I’m currently holding long positions from the end of Wave 2 (entry around 16,849). I took partial profits after Wave 3 (around 19,000–19,200) and now waiting for 4H TF Wave 4 to pull back and give a re-entry.
Once Wave 4H TF Wave 4 completes, I plan to scale back in and target the 19,500–19,900 zone.
If price reaches that zone and shows rejection, I’ll look to switch bias and short as I believe that will begin a daily Wave 2 correction to the downside.
Key levels I’m watching:
• Wave 2 support: 16,849
• Wave 3 resistance zone / TP1: 19,000 area
• Wave 5 supply zone / Final TP: 19,500–19,900
• Sell zone if confirmed reversal: 19,500–20,000
• Next short target (after confirmation): TBD once Wave 5 completes
Will update this idea as Wave 4 forms and price action confirms the next leg.
Once Wave 4H TF Wave 4 completes, I plan to scale back in and target the 19,500–19,900 zone.
If price reaches that zone and shows rejection, I’ll look to switch bias and short as I believe that will begin a daily Wave 2 correction to the downside.
Key levels I’m watching:
• Wave 2 support: 16,849
• Wave 3 resistance zone / TP1: 19,000 area
• Wave 5 supply zone / Final TP: 19,500–19,900
• Sell zone if confirmed reversal: 19,500–20,000
• Next short target (after confirmation): TBD once Wave 5 completes
Will update this idea as Wave 4 forms and price action confirms the next leg.
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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.