D1 Timeframe
We can see that price is currently following a triangle pattern. Within a complex corrective wave structure, a triangle may indicate that the market is in the final wave of the correction.
However, in cases where the price structure only resembles a triangle, we need to wait for the pattern to be fully completed. The signal following its completion could be a very strong bullish move.
D1 momentum is also declining. We expect the correction to be completed when D1 momentum moves down into the oversold zone.
H4 Timeframe
H4 momentum is reversing downward. Therefore, there is a possibility that we will see a bearish corrective move on the H4 timeframe.
Looking at the previous decline, all FVG zones have already been filled. Therefore, a new bearish move may be about to begin.
D1 momentum is still declining, so the bearish move may extend further and create a new lower low.
H1 Timeframe
Price moved higher and created a large Gap. However, the location of this Gap is particularly important. If this is a wave C Gap, price may quickly fill the Gap and then continue moving significantly lower.
In the alternative scenario, if price fills only 50% of the upper Gap and then rises strongly above the previous high, we may see a powerful bullish move to the upside.
H1 momentum is currently declining, so the bearish move may continue. During the upcoming H1 bullish retracement, if price fails to create a new high above the previous high, the subsequent decline may extend deeper.
Below the current price, there are FVG and OB zones that have not yet been reached. In addition, a large liquidity zone exists below, which may attract price toward it.
Above the current price, a bearish OB has formed. We can monitor H4 momentum when price returns to this area. If H4 momentum has not yet entered the oversold zone, we may look for Sell opportunities in this area.
In addition, when price returns to fill the Gap, there will likely be at least one rebound. The upper boundary, lower boundary, and 50% level of the Gap are all strong support zones.
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Die Informationen und Veröffentlichungen sind nicht als Finanz-, Anlage-, Handels- oder andere Arten von Ratschlägen oder Empfehlungen gedacht, die von TradingView bereitgestellt oder gebilligt werden, und stellen diese nicht dar. Lesen Sie mehr in den Nutzungsbedingungen.