🌀 Current Wave Structure
On the H1 timeframe, price action is currently overlapping — a sign that the corrective phase may not be over yet. If the correction had indeed ended at 3334, we would expect a sharper and more impulsive rally typical of wave 3 (green) within wave 3 (black). The lack of that strong momentum suggests the correction could still be unfolding.
Both wave a and wave b (red) are showing 3-wave structures, which points to the development of a Flat correction in the red abc pattern.
Within wave b (red), we’re currently seeing a smaller abc structure (green), with price likely forming wave c (green) right now.
🎯 Target Zones
Wave c (green) target zone: 3390–3393, which is our ideal Sell zone.
If price reverses from this zone, we expect wave c (red) to complete somewhere between 3334–3324.
⚡️ Momentum Outlook
D1 timeframe: Momentum is starting to turn bearish. A confirmation will depend on how today’s daily candle closes. Until then, short-term upside is still possible.
H4 timeframe: Momentum has already turned bearish, supporting the case for a potential wave C (red) to unfold.
H1 timeframe: Currently oversold, which opens the door for a minor push up or some sideways action to finish wave c (green).
📌 Trade Setup
🔻 SELL Zone:
Entry: 3390 – 3393
Stop Loss (SL): 3400
Take Profit (TP1): 3370
Take Profit (TP2): 3357
🔺 BUY Zone:
Entry: 3334 – 3331
Stop Loss (SL): 3322
Take Profit (TP1): 3357
Take Profit (TP2): 3393
Take Profit (TP3): 3410
Trade active
That’s how trading works — we must stick to our Stoploss discipline, even if the price later moves exactly as we expected.
👉 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.