I'm currently monitoring a potential Wave 5 setup, but Wave 4 is still unfolding. The market has completed Waves 1 through 3 with clear impulsive behavior, and now it's in a corrective phase, forming Wave 4 — likely a complex correction or a running flat.
What's interesting here is that price is retracing into a zone filled with clean, well-structured bullish order blocks on the H1 and H4 timeframes. These OBs are aligned with premium Fibonacci retracement levels (61.8%-78.6%) and are showing early signs of absorption and rejection, suggesting institutional interest.
Once Wave 4 completes and we get a valid BOS or CHoCH to the upside, I’ll be looking for a high-probability long entry from within the refined OB zone. The goal is to catch the beginning of Wave 5, ideally aiming for a new high or an extended fifth.
This setup blends Elliott Wave theory with smart money concepts, offering a confluence-rich, high R:R opportunity if confirmed.
What's interesting here is that price is retracing into a zone filled with clean, well-structured bullish order blocks on the H1 and H4 timeframes. These OBs are aligned with premium Fibonacci retracement levels (61.8%-78.6%) and are showing early signs of absorption and rejection, suggesting institutional interest.
Once Wave 4 completes and we get a valid BOS or CHoCH to the upside, I’ll be looking for a high-probability long entry from within the refined OB zone. The goal is to catch the beginning of Wave 5, ideally aiming for a new high or an extended fifth.
This setup blends Elliott Wave theory with smart money concepts, offering a confluence-rich, high R:R opportunity if confirmed.
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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.