After price rejected the previous 4H OB with a bearish M-pattern and engulfing confirmation @146.766, the bearish move extended and tapped into a deeper 4H Order Block, where we now see a well-structured W reversal pattern forming @145.310. Below is my technical Confluence.
Technical Confluence:
✅ Clear 4H Bullish Order Block acting as demand
✅ Well-formed W pattern with balanced symmetry
✅ Strong bullish rejection candles at the second leg (1H Tweezer Candle)
✅ Price swept liquidity beneath previous lows before reversing — classic smart money signature
✅ Volume spike and slowing bearish momentum confirm potential reversal
Trade Rationale:
This long entry is taken based on the confluence of a 4H OB and a confirmed W pattern, which often signals a potential reversal or temporary bullish correction. The second leg of the W also aligns with a Fair Value Gap (FVG) on lower timeframes, indicating institutional interest.
Risk Note:
Always manage your risk — even when technicals align perfectly, fundamentals or unexpected news can influence volatility. Keep risk per trade minimal and allow structure to confirm the move.
Technical Confluence:
✅ Clear 4H Bullish Order Block acting as demand
✅ Well-formed W pattern with balanced symmetry
✅ Strong bullish rejection candles at the second leg (1H Tweezer Candle)
✅ Price swept liquidity beneath previous lows before reversing — classic smart money signature
✅ Volume spike and slowing bearish momentum confirm potential reversal
Trade Rationale:
This long entry is taken based on the confluence of a 4H OB and a confirmed W pattern, which often signals a potential reversal or temporary bullish correction. The second leg of the W also aligns with a Fair Value Gap (FVG) on lower timeframes, indicating institutional interest.
Risk Note:
Always manage your risk — even when technicals align perfectly, fundamentals or unexpected news can influence volatility. Keep risk per trade minimal and allow structure to confirm the move.
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.
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.