Current Price: $2,650.06 EMA-21: $2,656.35 (Detached by ~$6.3) SMA-50: $2,653.50 (Detached by ~$3.4)
This comprehensive breakdown integrates calibrated trade setups, multi-timeframe confluence, and breakout/breakdown scenarios above $2,662 and below $2,635.
Step 1:
30-Minute Chart Analysis
Trend Assessment: EMA-21 & SMA-50: Price is ~$6.3 below EMA-21 and ~$3.4 below SMA-50, reflecting a short-term bearish pullback and potential overextension.
Ichimoku Cloud: Price is below the cloud baseline (~$2,654), reinforcing bearish control while approaching critical support zones.
Detachment: Significant EMA-21 detachment (~$6.3) signals oversold conditions, increasing potential for a reversion toward mean levels if bearish momentum weakens.
Fair Value Gaps (FVG): Bullish FVG Zones (Support): $2,648–$2,650 (current test zone). $2,645–$2,646 (untested secondary support). Bearish FVG Zones (Resistance): $2,653–$2,656 (EMA-21 alignment). $2,659–$2,662 (major resistance zone).
Momentum Indicators: RSI: Stabilizing around 39–41, confirming bearish momentum near oversold conditions. Stochastic RSI: Bullish crossover (~15), signaling upward momentum potential near support zones. ADX: At 21, confirming consolidation with bearish bias.
Step 2:
Higher Timeframe Confluence
1H Chart: EMA-21 ($2,654): Price detached by ~$4, highlighting a mean reversion possibility. Bearish FVG Resistance: $2,656–$2,659, aligning with key breakout levels.
4H Chart: Lower Bollinger Band ($2,648): Price hovering near oversold territory. Fibonacci retracement ($2,645–$2,650) aligns with short-term support zones. Daily Chart:
Long-Term Trend: Remains bullish, but consolidation near $2,650 signals exhaustion. Resistance remains at $2,656–$2,660.
Execution Precision Notes Breakout Above $2,662: Sustained volume is crucial to confirm strength; favor targets near $2,670–$2,680. Breakdown Below $2,635: Bearish continuation must align with higher timeframe support zones. Risk Management: Tight stops and confluence are essential for high-probability setups.
Mohamed
THE Ichimoku MAN on the Nile
#traders4traders
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