Market Structure Overview:
The market remains in a clear higher timeframe bullish trend, consistently forming higher highs and higher lows. Recently, price has entered a descending channel, resembling a bull flag formation — a classic continuation pattern that typically precedes a strong bullish breakout.
Key Observations:
✅ Descending Channel (Bull Flag): Price is respecting a downward-sloping channel while remaining above key demand zones.
💧 Liquidity Pools: Multiple liquidity highs have been left untouched above — suggesting fuel for a potential impulsive move upward.
🧹 Liquidity Sweep: On both H4 and H1, we see a clear sweep of previous equal lows, tapping into a significant demand zone.
📈 Reaction from Demand: Strong reaction from the demand zone suggests institutional buying interest.
🔵 Projection: A bullish breakout from the flag could target the liquidity above 1.1800, with immediate resistance near 1.1740–1.1760.
Bias:
🔼 Bullish — as long as price holds above the most recent demand zone (~1.1649), the bias remains bullish with expectations of a breakout and continuation toward previous highs.
Note: We must see how the market opens on Sunday night going into Monday. Based on the initial price action, we can determine the best trading opportunities and direction for the upcoming week.
The market remains in a clear higher timeframe bullish trend, consistently forming higher highs and higher lows. Recently, price has entered a descending channel, resembling a bull flag formation — a classic continuation pattern that typically precedes a strong bullish breakout.
Key Observations:
✅ Descending Channel (Bull Flag): Price is respecting a downward-sloping channel while remaining above key demand zones.
💧 Liquidity Pools: Multiple liquidity highs have been left untouched above — suggesting fuel for a potential impulsive move upward.
🧹 Liquidity Sweep: On both H4 and H1, we see a clear sweep of previous equal lows, tapping into a significant demand zone.
📈 Reaction from Demand: Strong reaction from the demand zone suggests institutional buying interest.
🔵 Projection: A bullish breakout from the flag could target the liquidity above 1.1800, with immediate resistance near 1.1740–1.1760.
Bias:
🔼 Bullish — as long as price holds above the most recent demand zone (~1.1649), the bias remains bullish with expectations of a breakout and continuation toward previous highs.
Note: We must see how the market opens on Sunday night going into Monday. Based on the initial price action, we can determine the best trading opportunities and direction for the upcoming week.
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.