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Alikze »» FTM | Continue reforming on the descending channel
🔍 Technical analysis: Continue reforming on the descending channel
- In the analysis presented in the previous post, after leaving the density to the first blue strip area it made the first correction.
- Currently, it is moving in a downtrend in a downtrend in a downtrend.
- Depending on the type of behavior and structure of this return, it can extend to the middle of the channel or the Test of the Neckline area.
- So we will expect to continue the correction after the middle of the channel to the floor of the canal, which can then continue with the channel breakdown to 0.26.
- This correction is generally for the completion of the 2 -correction wave that can have a complex combination modification.
- So we will continue to consider the upward trend after the short -term correction is completed.
💎Alternative scenario: After supporting the blue and money -wide range, it can have a test to the supply area, which can continue up to the channel and fibo 1.272 if it fails.
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Alikze.
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$BINANCE:FTMUSDT
- In the analysis presented in the previous post, after leaving the density to the first blue strip area it made the first correction.
- Currently, it is moving in a downtrend in a downtrend in a downtrend.
- Depending on the type of behavior and structure of this return, it can extend to the middle of the channel or the Test of the Neckline area.
- So we will expect to continue the correction after the middle of the channel to the floor of the canal, which can then continue with the channel breakdown to 0.26.
- This correction is generally for the completion of the 2 -correction wave that can have a complex combination modification.
- So we will continue to consider the upward trend after the short -term correction is completed.
💎Alternative scenario: After supporting the blue and money -wide range, it can have a test to the supply area, which can continue up to the channel and fibo 1.272 if it fails.
»»»«««»»»«««»»»«««
Please support this idea with a LIKE and COMMENT if you find it useful and Click "Follow" on our profile if you'd like these trade ideas delivered straight to your email in the future.
Thanks for your continued support.
Best Regards,❤️
Alikze.
»»»«««»»»«««»»»«««
$BINANCE:FTMUSDT
Note
According to the predicted movement path, after reaching the middle of the channel, it encountered selling pressure and is reaching the first target, the bottom of the channel is descending. Trade closed: target reached
After touching the first target in the area of the bottom of the channel, the second target was also touched. 
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Related publications
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.