Alikze »» FIL | Complementary scenario of correction wave 2

Jul 5

🔍 Technical analysis: Complementary scenario of wave 2 of super cycle

- In the analysis presented in the previous post, after reaching the range of 6.25 in a short-term ascending channel, a bearish reversal candle was encountered.

- According to the structure of this correction in the form of a 5-wave zigzag, it can be a correction in the form of a 2-wave correction of the entire previous upward wave.

- Therefore, if this wave ends in the green box area and meets the demand, we should wait for a return cycle to the red box area (supply area).

- If this reversal can break the zone after a short correction in the form of wave 3 ascending super cycle and stabilize above the zone, we will have the scenario of wave 3 ascending super cycle, which further updates will be provided subsequently.

⚠️In addition, if this amendment enters the range of invalid level, this scenario will be invalidated and should be reviewed and revised and the scenario of the second behavioral movement should be replaced.

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Aug 1

Note

In line with the predicted trajectory, it has faced selling pressure after reaching the supply zone. Therefore, I expect that after completing the last corrective lag, it will face demand in the region and navigate the upward path.

Aug 5

Note

According to the latest update, after not being able to break the supply area, it has been modified to extend to the green box area. Currently, the last modified log has been completed. Therefore, I expect it to enter an upward rally after the confirmation of the green box. Also note that this analysis will be invalidated if the 2.41 area is touched.

Aug 24

Note

According to the presented analysis and the movement path, after meeting the supply zone, the correction continued until the green box zone, and then met the demand in the green box zone. From the demand area, it has grown by more than 51%.

Oct 20

Note

According to the presented analysis, the formation of an inverted head and shoulders pattern is indicated. It is currently in wave 3 of 3, which will have the ability to reach the supply area.

Nov 12

Trade active

By forming a higher lag and creating demand and completing the correction of wave 2, it can break the important supply area for the first target of Fibo 0.50 according to the ascending wave 3 or C structure.

4 days ago

Note

FULL TP.