts to reclaim the $2.34 zone, which has acted as a strong resistance multiple times.
A confirmed breakout above $2.34 would signal a shift in momentum and open the path toward the range high at $2.53, where the next major liquidity zone sits.
📊 Technical Overview:
Range Support: $2.00
Range Resistance: $2.34
Breakout Target: $2.53
Bias: Neutral → Bullish above $2.34
If MEMECORE continues to hold above the $2.00 base with rising volume, the structure suggests potential for a range breakout and short-term trend reversal.
📈 Outlook: Building strength inside range
🎯 Targets: $2.34 → $2.53
SILVER BULLS WILL DOMINATE THE MARKET|LONG
SILVER SIGNAL
Trade Direction: long
Entry Level: 4,960.5
Target Level: 5,379.0
Stop Loss: 4,680.9
RISK PROFILE
Risk level: medium
Suggested risk: 1%
Timeframe: 9h
Disclosure: I am part of Trade Nation's Influencer program and receive a monthly fee for using their TradingView charts in my analysis.
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NZD/JPY SENDS CLEAR BEARISH SIGNALS|SHORT
NZD/JPY SIGNAL
Trade Direction: short
Entry Level: 86.714
Target Level: 86.288
Stop Loss: 86.998
RISK PROFILE
Risk level: medium
Suggested risk: 1%
Timeframe: 2h
Disclosure: I am part of Trade Nation's Influencer program and receive a monthly fee for using their TradingView charts in my analysis.
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CAD/JPY BEARS ARE GAINING STRENGTH|SHORT
Hello, Friends!
CAD/JPY pair is in the downtrend because previous week’s candle is red, while the price is obviously rising on the 4H timeframe. And after the retest of the resistance line above I believe we will see a move down towards the target below at 106.478 because the pair is overbought due to its proximity to the upper BB band and a bearish correction is likely.
Disclosure: I am part of Trade Nation's Influencer program and receive a monthly fee for using their TradingView charts in my analysis.
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