alorabyakram2030 Mbco Analysis on TADAW​​UL:1202 — TradingView

. Classic analysis

General trend: Price has changed from a sharp downward trend that started at the 21.00 level to starting to form rising lows.

Support and resistance levels:

Key resistance level: 19.92 level (represents TP1 target).

Main support: 16.50 – 17.00 riyal area.

Price Pattern: We note the formation of a mini double bottom pattern at the 15.50 level, supporting the current rally.

2. Smart Currency Concept (SMC) Analysis

CHANGE OF CHARACTER (CHOCH): Price has managed to break out of the last lower high (marked by the green “choch” on the chart), confirming a momentum shift in favor of buyers.

Liquidity Area: Non-targeted buyer liquidity exists above the 20.80 level.

Fair Value Gap (FVG): The current price is based on the equilibrium area (VG-D) marked by the blue dotted line, which is a strong buying area.

3. Wyckoff analysis

Current stage: The price at the end of the accumulation stage and the beginning of the markup stage.

Spring: represented by the last bottom breaking through the previous bottom and then rebounding strongly (indicated by the second green letter L).

4. Technical indicators

Volume: We noticed that the volume bars increased significantly with the recent advance, which confirms the validity of the CHOCH area breakout.

MACD: There is a positive crossover above the zero line, and the green histogram has increased momentum, supporting the continuation of the rise.

5. Transaction and scene management

Ideal entry point: current price 17.98 SAR or a retest of the 17.20 area.

Stop Loss (SL): Daily close below 16.40.

First goal (TP1): 19.92 riyals.

Second target (TP2): 20.82 riyals (historical resistance zone).

6. Final evaluation

Base case: As long as the price stabilizes above the designated FVG area, the rise will continue targeting the 19.90 level.

Alternative scenario: A break above the 16.50 level would cancel the positive outlook and send the price back to test the 15.50 bottom.

Expected success rate: 75%.

Trade Type: Great for swing trading (medium range).

Note: According to SMC readings, the current demand area (between 17.00 and 17.50) is considered a strong “concentration area” for financial institutions.