The chart you provided is an analysis of the GBP/JPY pair on the 1-hour timeframe. Several technical analysis tools and concepts are used, mostly aligned with Smart Money Concepts (SMC) and institutional trading strategies. Here's a breakdown of tools:
Tools and Patterns Identified:
1. Support and Resistance Levels:*
A *Resistance Level* is marked at the top (around 191.800–192.000).
A *Support Level* is indicated near the bottom, in conjunction with Fair Value Gaps (FVGs).
2. Fair Value Gap (FVG):
The large blue shaded area represents FVGs — price imbalances where quick moves left inefficiencies in the market.
3. Order Block (OB):
The “OB” mark near the current price action identifies a likely demand zone/order block (bullish OB), suggesting a potential reversal or bounce.
4. Structure Points and Labels:
Points labeled *STW* (possibly "Stop Hunt" or “Sweep to Weak”) — indicating liquidity grabs or stop hunts.
CHOCH — Change of Character, signaling a shift in market structure.
SWEEP — indicates a liquidity sweep below previous lows.
5. *Trend Line:
A diagonal trendline from the bottom left to the center, showing previous upward structure.
6. Consolidation Area:
A yellow rectangular zone indicating sideways movement or range-bound price action before a breakout.
7. Fibonacci Extension:*
The chart seems to show a Fib extension, with a target around 3.618 level near 191.800.
8. Projection Path:
The red and orange curved arrows suggest a forecast: price might dip into the OB area (demand zone) and then rally upward toward the resistance.
9. Price Action Concepts:
There’s clear application of *liquidity theory, supply and demand, and market structure breaks* (BOS and CHCH).
10. Volume Implied by Shading:
Lighter and darker shades could imply volume or market interest zones.
This is my analysis. What you think about "GBP/JPY". write in comment section.
Tools and Patterns Identified:
1. Support and Resistance Levels:*
A *Resistance Level* is marked at the top (around 191.800–192.000).
A *Support Level* is indicated near the bottom, in conjunction with Fair Value Gaps (FVGs).
2. Fair Value Gap (FVG):
The large blue shaded area represents FVGs — price imbalances where quick moves left inefficiencies in the market.
3. Order Block (OB):
The “OB” mark near the current price action identifies a likely demand zone/order block (bullish OB), suggesting a potential reversal or bounce.
4. Structure Points and Labels:
Points labeled *STW* (possibly "Stop Hunt" or “Sweep to Weak”) — indicating liquidity grabs or stop hunts.
CHOCH — Change of Character, signaling a shift in market structure.
SWEEP — indicates a liquidity sweep below previous lows.
5. *Trend Line:
A diagonal trendline from the bottom left to the center, showing previous upward structure.
6. Consolidation Area:
A yellow rectangular zone indicating sideways movement or range-bound price action before a breakout.
7. Fibonacci Extension:*
The chart seems to show a Fib extension, with a target around 3.618 level near 191.800.
8. Projection Path:
The red and orange curved arrows suggest a forecast: price might dip into the OB area (demand zone) and then rally upward toward the resistance.
9. Price Action Concepts:
There’s clear application of *liquidity theory, supply and demand, and market structure breaks* (BOS and CHCH).
10. Volume Implied by Shading:
Lighter and darker shades could imply volume or market interest zones.
This is my analysis. What you think about "GBP/JPY". write in comment section.
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.
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.