Chart Pattern:
On the left side, there's a descending channel (marked in blue) which breaks to the upside, indicating a potential reversal.
After the breakout, the price moves up significantly, forming a higher high.
Support & Resistance:
Resistance Zone: Marked at the top in red, showing a zone where price previously reversed downward.
Support Zone: Marked in green, where price found support earlier and reversed upward.
Price Action Structure:
BOS (Break of Structure): Shows a bullish break of previous highs, indicating a bullish trend initiation.
CHOCH (Change of Character): Indicates a bearish shift after the market made a new high and then reversed sharply downward.
Fibonacci Retracement:
A Fibonacci retracement is plotted from the swing low to the swing high.
Key levels (0.382, 0.5, 0.618, 0.705, 0.786) are displayed, with 0.618–0.786 being potential reversal zones for continuation.
Trade Setup:
Entry Zone: Around 1.1385 marked with a green box.
Stop Loss: Below 1.1341, marked in red.
Target: Around 1.1513, aligning with the 0.786 Fibonacci level.
Indicators:
No specific indicators visible, mainly price action, structure, and Fibonacci.
Market Sentiment:
The setup suggests a bullish bias, expecting a retracement and then a continuation to the upside.
On the left side, there's a descending channel (marked in blue) which breaks to the upside, indicating a potential reversal.
After the breakout, the price moves up significantly, forming a higher high.
Support & Resistance:
Resistance Zone: Marked at the top in red, showing a zone where price previously reversed downward.
Support Zone: Marked in green, where price found support earlier and reversed upward.
Price Action Structure:
BOS (Break of Structure): Shows a bullish break of previous highs, indicating a bullish trend initiation.
CHOCH (Change of Character): Indicates a bearish shift after the market made a new high and then reversed sharply downward.
Fibonacci Retracement:
A Fibonacci retracement is plotted from the swing low to the swing high.
Key levels (0.382, 0.5, 0.618, 0.705, 0.786) are displayed, with 0.618–0.786 being potential reversal zones for continuation.
Trade Setup:
Entry Zone: Around 1.1385 marked with a green box.
Stop Loss: Below 1.1341, marked in red.
Target: Around 1.1513, aligning with the 0.786 Fibonacci level.
Indicators:
No specific indicators visible, mainly price action, structure, and Fibonacci.
Market Sentiment:
The setup suggests a bullish bias, expecting a retracement and then a continuation to the upside.
FREE Trading Signals ..
t.me/Smart_Money_Trader_SMC
Forex, Gold & Crypto Signals with detailed analysis & get consistent results..
t.me/TradingViewAccurate786
t.me/Smart_Money_Trader_SMC
Forex, Gold & Crypto Signals with detailed analysis & get consistent results..
t.me/TradingViewAccurate786
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
FREE Trading Signals ..
t.me/Smart_Money_Trader_SMC
Forex, Gold & Crypto Signals with detailed analysis & get consistent results..
t.me/TradingViewAccurate786
t.me/Smart_Money_Trader_SMC
Forex, Gold & Crypto Signals with detailed analysis & get consistent results..
t.me/TradingViewAccurate786
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.