Technical analysis by WoWAcEDuDe about Symbol ARB: Buy recommendation (8/26/2024)

According to higher timeframes, the market sentiment is bullish. We are moving within an ascending channel with the potential to rise to 0.7416. To increase the probability of this outcome, the price needs to establish itself above the ascending channel.Locally, within the range of the daily breaker block (D BB) and the daily imbalance (D FVG), three potential entry points are visible:1. Liquidity grab (Sellside liquidity)2. 0.5 Fibo3. 0.618 Fibo / bottom of the ascending channel4. The target is the local high, which is at the midline of the channel.Locally, based on the EFIATR oscillator, volume, and liquidation levels, there is a likelihood of growth. According to Elliott Wave theory, a 5-wave pattern and an ABC correction in the 4th wave are visible, which further increases the probability of upward movement.