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momentum
D1
Momentum on the daily chart (D1) shows signs of a bullish reversal.
→ We need to wait for the close of today’s candle to confirm.
-If confirmed:
→ Expect bullish or sideways moves next week
H4
H4 momentum is approaching the oversold zone.
→ This may cause the H1 frame to move down
H1
Momentum in the first half was already in oversold territory and showing signs of reversal.
→ The current upward momentum is weakening
→ Very likely:
– come down
– or move laterally
wave structure
D1
The recent strong decline suggests that price is moving within a C wave.
– Wave C target: 4282
However:
– D1 Momentum Shows Signs of Shifting Upward
→ A corrective rebound may occur
→ IMPORTANT NOTE:
– If the bullish candle is weak and indecisive
→ The decline may continue later
→ Momentum reaches overbought territory and then reverses
H4
The strong declines over the past two days indicate:
→ This may be wave C in wave 4 of the 5-wave structure
– If this is wave 4:
→ Due to the extension of the second wave
→ Wave 4 is expected to be shorter
However:
– The current duration is still unbalanced compared to wave 2
→So:
– Price may still move sideways to complete wave 4
H1
– H4 momentum may require additional H4 candles to reach overbought territory
→So there is still room for growth in H1
– Target area: 4804
→ Fibonacci level represents 0.382, which is an important selling area
– ABC correction structure formation:
→ Price has broken above the WA = WC level
However:
The basic conditions (H4 enters the oversold zone) are not met
→ So this level cannot be entered
→ Next goal:
– 4804 = WC = 1.618 WA
notes:
– The current ABC structure is relatively short-lived
→ It may be part of a larger orthodontic structure (flattened)
→ In this case, the price may return to test the previous lows
trading plan
Sales area: 4803 – 4805
– Stop Loss (SL): 4823
– Target 1 (TP1): 4710
– Target 2 (TP2): 4584
– Target 3 (TP3): 4285
