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momentum
– Momentum on daily frame D1 is currently bearish
→ There is a high probability that it will continue to fall in the next 2-3 days
– H4 momentum has entered the oversold zone
→ Reversal is very likely
→ Expect an upward correction or sideways movement
→ Until H4 momentum reaches the overbought zone
– Momentum still declining in first half but showing signs of bullish reversal
→ We need confirmation
→ If confirmed, a rebound or sideways movement is possible in the short term
Elliot wave structure
– Momentum on D1 turns bearish
→ There is a high probability that the 4th wave has been completed
Targets for the 5th wave of decline:
→ 4282 (Fibonacci 0.382)
→ 3791 (Fibonacci 0.618)
→ The current decline is still relatively limited
→ Panic selling cannot be ruled out in the next 2-3 days
→Complete the 5th wave structure
H4 structure
– H4 momentum is in oversold territory
→ Indicates possible rebound
-but:
→ Bearish candle with smaller body
→ There is not enough evidence that the second wave is complete
→ We need more monitoring
→ Structurally:
– Markets tend to decline strongly in Wave 3
→ But in the short term (in terms of momentum):
– An upward correction is still possible
⇒ Therefore:
– It is best to avoid long trades at the moment
– Waiting for H4 momentum to reach the overbought zone
→ Then use the liquidity areas to find selling opportunities
Important conditions:
→ The price must not exceed the 4802 level
H1 structure
– Prices show signs of rebound as first half momentum attempts to reverse to the upside
→ We need confirmation
– If the price returns to the 4697 area:
→ This area may no longer be a strong resistance
→ Price may extend to 4737
→ In this area:
– Find sales opportunities combined with H4 momentum
-Alternatives:
→ If the momentum of H1 or H4 reaches the overbought zone and then reverses downwards
→ Price failed to break through 4697
→ This could be an early sign that Wave 2 is complete
