The chart contains multiple technical patterns, indicating a bearish market structure. Here are the key patterns identified:
1. *Rising Wedge* – This is a bearish reversal pattern where price moves upward within a narrowing range before breaking down. It suggests weakening bullish momentum and potential selling pressure.
2. *Double Top* – A classic reversal pattern that signals a potential trend change from bullish to bearish. The price reaches a resistance level twice but fails to break higher, leading to a decline.
3. *Break of Structure (BOS) & Change of Character (CHOCH)* – These confirm a market shift from bullish to bearish. BOS signals trend continuation, while CHOCH indicates potential reversals.
4. *Fair Value Gap (FVG)* – This is an imbalance in price action, where price might retrace before continuing downward.
5. *Support Area & Liquidity Zone (LQD)* – The price is expected to target these areas, possibly finding support or continuing the downtrend.
# Conclusion:
- The chart suggests a bearish outlook following the breakdown of the *rising wedge* and *double top*.
- If the price retraces to the *FVG*, it could offer a short-selling opportunity before continuing lower toward the support area.
Would you like help identifying possible trade setups based on this structure? Write in comment section.
1. *Rising Wedge* – This is a bearish reversal pattern where price moves upward within a narrowing range before breaking down. It suggests weakening bullish momentum and potential selling pressure.
2. *Double Top* – A classic reversal pattern that signals a potential trend change from bullish to bearish. The price reaches a resistance level twice but fails to break higher, leading to a decline.
3. *Break of Structure (BOS) & Change of Character (CHOCH)* – These confirm a market shift from bullish to bearish. BOS signals trend continuation, while CHOCH indicates potential reversals.
4. *Fair Value Gap (FVG)* – This is an imbalance in price action, where price might retrace before continuing downward.
5. *Support Area & Liquidity Zone (LQD)* – The price is expected to target these areas, possibly finding support or continuing the downtrend.
# Conclusion:
- The chart suggests a bearish outlook following the breakdown of the *rising wedge* and *double top*.
- If the price retraces to the *FVG*, it could offer a short-selling opportunity before continuing lower toward the support area.
Would you like help identifying possible trade setups based on this structure? Write in comment section.
t.me/Xauusdanalysischartexperts
I deliver high-quality of forex signals and expert premium analysis updates, backed by meticulous analysis tools. and a commitment to exceptional results.
t.me/Xauusdanalysischartexperts
I deliver high-quality of forex signals and expert premium analysis updates, backed by meticulous analysis tools. and a commitment to exceptional results.
t.me/Xauusdanalysischartexperts
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.
t.me/Xauusdanalysischartexperts
I deliver high-quality of forex signals and expert premium analysis updates, backed by meticulous analysis tools. and a commitment to exceptional results.
t.me/Xauusdanalysischartexperts
I deliver high-quality of forex signals and expert premium analysis updates, backed by meticulous analysis tools. and a commitment to exceptional results.
t.me/Xauusdanalysischartexperts
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.