Alikze »» ARB | Expanded flat modification
2024-07-09

🔍 Technical analysis:  Expanded flat modification 

- It is moving in a downward channel in the weekly and daily time frame.

- The current corrective structure is completing a full 5-wave cycle.

- According to the structure, an expanded flat is being formed.

- This correction can enter an upward trend in the current area or a value lower in the range of 0.39 with the confirmation of the return, which can conquer and cross its previous major ceiling.

 But in the short time frame of 12H, two behavioral scenarios can be considered to continue the process.

💎  Scenario 1:  Keeping the green box, have a return to the neckline range.

💎  The second scenario:  or if the green box area breaks, it will continue the downward correction to the range of 0.39.

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