🔆MULTI-TIME FRAME TOP-DOWN ANALYSIS OVERVIEW☀️
1:✨Eagle eye: The 12-month timeframe shows a clear bearish structure with the formation of a 3rd higher low (HL), indicating a continuation of the bearish move. The overall big picture is not favorable for the dollar. Last year, there was a large wick candle with a tap of the ultimate high order block.
2:📆Monthly: Currently, there is a clear bullish trend, but there is a visible consolidation (choch) on the monthly timeframe. A high volume candle at the top is followed by an inside doji and a fall in price. The price has been consolidating for the past 5 months, but there is potential for further downside towards the recent order block around 98.00, which can be a profit booking area.
3:📅Weekly: The price has confirmed a valid high and formed an internal consolidation (choch), but the low is yet to be confirmed. Based on the bigger picture, we anticipate further downside moves until the 100 area. We should hold our sell positions until the price taps the order block area at 100. A corrective move is expected once it reaches that level.
4:🕛Daily: The daily timeframe shows a bearish structure with potential for further lows. The last low is still protected, but given the bearish trend, there is a high chance that bears can push the price towards the 100 level during the current impulsive move.
😇7 Dimension analysis
🟢 analysis time frame: Daily
5: 1 Price Structure: Bearish
6: 2 Pattern Candle Chart: A window (gap) is present, which can act as a Continuation In Pattern (CIP). Additionally, a descending triangle is putting downward pressure on the price.
7: 3 Volume: Volume increases during bearish moves, indicating more selling pressure. Until the market gives a clear signal, it is not advisable to consider buying at any level.
8: 4 Momentum UNCONVENTIONAL Rsi: The market has lost momentum, but it is not yet strongly in favor of the bears. A strong rejection at the window area or resistance at the 60 level is needed for price confirmation.
9: 5 Volatility measure Bollinger bands: After a big volatile move, the price needs to calm down and may enter a period of consolidation or make a minor correction towards the 20-day moving average before continuing its downside move towards the target.
10: 6 Strength ADX: The ADX indicates a sideways trend at this point.
11: 7 Sentiment ROC: There is no strength in the sentiment ROC.
✔️ Entry Time Frame: H1
12: Entry TF Structure: After a strong bearish trend, there is a consolidation (choch) pattern forming. Upon closer observation, the daily window, extreme order block, and structure high coincide at the same point, making it a strong supply area or rejection point. We will place a sell order when a strong signal is formed.
13: Entry Move: The entry move must be impulsive.
14: Support Resistance Base: Daily window, extreme order block, structure high.
15: FIB: Trigger event done based on H1 timeframe.
☑️ Final comments: Open sell entries at the market opening, and if the price goes further up near the window, consider a second sell entry. A third sell entry can be placed if the market creates an internal Breakout-Sell (BOS) signal.
16: 💡Decision: Sell
17: 🚀Entry: Sell between 102.885 and 102.2
18: ✋Stop Loss: 103.175
19: 🎯Take Profit: 1st target at 100.5, 2nd target at 99.5
20: 😊Risk to Reward Ratio: 1:4
🕛 Expected Duration: 10 days
1:✨Eagle eye: The 12-month timeframe shows a clear bearish structure with the formation of a 3rd higher low (HL), indicating a continuation of the bearish move. The overall big picture is not favorable for the dollar. Last year, there was a large wick candle with a tap of the ultimate high order block.
2:📆Monthly: Currently, there is a clear bullish trend, but there is a visible consolidation (choch) on the monthly timeframe. A high volume candle at the top is followed by an inside doji and a fall in price. The price has been consolidating for the past 5 months, but there is potential for further downside towards the recent order block around 98.00, which can be a profit booking area.
3:📅Weekly: The price has confirmed a valid high and formed an internal consolidation (choch), but the low is yet to be confirmed. Based on the bigger picture, we anticipate further downside moves until the 100 area. We should hold our sell positions until the price taps the order block area at 100. A corrective move is expected once it reaches that level.
4:🕛Daily: The daily timeframe shows a bearish structure with potential for further lows. The last low is still protected, but given the bearish trend, there is a high chance that bears can push the price towards the 100 level during the current impulsive move.
😇7 Dimension analysis
🟢 analysis time frame: Daily
5: 1 Price Structure: Bearish
6: 2 Pattern Candle Chart: A window (gap) is present, which can act as a Continuation In Pattern (CIP). Additionally, a descending triangle is putting downward pressure on the price.
7: 3 Volume: Volume increases during bearish moves, indicating more selling pressure. Until the market gives a clear signal, it is not advisable to consider buying at any level.
8: 4 Momentum UNCONVENTIONAL Rsi: The market has lost momentum, but it is not yet strongly in favor of the bears. A strong rejection at the window area or resistance at the 60 level is needed for price confirmation.
9: 5 Volatility measure Bollinger bands: After a big volatile move, the price needs to calm down and may enter a period of consolidation or make a minor correction towards the 20-day moving average before continuing its downside move towards the target.
10: 6 Strength ADX: The ADX indicates a sideways trend at this point.
11: 7 Sentiment ROC: There is no strength in the sentiment ROC.
✔️ Entry Time Frame: H1
12: Entry TF Structure: After a strong bearish trend, there is a consolidation (choch) pattern forming. Upon closer observation, the daily window, extreme order block, and structure high coincide at the same point, making it a strong supply area or rejection point. We will place a sell order when a strong signal is formed.
13: Entry Move: The entry move must be impulsive.
14: Support Resistance Base: Daily window, extreme order block, structure high.
15: FIB: Trigger event done based on H1 timeframe.
☑️ Final comments: Open sell entries at the market opening, and if the price goes further up near the window, consider a second sell entry. A third sell entry can be placed if the market creates an internal Breakout-Sell (BOS) signal.
16: 💡Decision: Sell
17: 🚀Entry: Sell between 102.885 and 102.2
18: ✋Stop Loss: 103.175
19: 🎯Take Profit: 1st target at 100.5, 2nd target at 99.5
20: 😊Risk to Reward Ratio: 1:4
🕛 Expected Duration: 10 days