________________________________________
🔍 Momentum Analysis:
• D1 Timeframe: Daily momentum is showing signs of a potential bearish reversal. We need to wait for today’s daily candle to close to confirm this. It signals that the bullish momentum is weakening.
• H4 Timeframe: Momentum is turning down. It may take around 2 more bearish H4 candles to push momentum into the oversold zone → suggesting continued downside movement today.
• H1 Timeframe: Momentum is already in the oversold zone and the indicators are “clinging” together → implying possible continued minor declines or sideways movement.
________________________________________
🌀 Elliott Wave Structure Update:
• On the H1 chart, a 5-wave structure (yellow) is unfolding.
o Wave 3 (yellow) appears completed, supported by a clear 5-wave internal structure in blue.
o The market is currently in Wave 4 (yellow) – a corrective move.
🔸 Potential Wave 4 (yellow) targets:
• Target zone 1: Around 3412
• Target zone 2: Around 3402
📌 Once Wave 4 (yellow) completes, we anticipate the market will form Wave 5 (yellow).
🔸 Projected Wave 5 (yellow) targets:
• TP1: 3461
• TP2: 3492 (in case of an extension)
________________________________________
🔄 Combining Momentum & Wave Structure:
• The potential bearish reversal in D1 momentum suggests the current bullish trend may be nearing its end – consistent with Wave 5 being the final push before a broader correction.
• H4 and H1 momentum support the ongoing correction in Wave 4.
✅ Wave 4 typically takes the form of a zigzag, flat, or triangle → Wait for a strong bullish H1 candle to confirm the end of Wave 4 and initiate a buy entry.
________________________________________
📊 Trade Plan:
🟩 Buy Zone 1:
• BUY ZONE: 3414 – 3412
• SL: 3407
• TP1: 3439
• TP2: 3461
• TP3: 3492
🟩 Buy Zone 2:
• BUY ZONE: 3403 – 3401
• SL: 3393
• TP1: 3439
• TP2: 3461
• TP3: 3492
🔍 Momentum Analysis:
• D1 Timeframe: Daily momentum is showing signs of a potential bearish reversal. We need to wait for today’s daily candle to close to confirm this. It signals that the bullish momentum is weakening.
• H4 Timeframe: Momentum is turning down. It may take around 2 more bearish H4 candles to push momentum into the oversold zone → suggesting continued downside movement today.
• H1 Timeframe: Momentum is already in the oversold zone and the indicators are “clinging” together → implying possible continued minor declines or sideways movement.
________________________________________
🌀 Elliott Wave Structure Update:
• On the H1 chart, a 5-wave structure (yellow) is unfolding.
o Wave 3 (yellow) appears completed, supported by a clear 5-wave internal structure in blue.
o The market is currently in Wave 4 (yellow) – a corrective move.
🔸 Potential Wave 4 (yellow) targets:
• Target zone 1: Around 3412
• Target zone 2: Around 3402
📌 Once Wave 4 (yellow) completes, we anticipate the market will form Wave 5 (yellow).
🔸 Projected Wave 5 (yellow) targets:
• TP1: 3461
• TP2: 3492 (in case of an extension)
________________________________________
🔄 Combining Momentum & Wave Structure:
• The potential bearish reversal in D1 momentum suggests the current bullish trend may be nearing its end – consistent with Wave 5 being the final push before a broader correction.
• H4 and H1 momentum support the ongoing correction in Wave 4.
✅ Wave 4 typically takes the form of a zigzag, flat, or triangle → Wait for a strong bullish H1 candle to confirm the end of Wave 4 and initiate a buy entry.
________________________________________
📊 Trade Plan:
🟩 Buy Zone 1:
• BUY ZONE: 3414 – 3412
• SL: 3407
• TP1: 3439
• TP2: 3461
• TP3: 3492
🟩 Buy Zone 2:
• BUY ZONE: 3403 – 3401
• SL: 3393
• TP1: 3439
• TP2: 3461
• TP3: 3492
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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.
👉 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.