Advanced Price Analysis with Timeframes
1. Key Observations from the Provided Data (H4 Chart)
Current Price197.800 testing the H4 SUPPORTlevel at 198.000
- Trend Downtrend (Lower Highs & Lower Lows).
- *Recent Structure
- Resistance ~199.600 (rejected multiple times).
- **Support -198.000 (critical level).
- If 198.000 breaks next support is 197.500–197.000
*a) Higher Timeframe (Daily/D1)
- If the **daily trend is bearish**, the H4 downtrend is likely to continue.
- If the **daily trend is bullish**, the H4 drop could be a retracement before a bounce.
- **Key Confirmation Needed**:
- Check if **198.000 aligns with a daily support level** (e.g., Fibonacci, moving averages).
**b) Lower Timeframe (H1/M15)
- **Breakdown Scenario**: If price stays below **198.000** with strong bearish candles, expect a drop to **197.500 → 197.000**.
- **Rebound Scenario**: If price holds **198.000** and forms a bullish reversal pattern (e.g., hammer, double bottom), a bounce to **198.600–199.000** is possible.
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*3. Key Levels to Watch
| **Level** | **Importance** | **Scenario** |
|-----------------|-------------------------|--------------|
| **199.600** | Strong Resistance | Only break = Trend reversal |
| **198.600** | Minor Resistance | Re-test if bounce occurs |
| **198.000** | **H4 SUPPORT (Critical)** | Hold = Bounce / Break = Drop |
| **197.500** | Next Support | Target if 198 breaks |
| **197.000** | Psychological Support | Strong demand zone |
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4. Trading Strategy Suggestions**
- **Bearish Bias (Down)**:
- Short if **198.000 breaks** with confirmation (e.g., closing below + high volume).
- Target: **197.500 → 197.000**.
- Stop Loss: **Above 198.300**.
- **Bullish Bias (Up)**:
- Long if **price bounces from 198.000** with a bullish pattern.
- Target: **198.600 → 199.000**.
- Stop Loss: **Below 197.800**.
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5. Final Verdict**
- **Higher Probability**: **Downside** (unless 198.000 holds strongly).
- **Reversal Signal Needed**: Bullish engulfing, RSI divergence, or volume surge.
**Recommendation**: Wait for **confirmation at 198.000** before taking a trade.
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.