1. Market Overview
• Timeframe: 1-hour candles
• Current Price: ~143.15
• Recent Trend: Strong downtrend following a previous sharp upward move.
• Current Sentiment: Potential reversal or retracement is being suggested.
⸻
2. Technical Indicators Used
• Supertrend (10, 3):
The red and green bands show trend direction.
• Red line (above price): Indicates a bearish trend.
• Green line (below price): Indicates a bullish trend.
• Price Action & Market Structure:
Blue zigzag lines illustrate price swings, helping highlight trend direction and reversal zones.
• Support/Resistance Levels:
• Resistance: ~148.082 (top black horizontal line)
• Key Resistance to Watch: ~146.685
• Support Zone: ~142.800–143.000 (shaded orange/pink region)
⸻
3. Chart Annotations
• Yellow Circle with Red Arrow (Top):
Signifies a key rejection zone around 148.082, marking a local top and start of the recent downtrend.
• Blue Arrow Projection:
Indicates an anticipated bullish move back up towards 146.685, possibly a retracement or corrective move after the decline.
⸻
4. Price Levels of Interest
• 146.685 (Blue Line): Potential target zone for a bullish correction.
• 145.583 (Green Line): Mid-level resistance.
• 144.645 (Red Line): Short-term resistance level.
• 143.151 (Current Price): Trading at a potential support/reversal zone.
⸻
5. Potential Scenarios
• Bullish Scenario:
If 143.00 support holds and price breaks above 144.645, we could see a rally toward 146.685.
• Bearish Risk:
If 143.00 fails, price may test lower support levels around 142.50 or below.
• Timeframe: 1-hour candles
• Current Price: ~143.15
• Recent Trend: Strong downtrend following a previous sharp upward move.
• Current Sentiment: Potential reversal or retracement is being suggested.
⸻
2. Technical Indicators Used
• Supertrend (10, 3):
The red and green bands show trend direction.
• Red line (above price): Indicates a bearish trend.
• Green line (below price): Indicates a bullish trend.
• Price Action & Market Structure:
Blue zigzag lines illustrate price swings, helping highlight trend direction and reversal zones.
• Support/Resistance Levels:
• Resistance: ~148.082 (top black horizontal line)
• Key Resistance to Watch: ~146.685
• Support Zone: ~142.800–143.000 (shaded orange/pink region)
⸻
3. Chart Annotations
• Yellow Circle with Red Arrow (Top):
Signifies a key rejection zone around 148.082, marking a local top and start of the recent downtrend.
• Blue Arrow Projection:
Indicates an anticipated bullish move back up towards 146.685, possibly a retracement or corrective move after the decline.
⸻
4. Price Levels of Interest
• 146.685 (Blue Line): Potential target zone for a bullish correction.
• 145.583 (Green Line): Mid-level resistance.
• 144.645 (Red Line): Short-term resistance level.
• 143.151 (Current Price): Trading at a potential support/reversal zone.
⸻
5. Potential Scenarios
• Bullish Scenario:
If 143.00 support holds and price breaks above 144.645, we could see a rally toward 146.685.
• Bearish Risk:
If 143.00 fails, price may test lower support levels around 142.50 or below.
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✅ GBPUSD
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Telegram channel 👇👇
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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.
World Best Signals Channel here 🤝
✅ XAUUSD Gold
✅ BTC & other coins
✅ EURUSD
✅ USDJPY
✅ GBPUSD
✅ ETH USD
Telegram channel 👇👇
t.me/+crZRykT5XGsyYjFk
✅ XAUUSD Gold
✅ BTC & other coins
✅ EURUSD
✅ USDJPY
✅ GBPUSD
✅ ETH USD
Telegram channel 👇👇
t.me/+crZRykT5XGsyYjFk
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.