Abu Dhabi Islamic Bank (ADIB) – ADX– 1H chart -LongAbu Dhabi Islamic BankADX:ADIBMESHANLADIB is showing textbook Elliott Wave behavior. After a strong impulsive wave structure into wave (3), price corrected cleanly into the **Demand Zone** and held above the key support at **21.16** – right in line with a classic wave (4) retracement. The drop into this zone followed a **bullish descending channel (bullish DT)**, indicating exhaustion of sellers and potential reaccumulation. Price is now rebounding from this base, suggesting wave (5) may just be starting. A beautiful confluence of: * Fib levels, * Demand zone, * Channel breakout, * Wave (4) support. The bulls are stepping in. This is **prime positioning**. ### 🟩 **Demand Zone** * Key Zone: **21.10–21.78 AED** * Clean support on both price structure and psychology; price wicked into zone but rejected downside. ### 🎯 **Trade Idea** * **Entry**: 21.70–21.80 AED (current levels) * **Stop Loss**: 21.10 AED (beneath structure low) * **Take Profit**: 27.42 AED (projected wave (5) target) * **Risk/Reward**: \~5.48R "The market is a device for transferring money from the impatient to the patient." – Warren Buffett ### ⚠️ **Disclaimer** This is not financial advice. Always perform your own analysis and manage your risk accordingly. This is for educational purposes only.