🔍 Wave Structure Update
As of now, price has broken above the X wave high and is undergoing a retracement. This is a positive signal, suggesting that Wave 1 (black) of the larger green impulsive wave may have completed. Currently, price is likely in Wave 2 (black) – offering a good opportunity to position for the upcoming Wave iii (green).
Within Wave 2, we expect classic corrective structures such as zigzag or flat to form. Based on current price action, a short-term bounce followed by another leg down is anticipated to complete the corrective phase.
🎯 Potential Wave 2 Target Zones
• Target 1: 3290
• Target 2: 3272
❗ If price drops further to 3245, the assumption that Wave 2 has ended may be invalid. In that case, the broader correction could continue toward 3215 (Wave Y target).
📈 Momentum Outlook
D1 Chart: Momentum shows signs of reversal to the upside – supporting a bullish bias for the coming week.
H4 Chart: Momentum is weakening, suggesting price may move sideways or pull back today as part of Wave 2 development.
H1 Chart: Currently oversold, indicating a likely short-term bounce or sideways movement to maintain this oversold condition until H4 also reaches oversold.
🧭 Trading Plan
🔹 Scalp Buy
• Entry: 3291 – 3289
• SL: 3286
• TP1: 3306
• TP2: 3324
• TP3: 3346
🔹 Main Buy Zone
• Entry: 3272 – 3269
• SL: 3262
• TP1: 3290
• TP2: 3324
• TP3: 3373
Trade active
✅ BUY Zone Plan: 3291 – 3289We’ve locked in +140 pips in profit from this setup!
Trade closed: target reached
Entry 2 +150 pips Note
TP1: 200 pips Note
✅ BUY Zone Plan: 3272 – 3269We’ve locked in +450 pips in profit from this setup!
Note
+ 800 Pips TP2 Entry Buy 3272 - 3269Note
Full TP3 + 1000pips
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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
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.