Wave Structure: 1. First impulse targeting 0.32 zone 2. Second wave aiming for 0.40 resistance 3. Final wave projection to 0.47 area
Volume Analysis: • Declining volume in downtrend • Potential accumulation phase beginning • Watch for volume confirmation on breakout
Risk Management: • R:R Ratio for TP1: 1:6.25 • R:R Ratio for TP2: 1:9.5 • R:R Ratio for TP3: 1:13.9
Key Invalidation Points: • Break below 0.20 invalidates setup • Weekly close below entry zone cancels pattern • Failure to break TP1 requires position review
Trade Management: 1. Scale in: 0.21-0.22 zone 2. Move stop loss to break even after TP1 3. Trail stops for remaining position 4. Take partial profits at each TP
Timeframe: Position duration expected 4-6 weeks into early 2025
Note: This forecast based on technical analysis. Always manage risk appropriately and DYOR.