🔆MULTI-TIME FRAME TOP-DOWN ANALYSIS OVERVIEW☀️
1.✨Eagle Eye: Based on the multi-year double-bottom bear trap formation and bullish momentum on the yearly chart, it appears that the multi-year downtrend is over. We will have a clearer picture once the 2023 candle is formed with some bullish momentum.
2.📆Monthly: While there is a clear downtrend, there are solid reasons to believe that the bulls are in control at this level. There is a consolidation here that has swept all the downside liquidity, and now the price has reached the monthly upside fvg area, which is a decision maker level for the future direction of this pair. The key level for price is 1.2851.
3.📅Weekly: There is a clear bullish structure with a proper Bullish Order Block (BOB) trend, which is supportive and without any weakness. Another 250 point area is open.
4.🕛Daily: Bulls are in power with a buildup formation ready to break another resistance. There is a proper inverted head and shoulder pattern, indicating a bullish move is expected.
😇7 Dimension Analysis
🟢 Analysis Time Frame: Daily
Price Structure: Bullish
Pattern Candle Chart: A triple top upside breakout has been achieved, and now the market is making a strong bullish move as expected.
Volume: Every time a massive volume appears on the bullish candle, it indicates that buyers are much stronger than sellers.
Momentum UNCONVENTIONAL RSI: The RSI has shifted from a sideways to a super bullish zone, which is excellent news.
Volatility Measure Bollinger Bands: The market is walking on the band, indicating that volatility is starting to increase.
Strength ADX: Bullish
Sentiment ROC: GBP is stronger than USD in terms of the monthly rate of change period 1.
✔️ Entry Time Frame: D1
12. Entry TF Structure: Bullish
Entry Move: We will enter at the open.
Support Resistance Base: The buildup base is supportive.
FIB: No need.
☑️ Final Comments: We will buy on a breakout or reversal.
16. 💡Decision: Buy Only
🚀Entry: 1.2630
✋Stop Loss: 1.2550
🎯Take Profit: 1.2866
😊Risk-to-Reward Ratio: 1 to 2
🕛 Expected Duration: 3 days
1.✨Eagle Eye: Based on the multi-year double-bottom bear trap formation and bullish momentum on the yearly chart, it appears that the multi-year downtrend is over. We will have a clearer picture once the 2023 candle is formed with some bullish momentum.
2.📆Monthly: While there is a clear downtrend, there are solid reasons to believe that the bulls are in control at this level. There is a consolidation here that has swept all the downside liquidity, and now the price has reached the monthly upside fvg area, which is a decision maker level for the future direction of this pair. The key level for price is 1.2851.
3.📅Weekly: There is a clear bullish structure with a proper Bullish Order Block (BOB) trend, which is supportive and without any weakness. Another 250 point area is open.
4.🕛Daily: Bulls are in power with a buildup formation ready to break another resistance. There is a proper inverted head and shoulder pattern, indicating a bullish move is expected.
😇7 Dimension Analysis
🟢 Analysis Time Frame: Daily
Price Structure: Bullish
Pattern Candle Chart: A triple top upside breakout has been achieved, and now the market is making a strong bullish move as expected.
Volume: Every time a massive volume appears on the bullish candle, it indicates that buyers are much stronger than sellers.
Momentum UNCONVENTIONAL RSI: The RSI has shifted from a sideways to a super bullish zone, which is excellent news.
Volatility Measure Bollinger Bands: The market is walking on the band, indicating that volatility is starting to increase.
Strength ADX: Bullish
Sentiment ROC: GBP is stronger than USD in terms of the monthly rate of change period 1.
✔️ Entry Time Frame: D1
12. Entry TF Structure: Bullish
Entry Move: We will enter at the open.
Support Resistance Base: The buildup base is supportive.
FIB: No need.
☑️ Final Comments: We will buy on a breakout or reversal.
16. 💡Decision: Buy Only
🚀Entry: 1.2630
✋Stop Loss: 1.2550
🎯Take Profit: 1.2866
😊Risk-to-Reward Ratio: 1 to 2
🕛 Expected Duration: 3 days