Alikze »» OP | Ascending channel

🔍 Technical analysis: Ascending channel

- In continuation of the analysis presented in the previous post, after dealing with the descending channel, it was corrected for a while. which led to the completion of correction leg C. Finally, the modification leg in the range of PRZ-1 met with demand.

- Currently, it is moving in a short-term ascending channel.

- Due to the exit from the medium-term downward channel and pullback to it, an upward trend has been formed.

- Therefore, I expect it to move upward in this channel and continue its growth until the supply range.

💎Alternative scenario: If it does not have the ability to exit the golden zone and faces the weakness of the trend, the correction can continue until the origin of the movement.
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註釋

According to the predicted movement path, after 11% growth up to the top of the channel, it was faced with a 24% correction, and at the bottom of the ascending channel, it faced demand again, which has grown by more than 16% so far.

註釋

By forming a Double Bottom pattern at the bottom of the ascending channel, it has encountered demand and according to the direction of movement, it can retouch the targets of the channel ceiling and the supply area (red box).