Momentum
D1 momentum is still rising. Therefore, on the D1 timeframe, the uptrend or sideways movement may continue until D1 momentum reaches the overbought zone and reverses.
H4 momentum is currently rising. Therefore, on the H4 timeframe, there is a possibility that the uptrend will continue.
H1 momentum is also rising. This means the upward movement on H1 is still continuing.
Elliott Wave Structure
D1 Wave Structure
The current upward movement based on D1 momentum has not yet shown enough clarity and sharpness to confirm a new trend. However, at least we have already formed a daily low. At this stage, we need to continue observing for clearer confirmation.
H4 Wave Structure
H4 momentum is currently rising. If H4 momentum reaches the overbought zone and price creates a new high, then we may have confirmation that wave 2 has been completed.
In addition, during the next stage, we need to see a fast, strong, and sharp movement to reflect the characteristics of wave 3. If price fails to achieve this, then the corrective structure may still continue.
H1 Wave Structure
The target BB zone has supported price well so far. From this zone, we have already seen a rebound that has created a very potential profit move.
At the moment, we need to continue observing. Since H4 momentum is rising, the short-term trend is still upward. In addition, H1 momentum is also rising, showing that the upward movement on H1 is still continuing.
Looking at the current pattern, the price structure may be either a black 12345 five-wave structure or a black ABC three-wave structure.
Currently, the upward movement is either wave 3 or wave C. The main difference lies in the target where this move ends.
If price closes below 4539, there is a high probability that this is wave C. In that case, a strong decline may occur.
If price closes above 4539, then we may have wave 3. After that, wave 4 may form a shallow and sideways correction before price continues with another upward rebound.
Price has created an OB at 4481. However, if this is wave 3, the probability of price pulling back to this OB is quite low. Therefore, we expect price to close above 4510. In that case, price will create a BB at 4504. This will become the order block where, if price pulls back, we can look for Buy opportunities.
Trading Plan
Currently, we have an OB below at 4481.
In addition, we will wait for price to break above 4510 to create a BB at 4504. When price pulls back to this zone, we will look for Buy entries.
Dagangan aktif
Market Update
H4 momentum is approaching the oversold zone. Therefore, the upward move in H4 momentum may still have around 1 to 2 H4 candles left.
H1 momentum is preparing to reverse upward. Therefore, on the H1 timeframe, we can expect an upward move.
Price has risen strongly and approached the 4539 area. With this sharp and strong upward move, we expect this to be wave 3. Currently, price is moving sideways within wave 4.
The target of wave 4 is the BB order block at the 4518 area. This is also a confluence zone with the 0.382 Fibonacci retracement of wave 3, where wave 4 often tends to end.
After that, the target of wave 5 could reach the 4572 area.
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Penerbitan berkaitan
Penafian
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📢 Sometimes signals appear on TradingView with a slight delay!
🚀 Join our Telegram channel to get instant updates and real-time scalping signals:
👉 t.me/+lASNLyXKqcFiYmJl
🚀 Join our Telegram channel to get instant updates and real-time scalping signals:
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Penerbitan berkaitan
Penafian
Maklumat dan penerbitan adalah tidak bertujuan, dan tidak membentuk, nasihat atau cadangan kewangan, pelaburan, dagangan atau jenis lain yang diberikan atau disahkan oleh TradingView. Baca lebih dalam Terma Penggunaan.