🌀 Current Wave Structure – H1 Timeframe
In previous plans, we were debating between two triangle patterns in green:
1. A leading diagonal triangle forming wave 1, or
2. A corrective triangle structure forming wave X (as labeled on the chart).
In last Friday’s plan, I also identified a five-wave triangle structure forming within wave c, with strong evidence of completion shown by a sharp bullish candle.
📰 News Supporting the Move
At this point, it seems war-related news is supporting an upcoming bullish trend, which also strengthens the case that a three-wave abc correction (black) has completed. We are now expecting a bullish leg this week.
🎯 Price Outlook
The current zone is a promising area for a BUY NOW setup. However, we should be cautious about the potential gap-up at the market open. If that occurs, we’ll observe whether the gap gets filled to reassess the buy zone.
If price rallies to the 3382 area and then pulls back, we will look for a swing BUY entry around 3357.
📈 Momentum & Larger Wave Outlook
D1 timeframe: Momentum is about to shift upward, indicating a potential strong and steep bullish trend this week. If confirmed, this supports the scenario that wave 2 (black) has ended and wave 3 is beginning.
However, if price moves in a slow and overlapping fashion, we must prepare for an alternative scenario: that the correction is not yet complete, and another leg down may occur to finalize the structure.
H4 timeframe: Momentum has already shifted to the upside, suggesting a high probability of a gap-up during the Asian session open.
H1 timeframe: Momentum is also about to reverse to the upside, allowing us to consider buying at current levels.
📝 Trade Plan – BUY Setup:
✅ Buy Zone: 3361 – 3379
❌ Stop Loss: 3351
🎯 Take Profit Targets:
TP1: 3382
TP2: 3396
TP3: 3412
👉 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.