7 Dimension Analysis For EURNZD Yearly 🕛 TOPDOWN Analysis
Yearly: A multi-year bearish structure persists, notably mitigated after the 2020 liquidity. The current chart suggests a potential trend shift.
Monthly: The market induces a significant move, establishing a proper internal structure with clear mitigations. The last two candles exhibit pronounced long wicks, rejecting from previous long wick order blocks.
Weekly: A well-defined weekly internal bearish structure is in place.
😇 7 Dimension Analysis
Time Frame: H4
1️⃣ Swing Structure: Bearish
🟢 Structure Behavior: Break of Structure (BoS)
🟢 Swing Move: Impulsive move is intact after a proper BoS, with a pre-breakout buildup near support levels. It's advisable to monitor any support breakouts for potential sell entries.
🟢 Inducement: Done
🟢 Pullback: Completed with a proper liquidity sweep
🟢 Internal Structure: Sideways
🟢 Decisional OB: Mitigated; waiting for support breakout due to observed volatility spikes and a massive supply at the decisional OB area. Distribution is evident in the same area for the third time.
🟢 Time Frame Confluence: Daily and H4
2️⃣ Pattern
🟢 CHART PATTERNS: Reversal - Rounding Patterns, Triple Bottom (waiting for failure). Consolidation Rectangle - A strong consolidation range; waiting for support breakout. Continuation.
🟢 CANDLE PATTERNS: Massive consolidation range; avoiding candlestick patterns in a sideways market.
3️⃣ Volume
🟢 Fixed Range: According to it, in this bearish volume,
🟢 Volume on Breakout: Awaiting this
🟢 Volume during Consolidation: Not as needed so high chance market continue its fall moves
4️⃣ Momentum RSI
🟢 Zone: Bearish to strict sideways
🟢 Range Shift: Bearish to sideways; intact from many sessions, indicating a lack of bullish power to break this range.
🟢 Divergence: Some bullish divergences observed, but not strong enough to manipulate the market.
5️⃣ Volatility Bollinger Bands
🟢 Middle Band: Price is under the middle band.
🟢 Contraction: A long and strong contraction; breakout will be crucial for this move.
🟢 Headfake: A very clear headfake, suggesting a potential sharp downward move in the coming sessions.
6️⃣ Strength According to ROC
🟢 Values: EUR 3.47 vs. 7.20, clearly showing the strength of NZD.
7️⃣ Sentiment
✔️ Entry Time Frame: H4
✅ Entry TF Structure: Bearish
☑️ Current Move: Sideways; waiting for breakout
✔ Support Base: Previous swing low is support
☑️ Candles Behavior: Bears' candles appear stronger than bullish.
💡 Decision: Sell at the support line breakout
🚀 Entry: 1.7382
✋ Stop Loss: 1.7602
🎯 Take Profit: 1.6758, 2nd Exit if Internal Structure changes, also Exit 3rd Trendline Breakout, FOMO.
😊 Risk to Reward Ratio: 1:3
🕛 Expected Duration: 15 days
SUMMARY: The analysis reveals a persistent bearish stance with indications of potential bearish continuation. Monitoring support breakout for sell entries is advised, considering the observed volatility and supply factors. The decision emphasizes waiting for the right breakout conditions.
