✅ Short-Term Price Direction (H4):
After a sharp decline from its peak, the H4 movement indicates a strong short-term uptrend from the recent low around 1.2100 - 1.2200. The price has created a series of clear Higher Highs (HH) and Higher Lows (HL).
The price is currently consolidating below Short-Term Resistance around 1.3100 - 1.3200, which is also the Low Volume Node (LVN) on the Daily Volume Profile. This indicates potential uncertainty after the rapid rise.
This consolidation is occurring within the newly formed High Volume Node (HVN) area on the H4 (around 1.2900 - 1.3000), which serves as strong Short-Term Support.
Short-Term Bias: Bullish (Upward), as the HH and HL structures on the H4 are still intact.
✅ H4 Key Levels:
- Short-Term Resistance (Consolidation Top): Around 1.3100 - 1.3200.
- Short-Term Support (HVN/HL): Range 1.2900 - 1.3000 (Important).
- H4 Value Area Low: Around 1.2700.
✅ Potential Scenarios
- Strong Bullish Scenario: Price successfully breaks through and maintains above the Short-Term Resistance at 1.3200, paving the way for a test of the Daily POC at 1.3400 - 1.3500.
- Correction/Reversal Scenario: A break and close below the Short-Term H4 Support (1.2900) will invalidate the H4 bullish bias and could lead to further declines to test the H4 Value Area Low at 1.2700 and the Daily Key Support.
After a sharp decline from its peak, the H4 movement indicates a strong short-term uptrend from the recent low around 1.2100 - 1.2200. The price has created a series of clear Higher Highs (HH) and Higher Lows (HL).
The price is currently consolidating below Short-Term Resistance around 1.3100 - 1.3200, which is also the Low Volume Node (LVN) on the Daily Volume Profile. This indicates potential uncertainty after the rapid rise.
This consolidation is occurring within the newly formed High Volume Node (HVN) area on the H4 (around 1.2900 - 1.3000), which serves as strong Short-Term Support.
Short-Term Bias: Bullish (Upward), as the HH and HL structures on the H4 are still intact.
✅ H4 Key Levels:
- Short-Term Resistance (Consolidation Top): Around 1.3100 - 1.3200.
- Short-Term Support (HVN/HL): Range 1.2900 - 1.3000 (Important).
- H4 Value Area Low: Around 1.2700.
✅ Potential Scenarios
- Strong Bullish Scenario: Price successfully breaks through and maintains above the Short-Term Resistance at 1.3200, paving the way for a test of the Daily POC at 1.3400 - 1.3500.
- Correction/Reversal Scenario: A break and close below the Short-Term H4 Support (1.2900) will invalidate the H4 bullish bias and could lead to further declines to test the H4 Value Area Low at 1.2700 and the Daily Key Support.
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