Wave 5 is here... but are buyers about to get trapped

1D Timeframe (Main Chart)

✅ Elliott Wave Count:

Wave 1–2–3–4–5 structure is clearly marked.

Wave 5 seems to be completing near the upper trendline, aligning with potential C wave of a larger correction.


🔺 Key Zones:

Buyer zone highlighted under Wave 4 – indicating strong demand before Wave 5 push.

Resistance from the descending trendline just above Wave 5 – potential reversal/sell area.

Price region near 1.1757–1.1835 marked as a potential exhaustion zone.



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🕒 4H Timeframe (Inset Chart)

📈 Current Price:

Trading around 1.1755, approaching the resistance cluster (1.1757–1.1835).


🔻 Potential Scenarios:

1. Immediate Sell-Off:

If Wave 5 has completed, expect a retracement back to previous demand zones (around 1.1683, 1.1446, or even 1.1362).



2. Final Push Up:

If minor Wave 5 isn't finished yet, price could test the 1.1833–1.1853 area before reversing.