1. Momentum
• D1 Timeframe: Momentum is preparing to reverse and the two lines are converging. We need to wait for the daily candle close for confirmation. At this stage, buying pressure is weak, but sudden downward spikes to sweep liquidity are still possible.
• H4 Timeframe: Momentum is rising, suggesting a potential rebound today. If this rebound fails to break above Wave B’s high, another downward move is likely.
• H1 Timeframe: Momentum is turning down, so a short-term drop is possible. If price breaks below 3331 and approaches the lower targets, it will align with H4’s upward momentum, creating the basis for a more stable rally.
2. Wave Structure
• D1 Timeframe: The abcde triangle pattern may have completed. We now have a black 5-wave structure, with Wave 1 formed and price possibly in Wave 2. A break below 3270 would invalidate this 5-wave count.
• H4 Timeframe: The black 12345 5-wave structure appears complete. Price may now be forming a purple ABC correction, with Waves A and B done, and price currently in Wave C. Based on Fibonacci from W12345, Wave C has two potential targets:
o Target 1: 3322 (Fibo 0.618)
o Target 2: 3298 (Fibo 0.782)
• H1 Timeframe: Within Wave C, a black 5-wave structure seems to be developing, and price may now be in Wave 4. Wave 4 has two possible targets: 3343 and 3350, after which price could drop to complete Wave 5.
3. Key resistance zones where Wave 5 may end:
• Target 1: 3322
• Target 2: 3315
• Target 3: 3299
4. Trade Plan
• Scenario 1:
o Buy Zone: 3322 – 3320
o SL: 3312
o TP1: 3332
o TP2: 3357
o TP3: 3381
• Scenario 2:
o Buy Zone: 3300 – 3298
o SL: 3290
o TP1: 3314
o TP2: 3343
o TP3: 3381
👉 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.