🕛 TOPDOWN - Bearish Momentum in a Multi-Month Downtrend
Overview: The monthly and weekly analyses indicate a multi-month downtrend with the initiation of a current impulsive bearish move. The focus is on the daily timeframe for a detailed perspective.
😇 7 Dimension Analysis
Time Frame: Daily
1️⃣ Swing Structure: Bearish
🟢 Structure Behavior: Break of Structure (BoS)
🟢 Swing Move: Bearish impulsive move in progress, marked by a proper high.
🟢 Inducement: Completed.
🟢 Pull Back 1st: Deep pullback with a reversal and bearish momentum.
🟢 Internal Structure: Choch (Contraction) observed.
Ext OB mitigated, indicating a potential reversal.
🟢 Resistance/Supply/Distribution/Premier: Multiple indicators, including trendlines, suggest further downward movement.
2️⃣ Pattern
🟢 CHART PATTERNS
Raising Wedge breakout signals bearish continuation.
🟢 CANDLE PATTERNS
ey Considerations:
Record session count with a Change in Guard (engulfing) candle, a strong reversal sign.
Momentum signals, including strict engulfing and a last bullish FOMO candle.
3️⃣ Volume: Pivot points of fixed range volume show volatile reversal signals. Average volume during correction move reinforces the bearish bias.
4️⃣ Momentum RSI:
🟢 Momentum State: Sideways zone.
🟢 Range Shift: From bullish to sideways with a loud move.
🟢 Loud Moves: Bearish loud move observed.
🟢 Overbought/Oversold Rejections: Count of 3.
5️⃣ Volatility Bollinger Bands:
🟢 Middle band provides support, but momentum suggests potential breakage.
🟢 Formation of a W pattern at the top of the move.
6️⃣ Strength: USD is stronger than EUR, adding to the bearish bias.
✔️ Entry Time Frame: Daily
✅ Entry TF Structure: Bearish
☑️ Current Move: Impulsive
✔ Support/Resistance Base: Supply area and extreme Order Block.
☑️ Candles Behavior: RSC, Momentum - both patterns are bearish.
☑️ Trend Line Breakout: Confirmed.
☑️ Final Comments: Sell right now.
💡 Decision: SELL.
🚀 Entry: 1.08450
✋ Stop Loss: 1.1030
🎯 Take Profit: 1.0143
2nd Exit if Internal Structure Changes, 3rd Trendline Breakout, FOMO.
😊 Risk to Reward Ratio: 1:3.75
🕛 Expected Duration: 30 days
SUMMARY: The analysis strongly supports a bearish momentum, aligning with the ongoing multi-month downtrend. Key indicators such as candle patterns, volume considerations, and momentum signals reinforce the sell decision. The strategy involves clear risk management and exit criteria.