Long

#FIL → Corrective C wave time H4

Updated

According to the analysis of the previous post, which we had a downward scenario for the daily time, it is moving in a descending channel in the H4 time, the final correction form of which can be an ascent in the form of a complete cycle, at least until the red box area. If the first red box is broken, the next areas will have the ability to be touched respectively. But in the daily time, the previous scenario is still valid and the correction is ongoing. But in lower times, these upward corrections are a response to the previous upward trend.
Frist TP: Red Box1
Sec TP: 5.72
The third profit limit: Red Box2
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Note

It is moving very well according to the analysis. Note that this rising wave is a correction and in the specified areas according to the previous post in the daily time, we should wait for the confirmation of a larger correction wave.

Note

Walking on the trigger is not at all a good sign to continue the trend. Wait, probably if it fills the gap, it is back. If it is not confirmed by FVG, it will fill the bottom of the structure or candle spike.

Note

According to the analysis, it is correcting to the bottom of the spike candle. The green box area would be followed by the continuation of the process if approved. Note that every upward movement will be an X-wave to continue the correction, which I will update the post in the future.

Note

In time h2, after failing to exit the channel, if it cannot break the first red box range (support turned into resistance), the previous bottom will be retested.

Note

According to the movement structure, it should be confirmed above the red box, after which we can enter into the purchase transaction.
Wait for the confirmation above the red box and then enter the buy position.

Note

After fixing the top of the red box and pullback, and now to continue the path to the compression area...

Note

It reached the first supply area and it is breaking. In the event of a break, it will have the ability to grow at least up to 100 previous waves, which is the second profit limit. So trail the profit limit after the breakout.

Note

After touching the supply range inside a congested contraction triangle. If it breaks from above and breaks 5.37, it will have the ability to grow up to 5.49~5.56.

Note

Break from the corner of the pattern and break the supply zone for the second profit limit of the 100% Fibo range.

Note

The next target was Fil Touch currency. Please share your opinions and views with us and support us if this post is useful for you. Thank you.
Now, with the support in the range of 5.46, it will have the ability to reach at least 100% of the previous wave and the specified supply area.

Trade closed: target reached

The target was touched. More than 25% growth.

alikze

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