🔍 Technical Breakdown:
The M15 chart has completed a 5-wave impulsive decline, followed by a clear ABC corrective structure.
Price has now broken below the (B) wave low, suggesting the beginning of Wave 3 to the downside.
A bearish sell zone is identified between 3208 – 3215, which aligns with previous structure and Fibonacci retracement levels.
The Awesome Oscillator (AO) has printed a fresh red histogram bar, confirming a momentum sell signal—perfect timing for Wave 3 initiation.
🎯 Trade Setup:
Sell Limit Zone: 3208 – 3215 (shaded red area)
Stop Loss: Just above Wave (C) high or around 3218
Take Profit Zone: Targeting the 1.618 Fibonacci extension (~3180 area)
📌 Confluence Factors:
Elliott Wave structure supports the Wave 3 sell.
AO confirms bearish momentum returning after correction.
Strong rejection expected from previous structure zone (supply area).
⚠️ Risk Note:
Wave 3 often brings strong movement—stay disciplined with stop placement and position sizing.
💬 This setup is clean and supported by momentum tools—wait for a pullback into the zone and let price action confirm before entering.
The M15 chart has completed a 5-wave impulsive decline, followed by a clear ABC corrective structure.
Price has now broken below the (B) wave low, suggesting the beginning of Wave 3 to the downside.
A bearish sell zone is identified between 3208 – 3215, which aligns with previous structure and Fibonacci retracement levels.
The Awesome Oscillator (AO) has printed a fresh red histogram bar, confirming a momentum sell signal—perfect timing for Wave 3 initiation.
🎯 Trade Setup:
Sell Limit Zone: 3208 – 3215 (shaded red area)
Stop Loss: Just above Wave (C) high or around 3218
Take Profit Zone: Targeting the 1.618 Fibonacci extension (~3180 area)
📌 Confluence Factors:
Elliott Wave structure supports the Wave 3 sell.
AO confirms bearish momentum returning after correction.
Strong rejection expected from previous structure zone (supply area).
⚠️ Risk Note:
Wave 3 often brings strong movement—stay disciplined with stop placement and position sizing.
💬 This setup is clean and supported by momentum tools—wait for a pullback into the zone and let price action confirm before entering.
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.