he chart shown in the image is a technical analysis of the *EUR/AUD* currency pair on a *30-minute timeframe* using *TradingView*. The tools and patterns identified in the chart include:
### *Tools Used:*
1. *Trendlines & Channels:*
- A *descending channel* (marked with black trendlines) shows the previous downtrend.
- A breakout above this channel suggests a trend reversal.
2. *Support & Resistance:*
- A *resistance* level is marked at *1.7252*.
- *Support zones* are labeled as *OB (Order Block)* and *SSL (Sell-side Liquidity)*.
3. *Order Blocks (OB):*
- *OB (Order Block)* is marked as a key area where price may retest before continuing upward.
4. *Breakout Label:*
- A *Break-out* label shows where the price broke out of the descending structure.
5. *Swing Highs & Lows:*
- *LH (Lower High) and LL (Lower Low)* during the downtrend.
- A *new HH (Higher High)* and *HL (Higher Low)* indicate a trend reversal.
6. *Annotations & Arrows:*
- Red arrows show *lower highs (LH)* in the downtrend.
- Green arrows indicate *lower lows (LL)* and potential reversal points.
- Blue upward arrows show bullish momentum.
7. *Price Projection:*
- A projected *bullish trendline* suggests the expectation of continued upward movement.
### *Pattern Identified:*
- *Descending Channel (Bearish Trend) → Breakout → Trend Reversal to Bullish.*
- The price is expected to retest the *Order Block (OB)* and continue rising.
Would you like further analysis or trade insights based on this setup?
### *Tools Used:*
1. *Trendlines & Channels:*
- A *descending channel* (marked with black trendlines) shows the previous downtrend.
- A breakout above this channel suggests a trend reversal.
2. *Support & Resistance:*
- A *resistance* level is marked at *1.7252*.
- *Support zones* are labeled as *OB (Order Block)* and *SSL (Sell-side Liquidity)*.
3. *Order Blocks (OB):*
- *OB (Order Block)* is marked as a key area where price may retest before continuing upward.
4. *Breakout Label:*
- A *Break-out* label shows where the price broke out of the descending structure.
5. *Swing Highs & Lows:*
- *LH (Lower High) and LL (Lower Low)* during the downtrend.
- A *new HH (Higher High)* and *HL (Higher Low)* indicate a trend reversal.
6. *Annotations & Arrows:*
- Red arrows show *lower highs (LH)* in the downtrend.
- Green arrows indicate *lower lows (LL)* and potential reversal points.
- Blue upward arrows show bullish momentum.
7. *Price Projection:*
- A projected *bullish trendline* suggests the expectation of continued upward movement.
### *Pattern Identified:*
- *Descending Channel (Bearish Trend) → Breakout → Trend Reversal to Bullish.*
- The price is expected to retest the *Order Block (OB)* and continue rising.
Would you like further analysis or trade insights based on this setup?
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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.
Join Telegram Channel Free t.me/+lvC6DGTZAqk3NTI8 "Explore daily insights: 4/5 signals meticulously analyzed, ensuring an impressive 99% accuracy in forex & crypto trades t.me/+XHUwVU1EKek0Nzlk
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.