ETN has officially broken out of its multi-month compression range, reclaiming key BOS zones and leaving behind a clear discount-to-premium trajectory. With demand reestablished near equilibrium and strong follow-through volume, we’re now eyeing a run toward the structural high at $422.46.🔍 Technical Highlights (1D):
✅ Confirmed BOS after sweeping discount and reclaiming mid-channel support
🔴 Premium zone at $366–$390 is the only major resistance before upside extension
🔼 Smart Money Concepts: Clean CHoCH → BOS → Expansion
🧭 Price is now inside an HTF ascending channel with measured move targeting upper trendline near $420–$440
🧠 Macro Context & Catalysts:
⚙️ Eaton benefits from strong secular demand in electrification, infrastructure, and defense sectors
🏗️ Tailwinds from the Inflation Reduction Act, grid modernization, and global energy transition
💰 Institutional rotation into high-cash-flow industrials with clean balance sheets
📊 June's PMI data hints at reacceleration in U.S. manufacturing
🧪 Trade Setup:
Entry Zone: $350–$356 (on pullbacks into breakout candle)
Stop Loss: Below $340 (invalidates HTF BOS)
Targets:
🎯 TP1: $366 (premium zone)
🎯 TP2: $390–$422 (final structure target)
📊 Bias: Bullish Continuation
📆 Timeframe: Multi-week swing
🧠 For educational use only – not financial advice.
🔗 Posted by WaverVanir_International_LLC
(APA7: TradingView, 2025)
Note
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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.