1. Price Action Analysis:
Current Price: 145.241, slightly down by 0.079 (-0.05%).
The chart shows a recent bullish move up to the 145.595 level, marked by a Break of Structure (BOS).
The price has touched a key Fibonacci retracement level (around 0.70), indicating a potential reversal zone.
2. Structure Labels:
BOS (Break of Structure): Indicates trend continuation or shifts.
ChoCH (Change of Character): Marks potential trend reversals.
These annotations suggest a trader is analyzing based on market structure theory, commonly used in smart money concepts or ICT (Inner Circle Trader) strategies.
3. Forecast:
A black arrow projects a potential bearish move from the current price zone.
The projection shows a drop toward two key demand zones:
Around 143.152
Possibly deeper toward 141.958
4. Market Sentiment:
The visual and annotations suggest the trader expects a reversal or pullback from the recent high.
This could be due to overbought conditions or price reaching a supply zone.
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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.
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.