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momentum
– Momentum on daily frame (D1) shows signs of bearish reversal
→ If the selling pressure continues until the close of the day’s candle, the reversal will be confirmed
→ This may result in a downward or sideways move for several days
– H4 momentum is declining
→ Expect the downward or sideways trend to continue over the next 2-3 H4 candles
– Momentum in the first half is in oversold territory and ready to reverse upward
→ There may be a short-term rebound in the H1 framework
Elliot wave structure
On the daily frame (D1):
– Formation of a bearish candlestick with signs of momentum reversal
→ This indicates that wave 4 is almost complete
→ If the D1 candle closes with continued downward momentum:
– Wave 4 may be complete
The market may enter 5 waves, with a target of 3791
On H4 framework:
– A strong bearish candle appears
-Momentum continues to weaken
→ If price closes below 4609:
– This is the preliminary condition indicating the completion of Wave 4
→ If level 4358 is broken:
– Wave 4 completion confirmed
– Downside target 3791 becomes active
On H1 frame:
– Momentum is preparing to reverse to the upside
→ A short-term adjustment trend is expected
– Price is currently in the liquidity zone (yellow zone)
→ Lower boundary 4641 may act as support
→ Prices are likely to rebound based on the momentum in the first half of the year
→ If the current decline is considered the first wave:
-The next rally will be wave 2
– The expected target for the first wave is the Fibonacci level 0.618
→ This is a good area to look for opportunities to end the second wave of selling
