This *EUR/JPY* chart on the *30-minute timeframe* incorporates *Smart Money Concepts (SMC)* and *technical price action strategies. Here are the key **patterns and tools* used in the analysis:
### *1. Chart Patterns & Market Structure*
- *Ascending Channel*: The price formed a rising wedge pattern, with higher highs and higher lows (marked with green points).
- *Symmetrical Triangle*: The price is consolidating within a triangle before a potential breakout.
- *CHoCH (Change of Character)*: Indicating shifts in trend direction.
- *Bullish Trend Line*: Initially supported the price before breaking into consolidation.
### *2. Institutional Concepts*
- *Order Block (OB)*: A demand zone where price is expected to react.
- *IDM (Inducement)*: Acting as liquidity before the expected bullish move.
- *SSL (Sell-Side Liquidity)*: Marked at lower levels where liquidity might be grabbed before a reversal.
### *3. Price Action & Entry Strategy*
- *Retest & Breakout Expectation*: The price is expected to react from the OB, break above the triangle, and continue upward.
- *Bullish Target Projection*: The blue box indicates a measured move to the upside after a breakout.
This setup suggests a *potential bullish continuation* after price mitigates liquidity and order block levels. Let me know if you need a more detailed breakdown!
### *1. Chart Patterns & Market Structure*
- *Ascending Channel*: The price formed a rising wedge pattern, with higher highs and higher lows (marked with green points).
- *Symmetrical Triangle*: The price is consolidating within a triangle before a potential breakout.
- *CHoCH (Change of Character)*: Indicating shifts in trend direction.
- *Bullish Trend Line*: Initially supported the price before breaking into consolidation.
### *2. Institutional Concepts*
- *Order Block (OB)*: A demand zone where price is expected to react.
- *IDM (Inducement)*: Acting as liquidity before the expected bullish move.
- *SSL (Sell-Side Liquidity)*: Marked at lower levels where liquidity might be grabbed before a reversal.
### *3. Price Action & Entry Strategy*
- *Retest & Breakout Expectation*: The price is expected to react from the OB, break above the triangle, and continue upward.
- *Bullish Target Projection*: The blue box indicates a measured move to the upside after a breakout.
This setup suggests a *potential bullish continuation* after price mitigates liquidity and order block levels. Let me know if you need a more detailed breakdown!
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