🔆MULTI-TIME FRAME TOP-DOWN ANALYSIS OVERVIEW☀️
1:✨Eagle eye: The market has been experiencing a strong bearish trend for many years. A Breakout-Sell (BOS) occurred 10 years ago with heavy volume. Last year, a liquidity sweep candle was formed after the breakout, indicating a further downside move. Back-to-back strong bearish candles suggest that bears are still in control of the market.
2:📆Monthly: A clear bearish structure is present, and a fakeout-type structure has formed. However, the low is not confirmed until the induction phase is complete. The closure of this candle will determine whether it is a small corrective pullback or a confirmation of the bearish trend. No notable reversal signals have appeared yet, but bears remain in power as they tapped into the extreme order block during the pullback. The overall view favors short entries.
3:📅Weekly: The structure is clearly bearish, and the low is confirmed and valid. The induction phase is also complete. If the price reaches the upcoming order block or provides a strong reversal signal based on the timeframe, a sell entry can be opened. However, it is recommended to wait for the weekly closing before making a decision.
4:🕛Daily: A strong supply area is approaching, as the price has touched this level four times before. Both a breakout or a rejection can be important at this level, but a sell entry is recommended while waiting for a sell signal. Additionally, a trendline resistance is present, and the last closing candle formed a doji at the perfect time and location. The price action tomorrow will provide further clarity.
😇7 Dimension analysis
🟢 analysis time frame: Daily
5: 1 Price Structure: Bearish
6: 2 Pattern Candle Chart: Doji and double top pattern
7: 3 Volume: No significant volume during the upside move but last leg only unable to breakout profit booking volume, indicating that volume will play an important role in the upcoming price action.
8: 4 Momentum UNCONVENTIONAL Rsi: A very powerful bearish divergence is present. After being in an overbought state, the price is struggling to stay above 60, but bears remain strong.
9: 5 Volatility measure Bollinger bands: A "M" pattern is forming, but the current leg has high volumes without breaking the previous high, indicating significant profit booking with large quantities.
10: 6 Strength ADX: Bulls are weaker at this level and appear to be resting, while bears are ready to take control again.
11: 7 Sentiment ROC: CAD is weaker than CHF.
✔️ Entry Time Frame: Daily
12: Entry TF Structure: Bearish
13: Entry Move: Impulsive
14: Support Resistance Base: Extreme order block or resistance level
15: FIB: Trigger event at an important area, including a trendline break.
☑️ Final comments: Clear sell signal
16: 💡Decision: Ready to sell after the previous candle's low is broken
17: 🚀Entry: 0.06670
18: ✋Stop Loss: 0.6864
19: 🎯Take Profit: 0.6404
20: 😊Risk to Reward Ratio: 1:4
🕛 Expected Duration: 30 days
1:✨Eagle eye: The market has been experiencing a strong bearish trend for many years. A Breakout-Sell (BOS) occurred 10 years ago with heavy volume. Last year, a liquidity sweep candle was formed after the breakout, indicating a further downside move. Back-to-back strong bearish candles suggest that bears are still in control of the market.
2:📆Monthly: A clear bearish structure is present, and a fakeout-type structure has formed. However, the low is not confirmed until the induction phase is complete. The closure of this candle will determine whether it is a small corrective pullback or a confirmation of the bearish trend. No notable reversal signals have appeared yet, but bears remain in power as they tapped into the extreme order block during the pullback. The overall view favors short entries.
3:📅Weekly: The structure is clearly bearish, and the low is confirmed and valid. The induction phase is also complete. If the price reaches the upcoming order block or provides a strong reversal signal based on the timeframe, a sell entry can be opened. However, it is recommended to wait for the weekly closing before making a decision.
4:🕛Daily: A strong supply area is approaching, as the price has touched this level four times before. Both a breakout or a rejection can be important at this level, but a sell entry is recommended while waiting for a sell signal. Additionally, a trendline resistance is present, and the last closing candle formed a doji at the perfect time and location. The price action tomorrow will provide further clarity.
😇7 Dimension analysis
🟢 analysis time frame: Daily
5: 1 Price Structure: Bearish
6: 2 Pattern Candle Chart: Doji and double top pattern
7: 3 Volume: No significant volume during the upside move but last leg only unable to breakout profit booking volume, indicating that volume will play an important role in the upcoming price action.
8: 4 Momentum UNCONVENTIONAL Rsi: A very powerful bearish divergence is present. After being in an overbought state, the price is struggling to stay above 60, but bears remain strong.
9: 5 Volatility measure Bollinger bands: A "M" pattern is forming, but the current leg has high volumes without breaking the previous high, indicating significant profit booking with large quantities.
10: 6 Strength ADX: Bulls are weaker at this level and appear to be resting, while bears are ready to take control again.
11: 7 Sentiment ROC: CAD is weaker than CHF.
✔️ Entry Time Frame: Daily
12: Entry TF Structure: Bearish
13: Entry Move: Impulsive
14: Support Resistance Base: Extreme order block or resistance level
15: FIB: Trigger event at an important area, including a trendline break.
☑️ Final comments: Clear sell signal
16: 💡Decision: Ready to sell after the previous candle's low is broken
17: 🚀Entry: 0.06670
18: ✋Stop Loss: 0.6864
19: 🎯Take Profit: 0.6404
20: 😊Risk to Reward Ratio: 1:4
🕛 Expected Duration: 30 days