1. Elliott Wave Structure
Price seems to be in wave (4) of a 5-wave drop. A final move down (wave (5)) is expected toward the 4,460–4,340 zone, which lines up with Fibonacci targets and a strong support area.
2. Volume Spread Analysis (VSA)
Several VSA signals like No Demand, Supply, and Professional Selling appeared on the chart. These point to weak buying pressure and strong selling interest.
3. Multi-Timeframe Channel Zones
Price rejected from the top of long-term (12M) channels and is now dropping toward lower channel zones on multiple timeframes (6M, 3M, 1M).
4. Trade Plan
Short trades are in play with clean stop loss and take profit targets. The setup aims for the 4,460–4,340 support area as the main target zone.
Summary
This setup combines:
Elliott Wave theory
Volume analysis
Multi-timeframe price channels
All pointing to a likely move lower. Let's see how it plays out!
Price seems to be in wave (4) of a 5-wave drop. A final move down (wave (5)) is expected toward the 4,460–4,340 zone, which lines up with Fibonacci targets and a strong support area.
2. Volume Spread Analysis (VSA)
Several VSA signals like No Demand, Supply, and Professional Selling appeared on the chart. These point to weak buying pressure and strong selling interest.
3. Multi-Timeframe Channel Zones
Price rejected from the top of long-term (12M) channels and is now dropping toward lower channel zones on multiple timeframes (6M, 3M, 1M).
4. Trade Plan
Short trades are in play with clean stop loss and take profit targets. The setup aims for the 4,460–4,340 support area as the main target zone.
Summary
This setup combines:
Elliott Wave theory
Volume analysis
Multi-timeframe price channels
All pointing to a likely move lower. Let's see how it plays out!
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.
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.