😇7 Dimension Analysis - Daily Time Frame: Identifying Potential Reversal Opportunities
1: Price Structure:
Bullish trend with an initial choch (Correction of Higher Chance) phase. The move is impulsive, but weakness is evident with an inverter hammer and a doji candle formation. Inducement is completed, and the price has changed its character. A liquidity sweep has occurred with no pullback yet. Demand area and weekly support are defined, providing a strong foundation.
2: Patterns:
🟢TREND LINES:
Multiple angles and horizontal lines indicating potential support and resistance levels.
🟢CHART PATTERNS:
Double bottom pattern with a fake breakout. Rectangle pattern already broken. A fake out occurred at the bottom.
🟢CANDLE PATTERNS:
Inverted hammer with multiple long wicks. Doji candle formation. A record session count with 6 consecutive sessions showing proper higher high closings. Change in guard pattern completed. Inside Bar pattern with the last two sessions forming an inside hammer and an inside doji.
3: Volume:
High volume at the start of the swing, but currently low volume.
4: Momentum UNCONVENTIONAL Rsi:
🟢 Sideways to bullish .
🟢 Range shift from Bearish to sideways.
5: Volatility measure Bollinger bands:
🟢 Squeeze breakout occurred, but unable to sustain. Now, middle band support will decide further direction.
🟢 W formation completed, suggesting a move towards the target.
🟢 Dual band derivation 1 supported.
6: Strength ADX:
Bulls are currently in power.
7: Sentiment ROC:
The rate of change indicates that EUR is stronger than GBP.
✔️ Entry Time Frame: H1
✅ Entry TF Structure: Bearish
☑️ Entry Move: Corrective wait till Choch
✔ Support Resistance Base: Third Higher Low (3rd HL) May push prices into trigger area
➕ FIB: Trigger event activated
↕️ Trend line breakout: Wait for confirmation. after breakout we will wait price can finish corrective move
☑️ Final Comments: Waiting for the completion of the corrective move.
💡 Decision: Patience until the price completes its correction.
🚀 Entry: 0.8591
✋ Stop Loss: 0.8499
🎯 Take Profit: 0.8755
😊 Risk to Reward Ratio: 1:3
🕛 Expected Duration: 10 days.
1: Price Structure:
Bullish trend with an initial choch (Correction of Higher Chance) phase. The move is impulsive, but weakness is evident with an inverter hammer and a doji candle formation. Inducement is completed, and the price has changed its character. A liquidity sweep has occurred with no pullback yet. Demand area and weekly support are defined, providing a strong foundation.
2: Patterns:
🟢TREND LINES:
Multiple angles and horizontal lines indicating potential support and resistance levels.
🟢CHART PATTERNS:
Double bottom pattern with a fake breakout. Rectangle pattern already broken. A fake out occurred at the bottom.
🟢CANDLE PATTERNS:
Inverted hammer with multiple long wicks. Doji candle formation. A record session count with 6 consecutive sessions showing proper higher high closings. Change in guard pattern completed. Inside Bar pattern with the last two sessions forming an inside hammer and an inside doji.
3: Volume:
High volume at the start of the swing, but currently low volume.
4: Momentum UNCONVENTIONAL Rsi:
🟢 Sideways to bullish .
🟢 Range shift from Bearish to sideways.
5: Volatility measure Bollinger bands:
🟢 Squeeze breakout occurred, but unable to sustain. Now, middle band support will decide further direction.
🟢 W formation completed, suggesting a move towards the target.
🟢 Dual band derivation 1 supported.
6: Strength ADX:
Bulls are currently in power.
7: Sentiment ROC:
The rate of change indicates that EUR is stronger than GBP.
✔️ Entry Time Frame: H1
✅ Entry TF Structure: Bearish
☑️ Entry Move: Corrective wait till Choch
✔ Support Resistance Base: Third Higher Low (3rd HL) May push prices into trigger area
➕ FIB: Trigger event activated
↕️ Trend line breakout: Wait for confirmation. after breakout we will wait price can finish corrective move
☑️ Final Comments: Waiting for the completion of the corrective move.
💡 Decision: Patience until the price completes its correction.
🚀 Entry: 0.8591
✋ Stop Loss: 0.8499
🎯 Take Profit: 0.8755
😊 Risk to Reward Ratio: 1:3
🕛 Expected Duration: 10 days.