✅ Fibonacci Levels (Recent Leg)
From the chart:
- 23.6% retracement = 24,763.00
- 38.2% retracement = 24,732.10
- 50% retracement = 24,701.35
- 61.8% retracement = 24,682.10
- 100% retracement = 24,601.40
🧩 Interpretation
🔹 Wave Count Possibility:
This appears to be part of a corrective Wave 4 or microstructure correction within Wave 5 on 15-min scale:
- Impulse up from 24,601 → 24,763
- Followed by an ABC correction (currently holding above 24,680)
- Price tested 61.8% retracement (24,682) multiple times → forming a potential intraday base
🔹 Current Price Action:
- Trading around 50% Fib level (24,701).
- Holding above 61.8% retracement (24,682) is critical for intraday bullish setup.
- A move above 24,763 (23.6%) may confirm bullish continuation or breakout attempt.
🟢 Trade Bias and Setup (Intraday)
| Direction | Entry | Stop Loss | Target 1 | Target 2 | R:R |
|---|---|---|---|---|---|
| Long | 24,702–24,710 | 24,675 | 24,763 (breakout) | 24,800+ | 2:1 or better |
| Short | Only if 24,675 breaks | Below 24,675 | 24,640 → 24,601 | Risky if Fib holds | <2:1 |
🧠 Summary
- 15-min chart aligns well with 1-hr Fib zone: 24,508–25,038.
- Holding 24,682 (61.8%) is critical. Below that, expect sharp decline toward 24,600.
- If price rebounds above 24,763, potential for Wave 5 rally toward 25,000+ remains intact.