Pattern: Completed 5-Wave Impulse + ABC Zigzag Correction
Current Price: 1.3056
Forecast: Bearish B-Wave Reversal Incoming?
Technical Breakdown:
Major impulse from 2007 to 2022 marked as 1 to 5
A corrective ABC move completed at the key resistance zone
Price currently facing rejection from the C wave top
High probability of a B-Wave trap forming before a drop to the 1.14 zone
Strong confluence with historical structure and Fibonacci retracement
Next Move:
Watch for a weekly candle close below 1.28 to confirm the reversal. Bears may target the 1.14 zone in the next leg down.
Wave Structure Visualized (Top-Right Inset):
Shows possible B-Wave drop before bullish C continuation — a perfect trap zone for early bulls.
Trade Plan:
Short bias below 1.30 with SL above 1.32
Target: 1.18–1.14 zone
Re-assess price action near 1.14 for long opportunities
Stay Sharp, Stay Green!
Current Price: 1.3056
Forecast: Bearish B-Wave Reversal Incoming?
Technical Breakdown:
Major impulse from 2007 to 2022 marked as 1 to 5
A corrective ABC move completed at the key resistance zone
Price currently facing rejection from the C wave top
High probability of a B-Wave trap forming before a drop to the 1.14 zone
Strong confluence with historical structure and Fibonacci retracement
Next Move:
Watch for a weekly candle close below 1.28 to confirm the reversal. Bears may target the 1.14 zone in the next leg down.
Wave Structure Visualized (Top-Right Inset):
Shows possible B-Wave drop before bullish C continuation — a perfect trap zone for early bulls.
Trade Plan:
Short bias below 1.30 with SL above 1.32
Target: 1.18–1.14 zone
Re-assess price action near 1.14 for long opportunities
Stay Sharp, Stay Green!
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Related publications
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.