The chart I've shared for GBP/USD (4-hour timeframe) incorporates several technical analysis tools and patterns. Here's a breakdown of what's being used:
### *1. Tools and Concepts Used:*
- *Trend Channel*:
- A clear upward sloping channel is drawn with *support and resistance levels* forming the boundaries.
- The price is oscillating within this channel, showing an overall bullish trend.
- *Support and Resistance Levels*:
- Marked with horizontal lines.
- *Resistance Level* near 1.33457.
- *Support Level* around 1.28156 and other zones below.
- *Price Action Labels*:
- *CHoCH*: Change of Character – indicates potential trend reversal points.
- *BOS*: Break of Structure – confirms trend continuation or change.
- These are key concepts in Smart Money Concept (SMC) trading.
- *Order Blocks (OB)*:
- Highlighted rectangles mark *demand zones* (OB), used to anticipate potential price reversals or continuations.
- *Target Zone*:
- Marked in red, indicating a potential target for the upward move (around the upper resistance of the channel).
- *Arrow Indicators*:
- Red arrows indicate likely resistance/reversal points (sell signals).
- Green arrows suggest support/bounce areas (buy signals).
- *Fibonacci Style Projection/Correction*:
- While not explicitly labeled as Fibonacci, the dashed arrows and retracement-like moves suggest some predictive modeling of price movement.
### *2. Patterns Observed:*
- *Channel Pattern*:
- A rising channel showing higher highs and higher lows.
- *Order Block & Break of Structure Combo*:
- Used to identify entries after a pullback or retracement to a previous OB area.
- *Double Top Formation* (Near Target Area):
- Two peaks near the resistance zone may suggest a potential reversal or strong resistance.
### *3. Time & Price Markers:*
- Dates range from January to early May 2025.
- Price levels are tightly tracked, showing multiple reaction levels between *1.23 to 1.33+*.
Would you like help breaking down a potential trade setup from this chart or an explanation of any specific part?
### *1. Tools and Concepts Used:*
- *Trend Channel*:
- A clear upward sloping channel is drawn with *support and resistance levels* forming the boundaries.
- The price is oscillating within this channel, showing an overall bullish trend.
- *Support and Resistance Levels*:
- Marked with horizontal lines.
- *Resistance Level* near 1.33457.
- *Support Level* around 1.28156 and other zones below.
- *Price Action Labels*:
- *CHoCH*: Change of Character – indicates potential trend reversal points.
- *BOS*: Break of Structure – confirms trend continuation or change.
- These are key concepts in Smart Money Concept (SMC) trading.
- *Order Blocks (OB)*:
- Highlighted rectangles mark *demand zones* (OB), used to anticipate potential price reversals or continuations.
- *Target Zone*:
- Marked in red, indicating a potential target for the upward move (around the upper resistance of the channel).
- *Arrow Indicators*:
- Red arrows indicate likely resistance/reversal points (sell signals).
- Green arrows suggest support/bounce areas (buy signals).
- *Fibonacci Style Projection/Correction*:
- While not explicitly labeled as Fibonacci, the dashed arrows and retracement-like moves suggest some predictive modeling of price movement.
### *2. Patterns Observed:*
- *Channel Pattern*:
- A rising channel showing higher highs and higher lows.
- *Order Block & Break of Structure Combo*:
- Used to identify entries after a pullback or retracement to a previous OB area.
- *Double Top Formation* (Near Target Area):
- Two peaks near the resistance zone may suggest a potential reversal or strong resistance.
### *3. Time & Price Markers:*
- Dates range from January to early May 2025.
- Price levels are tightly tracked, showing multiple reaction levels between *1.23 to 1.33+*.
Would you like help breaking down a potential trade setup from this chart or an explanation of any specific part?
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Just for One More Smile © free
telegram signals t.me/+QxrfbzZuGCZhN2U0
V A.I. Data Scientist
V 20+ years of experience
* Forex V Crypto V Indices
C o m m o d i t y t.me/+QxrfbzZuGCZhN2U0
Q u i c k Learn Trading Tips
telegram signals t.me/+QxrfbzZuGCZhN2U0
V A.I. Data Scientist
V 20+ years of experience
* Forex V Crypto V Indices
C o m m o d i t y t.me/+QxrfbzZuGCZhN2U0
Q u i c k Learn Trading Tips
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.