🟢 Trade Update
The BUY order at the 3342 – 3340 zone was triggered at 3341. As of now, price has moved up by 140 pips, and the market is still following the planned scenario from the previous analysis.
📊 Momentum Analysis
D1 Timeframe: Momentum is in the overbought zone, and indicator lines are showing signs of crossing — a warning signal of a potential reversal on the daily chart.
H4 Timeframe: After a 6-candle decline from 3377 to 3342, H4 momentum has reversed upward. With 2 bullish candles already formed, we expect another 3–5 bullish candles, aiming toward the 3390 zone.
🌀 Elliott Wave Update
Price action is currently moving toward the end of the abcde contracting triangle. We are monitoring two potential scenarios:
Scenario 1 – Ongoing Triangle Correction
If price returns to the lower boundary of the triangle, it is likely forming wave e, which would present a buy opportunity for the final leg of the triangle.
Scenario 2 – 5-Wave Impulse Extension
The current structure shows a 5-wave impulsive move, with wave 4 completed and wave 5 now beginning.
The projected target for wave 5 aligns with the resistance zone at 3398 – 3402.
After completing wave 5, the market could enter a corrective phase, consistent with the idea that wave d ends at this resistance.
🔔 If the price breaks above 3402, it would likely confirm that the abcde correction is complete and that a new impulsive bullish wave has started.
🎯 Trade Plan
📍SELL Zone: 3396 – 3398
⛔️ Stop Loss: 3406
🎯 TP1: 3376
🎯 TP2: 3327
📍BUY Zone: 3295 – 3293
⛔️ Stop Loss: 3285
🎯 TP1: 3327
🎯 TP2: 3365
🎯 TP3: 3402
✅ Note: Prioritize entries only after confirmation from price action and momentum at key levels.
The BUY order at the 3342 – 3340 zone was triggered at 3341. As of now, price has moved up by 140 pips, and the market is still following the planned scenario from the previous analysis.
📊 Momentum Analysis
D1 Timeframe: Momentum is in the overbought zone, and indicator lines are showing signs of crossing — a warning signal of a potential reversal on the daily chart.
H4 Timeframe: After a 6-candle decline from 3377 to 3342, H4 momentum has reversed upward. With 2 bullish candles already formed, we expect another 3–5 bullish candles, aiming toward the 3390 zone.
🌀 Elliott Wave Update
Price action is currently moving toward the end of the abcde contracting triangle. We are monitoring two potential scenarios:
Scenario 1 – Ongoing Triangle Correction
If price returns to the lower boundary of the triangle, it is likely forming wave e, which would present a buy opportunity for the final leg of the triangle.
Scenario 2 – 5-Wave Impulse Extension
The current structure shows a 5-wave impulsive move, with wave 4 completed and wave 5 now beginning.
The projected target for wave 5 aligns with the resistance zone at 3398 – 3402.
After completing wave 5, the market could enter a corrective phase, consistent with the idea that wave d ends at this resistance.
🔔 If the price breaks above 3402, it would likely confirm that the abcde correction is complete and that a new impulsive bullish wave has started.
🎯 Trade Plan
📍SELL Zone: 3396 – 3398
⛔️ Stop Loss: 3406
🎯 TP1: 3376
🎯 TP2: 3327
📍BUY Zone: 3295 – 3293
⛔️ Stop Loss: 3285
🎯 TP1: 3327
🎯 TP2: 3365
🎯 TP3: 3402
✅ Note: Prioritize entries only after confirmation from price action and momentum at key levels.
👉 Join the channel to receive more scalping signals!
Channel Telegram: t.me/+XkFQ95yHVOEwNDc1
Channel Telegram: t.me/+XkFQ95yHVOEwNDc1
Related publications
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.
👉 Join the channel to receive more scalping signals!
Channel Telegram: t.me/+XkFQ95yHVOEwNDc1
Channel Telegram: t.me/+XkFQ95yHVOEwNDc1
Related publications
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.