🔍 Current Wave Structure
Price is currently correcting within a WXY structure, also known as a double zigzag. At the moment, the market is progressing through wave Y, with two potential targets:
🎯 Target 1: 3245 – already reached, and price has bounced sharply from this zone.
🎯 Target 2: 3215 – a deeper target, requiring further confirmation from price action and real-time momentum.
📈 If wave Y has already ended at 3245, the market may now be in wave 1 of a new bullish cycle. Once wave 1 completes, we’ll look for wave 2, which typically offers a prime entry point for wave 3.
👉 Wave 2 often forms as a zigzag or flat correction. Using Fibonacci confluence and liquidity zones, the potential wave 2 pullback area is 3265 – 3262.
⚡️ Momentum Outlook
🕯 D1: Momentum is entering oversold territory → high probability of bullish reversal today or tomorrow.
🕯 H4: Reversal setup is forming; current H4 candle closes in just over an hour → watch for confirmation.
🕯 H1: Momentum is rising. Wait for a pullback in H1, followed by renewed bullish momentum without breaking below 3245 — that’s likely the end of wave 2 and the entry point for wave 3.
📌 Important Note:
If H4 momentum reverses downward and price fails to break above 3324, it could signal a continuation of the broader downtrend, with 3215 remaining as the next wave Y target.
🛒 Trade Setup
BUY ZONE: 3265 – 3262
Stop Loss: 3255
Take Profits:
• TP1: 3290
• TP2: 3324
• TP3: 3346
❗️ If price breaks below 3245, it would confirm that wave Y is still in progress. In that case, monitor the 3215 zone for a new buying opportunity.
Trade active
📌 A near miss...It’s unfortunate — our entry was set at 3265, but price only dipped to 3266 before surging over 800 pips straight to TP2.
Sometimes, all it takes is a single pip.
Stay disciplined — opportunities will always come again.
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👉 Join the channel to receive more scalping signals!
Channel Telegram: t.me/+XkFQ95yHVOEwNDc1
Channel Telegram: t.me/+XkFQ95yHVOEwNDc1
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.