🌀 Elliott Wave Structure (H1 Timeframe)
Looking at the current price structure, we can see that the price is moving sharply and steeply—this suggests the formation of a 5-wave impulsive structure.
Specifically:
- Waves 1, 2, and 3 (green) appear to have completed.
- Currently, wave 4 is forming as a 3-wave corrective structure (abc in black).
- Once wave 4 completes, we anticipate the next upward move as wave 5, which will complete the full 5-wave cycle (green).
🎯 Potential Price Targets for Wave 4
Based on the structure of the abc correction and support zones, we identify two key target areas:
+ Target 1: 3324
+ Target 2: 3311
When the price breaks above the top of wave b (black), it will serve as a strong confirmation that wave 4 has ended and wave 5 is beginning.
📈 Momentum Analysis
Daily (D1): Momentum is still rising and likely needs 2–3 more days to enter the overbought zone, supporting the continuation of the uptrend.
H4: Momentum is about to turn upward, signaling wave 4 may be nearing completion.
H1: Momentum is also preparing to turn up, suggesting the price is approaching the end of the wave 4 correction zone.
💼 Trading Plan
BUY ZONE: 3325 – 3322
STOP LOSS: 3215
TAKE PROFIT 1: 3345
TAKE PROFIT 2: 3368
TAKE PROFIT 3: 3395
📌 Wait for H1–H4 momentum alignment before triggering a BUY entry for wave 5.
Looking at the current price structure, we can see that the price is moving sharply and steeply—this suggests the formation of a 5-wave impulsive structure.
Specifically:
- Waves 1, 2, and 3 (green) appear to have completed.
- Currently, wave 4 is forming as a 3-wave corrective structure (abc in black).
- Once wave 4 completes, we anticipate the next upward move as wave 5, which will complete the full 5-wave cycle (green).
🎯 Potential Price Targets for Wave 4
Based on the structure of the abc correction and support zones, we identify two key target areas:
+ Target 1: 3324
+ Target 2: 3311
When the price breaks above the top of wave b (black), it will serve as a strong confirmation that wave 4 has ended and wave 5 is beginning.
📈 Momentum Analysis
Daily (D1): Momentum is still rising and likely needs 2–3 more days to enter the overbought zone, supporting the continuation of the uptrend.
H4: Momentum is about to turn upward, signaling wave 4 may be nearing completion.
H1: Momentum is also preparing to turn up, suggesting the price is approaching the end of the wave 4 correction zone.
💼 Trading Plan
BUY ZONE: 3325 – 3322
STOP LOSS: 3215
TAKE PROFIT 1: 3345
TAKE PROFIT 2: 3368
TAKE PROFIT 3: 3395
📌 Wait for H1–H4 momentum alignment before triggering a BUY entry for wave 5.
Trade active
📉 Tonight's news failed to push the price beyond the 3368 level, which increases the likelihood that the market has only just completed wave B.As a result, we continue to expect a downward move forming wave C, targeting our previously identified buy zone.
🔍 Key signal to watch for:
The appearance of strong reversal candlestick patterns in the target area will serve as a potential indication that wave C has completed, even if the price does not reach the exact target level.
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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.