Alikze »» FTM | Wave 5 correction - 1H
2024-10-05

🔍 Technical analysis:  Wave 5 correction - 1H 

- According to the analysis presented in the  previous post , in the weekly time frame, the first target has been the neckline, which was the supply area.

- Currently, in the 1H time frame, after breaking the zone, a correction pattern is being formed.

- Wave 4 correction in the range of the green box has formed a continuing downward pattern.

 - This corrective wave is in the form of wave 4 in an ascending channel, which by breaking it to the specified areas, this corrective cycle can be extended.

Therefore, this wave can meet the demand after touching the specified areas and form an upward corrective cycle, which should be reviewed and updated.

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