Description (Analysis):
Price is currently consolidating near 3215–3220 levels after a breakout from a descending channel. Based on the current structure and volume behavior, a corrective ABC pattern appears to be forming.
Wave A: Initiated after the breakout and touched local resistance.
Wave B: A mild retracement respecting the new bullish trendline.
Wave C (potential): Could target the resistance zone near 3320–3360, especially if liquidity sweep occurs over recent highs.
Trade Setup:
ENTRY: Above 3220 (confirmed breakout candle).
TP: 3320 (first target), 3360 (second target near major liquidity).
SL: Below 3170 (beneath structure and trendline).
Notes:
Liquidity zones marked with green and red bands suggest significant buy/sell pressure above and below.
Heikin Ashi candles help filter noise and confirm momentum.
Bias:
Bullish short-term (5m to 2H), awaiting confirmation of Wave C. Will reassess if price rejects from current mid-level zone.
Analysis by : mohsen mozafari nezhad
Price is currently consolidating near 3215–3220 levels after a breakout from a descending channel. Based on the current structure and volume behavior, a corrective ABC pattern appears to be forming.
Wave A: Initiated after the breakout and touched local resistance.
Wave B: A mild retracement respecting the new bullish trendline.
Wave C (potential): Could target the resistance zone near 3320–3360, especially if liquidity sweep occurs over recent highs.
Trade Setup:
ENTRY: Above 3220 (confirmed breakout candle).
TP: 3320 (first target), 3360 (second target near major liquidity).
SL: Below 3170 (beneath structure and trendline).
Notes:
Liquidity zones marked with green and red bands suggest significant buy/sell pressure above and below.
Heikin Ashi candles help filter noise and confirm momentum.
Bias:
Bullish short-term (5m to 2H), awaiting confirmation of Wave C. Will reassess if price rejects from current mid-level zone.
Analysis by : mohsen mozafari nezhad
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.