📆 Weekly Time Frame – Big Picture Bias: Bullish
Price has just completed a textbook Wave (4) correction and is setting up for a Wave (5) extension.
Pullback respected the long-term trendline and institutional demand zone.
The 71% Fibonacci retracement held perfectly, showing deeper correction but still in trend structure.
Expectation: Wave (5) toward 1.85 – 1.90, riding momentum from previous wave strength.
📉 Daily Time Frame – Setup in Motion
Clean (1)-(2)-(3)-(4) structure with recent bounce initiating Wave (5).
Volume builds on Wave (4) low — signs of accumulation.
Price bounced off the cloud and 200 EMA, holding bullish structure.
Last correction (Wave (4)) took the form of a bull flag / wedge, and has now broken to the upside.
Targeting the upper channel zone and major resistance levels toward 1.87–1.88.
⏱ 4H Time Frame – Precision Entry Zone
Current action shows price completing a minor abcde correction inside Wave (4).
Bounce is happening off a 71% fib zone with volume starting to rise — classic entry trigger zone.
Structure is forming higher lows, and price is reclaiming the cloud, signaling strength.
You can see momentum shifting as buyers defend the 1.6280–1.6330 range.
📌 High Probability Trade Setup:
Entry: 1.6300 – 1.6340
Stop Loss: 1.6150 (beneath Wave (4) low)
Take Profit: 1.7500 – 1.7700 (Wave (5) extension)
Risk-Reward Ratio: ~1:3+
✅ Summary:
Trend: Bullish continuation
Wave Structure: Weekly Wave (5) just starting
Entry Catalyst: 4H wedge breakout from Wave (4)
Confluence: 71% Fib + Cloud + Trendline + Volume rise
Conviction: 🔥🔥🔥 (Very High Probability)
This is a multi-timeframe aligned swing opportunity — ideal for holding through to Wave (5) completion with precision risk control.
Price has just completed a textbook Wave (4) correction and is setting up for a Wave (5) extension.
Pullback respected the long-term trendline and institutional demand zone.
The 71% Fibonacci retracement held perfectly, showing deeper correction but still in trend structure.
Expectation: Wave (5) toward 1.85 – 1.90, riding momentum from previous wave strength.
📉 Daily Time Frame – Setup in Motion
Clean (1)-(2)-(3)-(4) structure with recent bounce initiating Wave (5).
Volume builds on Wave (4) low — signs of accumulation.
Price bounced off the cloud and 200 EMA, holding bullish structure.
Last correction (Wave (4)) took the form of a bull flag / wedge, and has now broken to the upside.
Targeting the upper channel zone and major resistance levels toward 1.87–1.88.
⏱ 4H Time Frame – Precision Entry Zone
Current action shows price completing a minor abcde correction inside Wave (4).
Bounce is happening off a 71% fib zone with volume starting to rise — classic entry trigger zone.
Structure is forming higher lows, and price is reclaiming the cloud, signaling strength.
You can see momentum shifting as buyers defend the 1.6280–1.6330 range.
📌 High Probability Trade Setup:
Entry: 1.6300 – 1.6340
Stop Loss: 1.6150 (beneath Wave (4) low)
Take Profit: 1.7500 – 1.7700 (Wave (5) extension)
Risk-Reward Ratio: ~1:3+
✅ Summary:
Trend: Bullish continuation
Wave Structure: Weekly Wave (5) just starting
Entry Catalyst: 4H wedge breakout from Wave (4)
Confluence: 71% Fib + Cloud + Trendline + Volume rise
Conviction: 🔥🔥🔥 (Very High Probability)
This is a multi-timeframe aligned swing opportunity — ideal for holding through to Wave (5) completion with precision risk control.
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.
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.