Alikze »» FTM | Triple Top - 4H
2024-11-03

🔍 Technical analysis:  Triple Top - 4H 

- In the analysis presented in the  weekly time frame , after the formation of a reversal top pattern, the first target and the 1.272 Fibo area were touched. After that, it faced a selling pressure in the Fibo area of ​​1.272.

  

- Further on in the  daily analysis , it was pointed out that due to the selling pressure in the middle of the ascending channel, it can face the demand again with the pullback to the broken structure and the Buyer Zone, otherwise, with the continuation of the selling pressure, it can reach the bottom of the ascending channel. also touch

  

- But in the 4-hour time frame, due to a triple top pattern in the Fibo range of 1.272, it faced selling pressure and has led to the continuation of the correction to the bottom of the ascending channel in the 4-hour time frame.

- According to the behavior and structure, it can make a modification to the Order Block area with pullback to the red box area.

💎 In addition, in case of selling pressure, correction can continue up to the 0.3906 area, and in case of demand, it can increase to the 0.62 area.

💎 In addition, if it can break the red box area, it can retest the middle range of the channel and Fibo 1.272. 
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