Alikze »» OP | C wave correction
2024-07-09

🔍 Technical analysis:  C wave correction 

- It has been moving in an upward channel in weekly and daily time.

- It is currently moving in a downward channel.

- The last upward wave was a complete cycle of 5 waves, which was able to grow to the size of 0.78 of the previous wave, which then formed a corrective structure.

- At present, the current corrective structure is a three-wave that can have two behavioral scenarios.

💎  First scenario:  If the current zone cannot stabilize above the golden zone, wave C can extend to the specified PRZ zones (each of the PRZ zones can be a return zone). Therefore, if the current area is not maintained, the downward trend can continue.

💎  The second scenario:  if it encounters demand in the golden zone, it can continue an upward trend in the form of a rising wave 3 or C, which at first can conquer its previous major ceiling and then continue to grow until the supply zone.
If the behavior and structure of the post changes, it will be updated.
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