7 Dimension analysis CADCHF

28 thg 4

😇 7 Dimension Analysis
Time Frame: H1

1️⃣ Swing Structure: Initially bullish with proper Breakout of Structure (BoS), now showing a corrective move after inducement, possibly heading towards extreme swing area of correction
🟢 Internal Structure: Bearish
🟢 Ext POI: Unmitigated
🟢 Support & Discounted: Same area, drawing a Trendline break upside for additional confirmation
🟢 CHART PATTERNS: Double top reversal formed
🟢 CANDLE PATTERNS: Inverted Hammer with long wick, strict engulfing, fakeouts observed
🟢 Volume: High buy volume at POI area, good volume on breakout but none on fakeout
🟢 Momentum RSI: Bullish zone, momentum shifted from bullish to sideways, bearish divergence at the top, with loud moves and overbought rejections observed
🟢 Volatility Bollinger Bands: Contraction started, squeeze breakout expected in lower side, walking on the band anticipated with headfake, W patterns, and band puncher observed
🟢 Strength According to ROC: CAD stronger than CHF
🟢 Sentiment: Fully bullish

✔️ Entry Time Frame: H1
✅ Entry TF Structure: Bullish
☑️ Candles Behavior: To be observed once price reaches the level
☑️ FIB Trigger event: To be updated once occurred
☑️ Trend line breakout: To be updated when necessary

💡 Decision: Buy
🚀 Entry: 0.6658
✋ Stop loss: 0.6646
🎯 Take profit: 0.6699
😊 Risk to reward Ratio: 3.5
🕛 Expected Duration: 5 days

📚 SUMMARY: The analysis indicates a bullish sentiment with various patterns and candlestick formations suggesting a potential buying opportunity. High volume at the POI area adds to the bullish bias, with attention drawn to key events like FIB trigger and trend line breakout for updates. Traders are advised to monitor candle behavior upon reaching the specified level and consider a buy position with a favorable risk-to-reward ratio of 3.5 over an expected duration of 5 days.