In this USD/CAD chart (1H timeframe), you're applying a combination of *Smart Money Concepts (SMC)* and *classic technical analysis tools*. Here's the detailed breakdown:
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### *1. Smart Money Concepts (SMC) / ICT-Based Tools*
#### a. *CHoCH – Change of Character*
- Signals a *potential trend reversal*.
- Noted where minor trend directions flipped from bullish to bearish.
#### b. *BOS – Break of Structure*
- Confirms the continuation or shift in trend.
- A key element in SMC to identify whether market structure is bullish or bearish.
#### c. *OB – Order Block*
- Highlighted near the 1.40500–1.41000 zone.
- Likely to be an area where price may *pull back* before continuing lower (institutional supply zone).
#### d. *FVG – Fair Value Gap*
- Zone around 1.42000–1.42500.
- Indicates *price imbalance*, which may get “filled” by a retracement or liquidity grab.
---
### *2. Technical Analysis Tools*
#### a. *Descending Trend Line*
- Two red trend lines forming a *downward-sloping channel*.
- Indicates persistent *bearish structure* with lower highs and lower lows.
#### b. *Support & Resistance Zones*
- *Support* is marked around the 1.38500 zone (current market level).
- *Resistance* is above 1.44500.
- Used to identify key decision points or reaction zones for price.
#### c. *Projected Path (Dashed Line)*
- Shows a *forecasted bearish move*:
- A pullback to the *Order Block (OB)* or FVG
- Then continuation downward from the OB
---
### *3. No Traditional Chart Pattern (like wedges/triangles), but…*
- The price structure forms a *bearish market structure* within a *descending channel*, aligning with:
- *Lower highs and lower lows*
- Resistance from OB and FVG
---
### *Summary of Tools & Concepts Used:*
- *CHoCH* (Change of Character)
- *BOS* (Break of Structure)
- *Order Block (OB)*
- *Fair Value Gap (FVG)*
- *Descending Trend Line*
- *Support & Resistance*
- *Bearish Market Structure Projection*
---
Let me know if you want help building a trade plan from this, like possible entries or stop-loss zones based on the OB or FVG.
---
### *1. Smart Money Concepts (SMC) / ICT-Based Tools*
#### a. *CHoCH – Change of Character*
- Signals a *potential trend reversal*.
- Noted where minor trend directions flipped from bullish to bearish.
#### b. *BOS – Break of Structure*
- Confirms the continuation or shift in trend.
- A key element in SMC to identify whether market structure is bullish or bearish.
#### c. *OB – Order Block*
- Highlighted near the 1.40500–1.41000 zone.
- Likely to be an area where price may *pull back* before continuing lower (institutional supply zone).
#### d. *FVG – Fair Value Gap*
- Zone around 1.42000–1.42500.
- Indicates *price imbalance*, which may get “filled” by a retracement or liquidity grab.
---
### *2. Technical Analysis Tools*
#### a. *Descending Trend Line*
- Two red trend lines forming a *downward-sloping channel*.
- Indicates persistent *bearish structure* with lower highs and lower lows.
#### b. *Support & Resistance Zones*
- *Support* is marked around the 1.38500 zone (current market level).
- *Resistance* is above 1.44500.
- Used to identify key decision points or reaction zones for price.
#### c. *Projected Path (Dashed Line)*
- Shows a *forecasted bearish move*:
- A pullback to the *Order Block (OB)* or FVG
- Then continuation downward from the OB
---
### *3. No Traditional Chart Pattern (like wedges/triangles), but…*
- The price structure forms a *bearish market structure* within a *descending channel*, aligning with:
- *Lower highs and lower lows*
- Resistance from OB and FVG
---
### *Summary of Tools & Concepts Used:*
- *CHoCH* (Change of Character)
- *BOS* (Break of Structure)
- *Order Block (OB)*
- *Fair Value Gap (FVG)*
- *Descending Trend Line*
- *Support & Resistance*
- *Bearish Market Structure Projection*
---
Let me know if you want help building a trade plan from this, like possible entries or stop-loss zones based on the OB or FVG.
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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.