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momentum
W1
– Weekly momentum still declining
It may take another 1 to 2 weeks for D1 to reach oversold territory and reverse
D1
– Momentum is in a state of consolidation (compression)
-Downtrend still dominates
-But a reversal of momentum can happen at any time
H4
-Momentum is declining
– There is a high probability that the decline will continue when the market opens on Monday
wave structure
W1 time frame
– Wave C has formed 3 weekly candles
-Momentum remains sluggish
– More likely than not, continued decline to lower targets
D1 time range
– Inside wave C, a 5-wave structure is formed (red)
– Currently in wave 3
– D1 Momentum Consolidation → Downtrend May Continue
-But momentum could reverse at any time
– When the reversal is confirmed
→ This could mark the end of Wave 3 and the beginning of Wave 4
– Weekly momentum requires 1 to 2 additional candles to move into oversold territory
→ This provides enough time for waves 4 and 5 to form (red)
H4 wave structure
– Momentum on H4 requires approximately 2-3 additional candles to enter oversold territory
– Notes
→ Latest data for Friday
→ After the weekend, market conditions may change when the market opens on Monday
-Based on current data
→ Downtrend may continue
→ Important support area: 4406
– When price reaches this area
→ A rebound may occur, forming a 4th wave
– Characteristics of Wave 4
→ weak apostasy
→ They often have complex structures
→ Planar/triangular/extended lateral movement
– After completion of wave 4
→ Expected to eventually decline
→ Complete wave 5 towards the lower goal
target area
– Nearby targets: 4282
→ On frame D1, wave C is equal to wave A
plan
– The trading plan will be updated when the market opens
