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momentum
Daily Time Frame Momentum D1
Momentum on the daily frame (D1) is currently trending downward. Therefore, the market is likely to continue its downward trend over the next two to three days.
H4 time frame momentum
Momentum began to shrink in the second half and was preparing to reverse upward. This suggests that the market may see an upward or sideways movement on the H4 frame in the short term.
H1 Time Frame Momentum
Momentum continued to decline in the first half. Therefore, prices are likely to continue falling or move sideways in the short term until first-half momentum moves into oversold territory.
wave structure
Wave structure on frame D1
On the D1 frame, as momentum declines, price may currently be moving within a C-wave downtrend.
This trend is likely to continue at least until the D1 momentum moves into oversold territory.
The possible target of wave C may be around the 4820 area, where WC = WA can be achieved.
Wave structure on H4 frame
H4 momentum is about to reverse, and an upward or sideways trend is likely in the short term.
However, since the main trend of the D1 frame is still downward, this upward trend may not be very strong and may just be a pullback before the downward trend continues.
We will take advantage of this uptrend and look for trading opportunities in the main trend on D1, especially when the H4 momentum reaches overbought territory.
Wave structure on H1 frame
Momentum is currently declining in the first half, so prices may continue to fall or move sideways into the liquidity zone below.
In this move, you should wait until the H1 momentum enters oversold territory and begins to reverse upward. We then keep a close eye on any areas of liquidity that support price.
The following liquidity areas are:
– 5090 – 5102
– 5052
These areas can be monitored for short-term buy trades (buy scalp).
But the main trend on D1 is still bearish, so we will mainly focus on looking for selling opportunities along the trend.
When H4 momentum rises into overbought territory, the liquidity area at the top may transform into a resistance area, namely:
– 5131
– 5167 (important resistance area)
These two areas are considered potential areas to look for sales deals.
trading plan
Short term trading (buy scalp)
We wait until the H1 momentum enters oversold territory and begins a reversal to the upside.
Next, we monitor the area of liquidity supporting the price, which may be an entry area for short-term buy trades, consistent with the bullish momentum anticipated by the H4 framework.
Primary trade (sell with trend)
We wait for H4 momentum to reach overbought territory.
We then monitor areas of liquidity that act as resistance to find entry points for sell trades.
Sales area: 5165 – 5167
Level: 5187
TP1:5131
TP2:5090
TP3:5052
