FTM/USDT- Correction continues.Important levels/Global patterns
Hello everyone, analyzed the FTM/USDT pair
In the review, a falling wedge can be seen, which indicates that the big player is accumulating positions.
Also, a minor figure is a symmetric triangle, which in many cases is broken down impulsively. If we combine these two patterns, we can assume that the price will continue to fall to at least $ 0.36.
This level and the zone of accumulation of buy orders is still one of the key levels. Since according to the Fibonacci grid it is the level of 0.618, which is corrective.
The correction of this growth has already amounted to 60%, which is a strong sign of oversold.
Personally, I would, relying on my trading system, place 2 pending buy orders in a white rectangle. in a range such as:
$ 0.348-0.368
But one factor warns, it is the shadows of the candles, which the big player can close with full-fledged candles.
But I would prefer to work long, with a short stop loss only after the price rolls back from this level.
The volume for sale is weakening.
Also, if the price goes beyond the dotted resistance line, open a long after confirmation.
Indicators MACD, KDJ and RSI on the 4 hour timeframe are in need of correction.
Trade with your trading system, do not overestimate the lot in the position and do not overestimate the risk management.
Join our free, open community - share your thoughts, schedules, and knowledge with everyone. There are no VIP channels, no premium groups, no annoying ads. Free society and free crypto trading.
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In the review, a falling wedge can be seen, which indicates that the big player is accumulating positions.
Also, a minor figure is a symmetric triangle, which in many cases is broken down impulsively. If we combine these two patterns, we can assume that the price will continue to fall to at least $ 0.36.
This level and the zone of accumulation of buy orders is still one of the key levels. Since according to the Fibonacci grid it is the level of 0.618, which is corrective.
The correction of this growth has already amounted to 60%, which is a strong sign of oversold.
Personally, I would, relying on my trading system, place 2 pending buy orders in a white rectangle. in a range such as:
$ 0.348-0.368
But one factor warns, it is the shadows of the candles, which the big player can close with full-fledged candles.
But I would prefer to work long, with a short stop loss only after the price rolls back from this level.
The volume for sale is weakening.
Also, if the price goes beyond the dotted resistance line, open a long after confirmation.
Indicators MACD, KDJ and RSI on the 4 hour timeframe are in need of correction.
Trade with your trading system, do not overestimate the lot in the position and do not overestimate the risk management.
Join our free, open community - share your thoughts, schedules, and knowledge with everyone. There are no VIP channels, no premium groups, no annoying ads. Free society and free crypto trading.
LINK IN BIO
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