7 Dimension analysis For AUDCHF
Updated
🕛 TOPDOWN Analysis - Navigating Crucial Support Levels
Overview: The monthly perspective reveals a historical support level established in March 2020, where strong buying interest persists. Recent monthly candles, with wicks and a liquidity sweep, suggest a potential consolidation phase. On the weekly chart, a descending triangle formation is evident, indicating a period of consolidation. However, this doesn't imply missing swing opportunities. Transitioning to the daily chart, the bearish swing structure is clear, but with potential for bullish reversal.
😇 7 Dimension Analysis
Time Frame: Daily
1️⃣ Swing Structure: Bearish
🟢 Structure Behavior/BoS: Break of Structure
🟢 Swing Move: Impulsive; inducement completed.
🟢 Pull Back: 1st pullback underway, possibly deep.
🟢 Internal Structure: Sideways; confluence across multiple time frames leading to confusion.
🟢 Resistance/Support Areas: Complex interplay with resistance, supply, distribution, and internal trendlines. Triangle breakout can guide targets.
Traps: Internal trendline breakout considerations for potential false moves.
2️⃣ Pattern
🟢 CHART PATTERNS
Reversal
Presence of rounding patterns and a double bottom.
Continuation
Descending Triangle; awaiting breakout confirmation.
🟢 CANDLE PATTERNS
Notable Observations:
Bullish candles dominating the area.
Blended combo of three candles signals bullish momentum.
3️⃣ Volume: Bullish volume dominance based on Volume Spread Analysis.
4️⃣ Momentum RSI:
🟢 Momentum State: Sideways, flat range.
🟢 Range Shift: Yet to shift; sideways to bullish divergence.
🟢 Divergence: Strong bullish divergence observed.
🟢 Loud Moves: Bullish loud move signifies market control.
🟢 Oversold Rejections: Three rejections, indicating buyer strength.
5️⃣ Volatility Bollinger Bands:
🟢 Middle Band Support: Provides bullish support.
🟢 Possible Compression: Suggests potential volatility before a bullish move.
6️⃣ Strength
Rate of Change: AUD stronger than CHF.
✔️ Entry Time Frame: Daily
✅ Entry TF Structure: Sideways
☑️ Current Move: Impulsive
✔ Support/Resistance Base: Triangle trendlines
☑️ Candles Behavior: Ranging
☑️ FIB Trigger Event: Confirmed.
☑️ Trendline Breakout: Awaited.
☑️ Final Comments: Wait for breakout confirmation.
💡 Decision: Exercise patience.
🚀 Entry: Await breakout confirmation
✋ Stop Loss:
🎯 Take Profit: 2nd Exit if Internal Structure Changes, 3rd Trendline Breakout or FOMO.
😊 Risk to Reward Ratio:
🕛 Expected Duration:
SUMMARY: The analysis highlights a crucial support level from March 2020, emphasizing potential consolidation. The weekly descending triangle suggests a pause in the trend, leading to a more detailed daily analysis. The complex interplay of support and resistance areas demands caution, with a focus on potential breakout scenarios. Patience is key, with detailed considerations of volume, momentum, and candle patterns in this nuanced market situation.
Overview: The monthly perspective reveals a historical support level established in March 2020, where strong buying interest persists. Recent monthly candles, with wicks and a liquidity sweep, suggest a potential consolidation phase. On the weekly chart, a descending triangle formation is evident, indicating a period of consolidation. However, this doesn't imply missing swing opportunities. Transitioning to the daily chart, the bearish swing structure is clear, but with potential for bullish reversal.
😇 7 Dimension Analysis
Time Frame: Daily
1️⃣ Swing Structure: Bearish
🟢 Structure Behavior/BoS: Break of Structure
🟢 Swing Move: Impulsive; inducement completed.
🟢 Pull Back: 1st pullback underway, possibly deep.
🟢 Internal Structure: Sideways; confluence across multiple time frames leading to confusion.
🟢 Resistance/Support Areas: Complex interplay with resistance, supply, distribution, and internal trendlines. Triangle breakout can guide targets.
Traps: Internal trendline breakout considerations for potential false moves.
2️⃣ Pattern
🟢 CHART PATTERNS
Reversal
Presence of rounding patterns and a double bottom.
Continuation
Descending Triangle; awaiting breakout confirmation.
🟢 CANDLE PATTERNS
Notable Observations:
Bullish candles dominating the area.
Blended combo of three candles signals bullish momentum.
3️⃣ Volume: Bullish volume dominance based on Volume Spread Analysis.
4️⃣ Momentum RSI:
🟢 Momentum State: Sideways, flat range.
🟢 Range Shift: Yet to shift; sideways to bullish divergence.
🟢 Divergence: Strong bullish divergence observed.
🟢 Loud Moves: Bullish loud move signifies market control.
🟢 Oversold Rejections: Three rejections, indicating buyer strength.
5️⃣ Volatility Bollinger Bands:
🟢 Middle Band Support: Provides bullish support.
🟢 Possible Compression: Suggests potential volatility before a bullish move.
6️⃣ Strength
Rate of Change: AUD stronger than CHF.
✔️ Entry Time Frame: Daily
✅ Entry TF Structure: Sideways
☑️ Current Move: Impulsive
✔ Support/Resistance Base: Triangle trendlines
☑️ Candles Behavior: Ranging
☑️ FIB Trigger Event: Confirmed.
☑️ Trendline Breakout: Awaited.
☑️ Final Comments: Wait for breakout confirmation.
💡 Decision: Exercise patience.
🚀 Entry: Await breakout confirmation
✋ Stop Loss:
🎯 Take Profit: 2nd Exit if Internal Structure Changes, 3rd Trendline Breakout or FOMO.
😊 Risk to Reward Ratio:
🕛 Expected Duration:
SUMMARY: The analysis highlights a crucial support level from March 2020, emphasizing potential consolidation. The weekly descending triangle suggests a pause in the trend, leading to a more detailed daily analysis. The complex interplay of support and resistance areas demands caution, with a focus on potential breakout scenarios. Patience is key, with detailed considerations of volume, momentum, and candle patterns in this nuanced market situation.
Trade active
Now that the market has breached the trigger area, our next move is to await a valid breakout closure. If the price confirms a legitimate breakout by closing outside, we'll then proceed to enter the long opportunity."also will share entry and exit levels
Trade active
With the price providing a confirmed breakout, the entry trigger has been activated. We can now enter the trade and hold until reaching the next target point. Enjoy the ride!"Trade active
The price indicates a reversal with a substantial momentum candle, coupled with a trendline fakeout. There's a high probability that this entry might trigger our stop loss. In the event of a stop loss hit, we can promptly initiate a reverse position."Trade closed: stop reached
with a fake out stop is reeached now we can open a reverse trade 0.5853 stoplose and 0.5407 tp 1:4 RRTrade active
As we discussed, we opened a reverse trade when our stop-loss was reached, and bearish momentum is now gaining. We will hold this position until our reverse target is reached."Trade active
"Although the last Tuesday and Friday candles closed on the bullish side, the internal structure remains valid and intact. We will maintain our position until the target is reached."Trade active
"As you recall, we took a reversal position at this point. Currently, our position is in profit and moving towards our downside target. Hold it."Trade closed: stop reached
this trade gives us double sided lose
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