The chart of (GBPJPY, 1D timeframe on TradingView), here’s a breakdown of the *tools, patterns, and concepts* used:
---
### *1. Contracting Pattern (Triangle)*
- Clearly labeled as a *Contracting Pattern*.
- Formed by two *converging trendlines* (support and resistance).
- This pattern suggests *price compression* and potential breakout (in this case, downward breakout is highlighted).
---
### *2. Trend Lines*
- Multiple *trend lines* used to define:
- The triangle/contracting structure.
- Support and resistance levels based on swing highs/lows.
---
### *3. Breakout Mark*
- A *"Break-out"* label marks where price broke below the lower trendline.
- Indicates potential for *bearish continuation*.
---
### *4. Supply & Demand Zones*
- *Pink shaded areas* represent *supply zones* (potential sell areas).
- *Blue shaded areas* represent *demand zones* (potential buy zones).
---
### *5. BOS (Break of Structure)*
- Used to highlight key moments when price structure *shifted*.
- Common in *smart money concepts*.
---
### *6. CHoCH (Change of Character)*
- Several "CHoCH" labels marking *trend reversals* or shifts in market direction.
- Also from smart money/ICT strategies.
---
### *7. Liquidity Concepts*
- Red arrows mark *equal highs, possibly indicating **liquidity pools*.
- These are areas institutions may target before reversing price.
---
### *8. Price Action Markers*
- Arrows (turquoise and red) showing *reaction points* — highs, lows, and breakout zones.
---
### *Summary of Key Concepts Used:*
- *Contracting Triangle Pattern*
- *Smart Money Concepts* (BOS, CHOCH, Liquidity)
- *Trendlines*
- *Supply & Demand Zones*
- *Breakout Analysis*
---
This chart is a great example of a hybrid approach: *classic technical analysis patterns + smart money principles*.
Want help forecasting possible moves or confirmation entries from this setup?
---
### *1. Contracting Pattern (Triangle)*
- Clearly labeled as a *Contracting Pattern*.
- Formed by two *converging trendlines* (support and resistance).
- This pattern suggests *price compression* and potential breakout (in this case, downward breakout is highlighted).
---
### *2. Trend Lines*
- Multiple *trend lines* used to define:
- The triangle/contracting structure.
- Support and resistance levels based on swing highs/lows.
---
### *3. Breakout Mark*
- A *"Break-out"* label marks where price broke below the lower trendline.
- Indicates potential for *bearish continuation*.
---
### *4. Supply & Demand Zones*
- *Pink shaded areas* represent *supply zones* (potential sell areas).
- *Blue shaded areas* represent *demand zones* (potential buy zones).
---
### *5. BOS (Break of Structure)*
- Used to highlight key moments when price structure *shifted*.
- Common in *smart money concepts*.
---
### *6. CHoCH (Change of Character)*
- Several "CHoCH" labels marking *trend reversals* or shifts in market direction.
- Also from smart money/ICT strategies.
---
### *7. Liquidity Concepts*
- Red arrows mark *equal highs, possibly indicating **liquidity pools*.
- These are areas institutions may target before reversing price.
---
### *8. Price Action Markers*
- Arrows (turquoise and red) showing *reaction points* — highs, lows, and breakout zones.
---
### *Summary of Key Concepts Used:*
- *Contracting Triangle Pattern*
- *Smart Money Concepts* (BOS, CHOCH, Liquidity)
- *Trendlines*
- *Supply & Demand Zones*
- *Breakout Analysis*
---
This chart is a great example of a hybrid approach: *classic technical analysis patterns + smart money principles*.
Want help forecasting possible moves or confirmation entries from this setup?
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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.
Join Telegram Channel Free t.me/+lvC6DGTZAqk3NTI8 "Explore daily insights: 4/5 signals meticulously analyzed, ensuring an impressive 99% accuracy in forex & crypto trades t.me/+XHUwVU1EKek0Nzlk
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.