EUR/JPY 4H: Key Fibonacci and Volume Profile Levels
EURJPY EUR/JPY 4H: Key Fibonacci and Volume Profile LevelsAnalysis:
Description:
The chart displays the EUR/JPY currency pair on a 4-hour timeframe. It includes several key indicators and annotations such as Break of Structure (BOS), Change of Character (ChoCH), Fibonacci retracement levels, and volume profile. The RSI indicator is also shown at the bottom of the chart.
Analysis:
Price Action and SMC Analysis:
Break of Structure (BOS): Multiple BOS points are marked, indicating significant shifts in market structure.
Change of Character (ChoCH): These points suggest potential reversals or shifts in market sentiment.
Fibonacci Retracement Levels: Key levels at 0.382 (163.34288), 0.5 (162.977), 0.618 (162.59712), 0.705 (162.3222), and 0.786 (162.06624) are plotted, indicating potential support and resistance zones.
Volume Profile: High volume nodes at 163.612, 163.208, and 160.897 suggest strong interest and potential areas of price reaction.
RSI Analysis:
The RSI is currently around 46.42, indicating a neutral to slightly bearish momentum. The RSI has previously shown oversold conditions, suggesting potential buying opportunities.
Buy Strategy
Entry: Consider entering a long position at the 0.618 Fibonacci level (162.59712) as it aligns with a high volume node and potential support.
Take Profit 1 (TP1): 163.208 (61 pips)
Take Profit 2 (TP2):: 163.612 (101 pips)
Stop Loss (SL): 162.06624 (53 pips)
Sell Strategy
Entry: Consider entering a short position if the price breaks below the 0.786 Fibonacci level (162.06624) with confirmation.
Take Profit 1 (TP1): 161.500 (56 pips)
Take Profit 2 (TP2):: 160.897 (117 pips)
Stop Loss (SL): 162.59712 (53 pips)
VIP Signal
Buy Signal: Entry: 162.59712 TP1: 163.208 (61 pips) TP2: 163.612 (101 pips) SL: 162.06624 (53 pips)
Sell Signal: Entry: 162.06624 TP1: 161.500 (56 pips) TP2: 160.897 (117 pips) SL: 162.59712 (53 pips)
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This comprehensive analysis leverages Price Action, Smart Money Concepts (SMC), and ICT Elliott Wave strategies to provide detailed buy and sell strategies. The Fibonacci retracement levels, volume profile, and RSI indicators highlight key areas of interest for optimal trading decisions.
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Alex Gold Hunter
Free Signals & analysis
Join for Free
tinyurl.com/ClassicFreeSignals
bit.ly/4fQGd0G
bit.ly/3ODlUI4
Free Signals & analysis
Join for Free
tinyurl.com/ClassicFreeSignals
bit.ly/4fQGd0G
bit.ly/3ODlUI4
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