🔍 Momentum Analysis
- D1 Timeframe: Momentum is currently rising → the dominant trend over the next 3 days is likely to remain bullish.
- H4 Timeframe: Momentum is approaching the oversold area → just one more bearish H4 candle could complete the entry into oversold territory.
- H1 Timeframe: Momentum is about to reverse downward → suggesting a short-term corrective pullback in the current session.
🌀 Elliott Wave Structure Update
On the H4 chart, price continues to consolidate within a corrective triangle structure. According to our previous plan, price approached the 3358 zone, and we expect:
- Wave 1 (black) may have completed at the 3358 high.
- Currently, Wave 2 (black) is likely unfolding:
+ Wave A appears to have completed.
+ The current upward leg is part of Wave B.
+ A final drop in Wave C is expected, with two key target zones:
- Target 1: 3342
- Target 2: 3332
🔎 Combining Momentum & Wave Structure
- If price breaks above 3358, we want to see a sharp, impulsive, and steep rally to confirm the beginning of Wave 3.
- If price movement remains choppy or overlapping, the market is likely still in a corrective phase.
- Key resistance zone to monitor: 3390–3402 – a clean breakout above this range would significantly strengthen the Wave 3 scenario.
📌 Trade Plan
1️⃣ BUY Setup #1
Entry Zone: 3343 – 3341
Stop Loss: 3337
Take Profit 1: 3358
Take Profit 2: 3390
2️⃣ BUY Setup #2
Entry Zone: 3333 – 3331
Stop Loss: 3323
Take Profit 1: 3358
Take Profit 2: 3390
📎 Note: Prioritize entries that come with clear confirmation signals from price action and momentum. Avoid buying during choppy or indecisive market conditions.
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👉 Join the channel to receive more scalping signals!
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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.