π TOPDOWN Overview
A robust rejection at the daily timeframe, coupled with an H1 Change of Structure (COS), suggests the end of the short-term bullish move.
π 7 Dimension Analysis
Time Frame: H4
1οΈβ£ Swing Structure: Initially bullish but rejected at a potent daily Point of Interest (POI)
π’ Structure Behavior: Change of Structure (Choch)
π’ Swing Move: Impulsive
π’ Inducement: Completed
π’ Internal Structure: Completely bearish
π’ Ext OB: Unmitigated
π’ Supply Zone Rejection: Observed
π’ Traps: Fakeout at the top and supply area
π’ Time Frame Confluence: Daily and H4
2οΈβ£ Pattern
π’ CHART PATTERNS: Reversal pattern with a double top and liquidity sweep, indicating a potential reversal
π’ CANDLE PATTERNS: Fakeout reversal after a Record Session count, Momentum with strict engulfing at the top, Tweezer pattern with liquidity sweep, Tower Top pattern observed with Climax players presence and follow-up, increasing chances of reversal
π’ Gaps and Other Patterns: To be observed at the opening
3οΈβ£ Volume
π’ High volume on the fakeout candle and substantial volume at the swing's start and high points
4οΈβ£ Momentum RSI
π’ Zone: Sideways
π’ Range Shift: Almost shifted from bullish to sideways
π’ Divergence: Significant divergence found at the top level and rejection areas
5οΈβ£ Volatility Bollinger Bands
π’ Middle band acting as resistance
π’ Squeeze breakout and walking on the band awaiting
π’ M pattern observed at the top
6οΈβ£ Strength According to ROC
π’ Values: CAD 1.12 vs. JPY 2.88
7οΈβ£ Sentiment
βοΈ Trend line breakout awaiting, but on the trigger time frame, it's already done
π‘ Decision: Open a sell position right at the open
π Entry: 108.489
β Stop Loss: 109.333
π― Take Profit: 102.1
2nd Exit if Internal Structure changes, also Exit 3rd Trendline Breakout, FOMO
π Risk to Reward Ratio: 6
π Expected Duration: 30 days
SUMMARY:
The analysis indicates a reversal opportunity. The sell position is recommended with an entry at 108.489, stop loss at 109.333, take profit at 102.1, and a risk-to-reward ratio of 6, expecting completion in approximately 30 days.
A robust rejection at the daily timeframe, coupled with an H1 Change of Structure (COS), suggests the end of the short-term bullish move.
π 7 Dimension Analysis
Time Frame: H4
1οΈβ£ Swing Structure: Initially bullish but rejected at a potent daily Point of Interest (POI)
π’ Structure Behavior: Change of Structure (Choch)
π’ Swing Move: Impulsive
π’ Inducement: Completed
π’ Internal Structure: Completely bearish
π’ Ext OB: Unmitigated
π’ Supply Zone Rejection: Observed
π’ Traps: Fakeout at the top and supply area
π’ Time Frame Confluence: Daily and H4
2οΈβ£ Pattern
π’ CHART PATTERNS: Reversal pattern with a double top and liquidity sweep, indicating a potential reversal
π’ CANDLE PATTERNS: Fakeout reversal after a Record Session count, Momentum with strict engulfing at the top, Tweezer pattern with liquidity sweep, Tower Top pattern observed with Climax players presence and follow-up, increasing chances of reversal
π’ Gaps and Other Patterns: To be observed at the opening
3οΈβ£ Volume
π’ High volume on the fakeout candle and substantial volume at the swing's start and high points
4οΈβ£ Momentum RSI
π’ Zone: Sideways
π’ Range Shift: Almost shifted from bullish to sideways
π’ Divergence: Significant divergence found at the top level and rejection areas
5οΈβ£ Volatility Bollinger Bands
π’ Middle band acting as resistance
π’ Squeeze breakout and walking on the band awaiting
π’ M pattern observed at the top
6οΈβ£ Strength According to ROC
π’ Values: CAD 1.12 vs. JPY 2.88
7οΈβ£ Sentiment
βοΈ Trend line breakout awaiting, but on the trigger time frame, it's already done
π‘ Decision: Open a sell position right at the open
π Entry: 108.489
β Stop Loss: 109.333
π― Take Profit: 102.1
2nd Exit if Internal Structure changes, also Exit 3rd Trendline Breakout, FOMO
π Risk to Reward Ratio: 6
π Expected Duration: 30 days
SUMMARY:
The analysis indicates a reversal opportunity. The sell position is recommended with an entry at 108.489, stop loss at 109.333, take profit at 102.1, and a risk-to-reward ratio of 6, expecting completion in approximately 30 days.