Wordmhole trading plan
We have broken through the resistance at $0.26, but the asset remains in a downtrend.
Potential Reversal Scenario
Break and Hold Above $0.3548: A close above $0.3548 on at least the 1-day (1D) timeframe, preferably on the 1-week (1W) timeframe, could indicate a potential trend reversal.
Impulsive Move to FVG Zone $0.45 - $0.61: An even stronger reversal signal would be a rapid, impulsive move into the Fair Value Gap (FVG) between $0.45 and $0.61. From this zone, we can look for corrections into newly formed areas, providing potential long opportunities.
Key Levels to Watch
Support Levels: $0.26 – Previously a resistance, now acting as support.
Resistance Levels:
Trading Outlook
🔍 Disclaimer: This analysis is for informational purposes only and should not be considered financial advice. Cryptocurrency trading involves significant risk. Always conduct your own research before making any investment decisions.
Potential Reversal Scenario
Break and Hold Above $0.3548: A close above $0.3548 on at least the 1-day (1D) timeframe, preferably on the 1-week (1W) timeframe, could indicate a potential trend reversal.
Impulsive Move to FVG Zone $0.45 - $0.61: An even stronger reversal signal would be a rapid, impulsive move into the Fair Value Gap (FVG) between $0.45 and $0.61. From this zone, we can look for corrections into newly formed areas, providing potential long opportunities.
Key Levels to Watch
Support Levels: $0.26 – Previously a resistance, now acting as support.
Resistance Levels:
- $0.3548 – Critical level for potential reversal.
- $0.45 - $0.61 – FVG zone indicating significant bullish momentum.
Trading Outlook
- Continuing the Downtrend: Trade with the current trend by considering short positions, keeping a stop-loss above $0.3548.
- Watching for Reversal Signs: Monitor for a break and sustained trading above $0.3548 on higher timeframes.
- Be alert for a quick, impulsive surge into the $0.45 - $0.61 FVG zone for potential long opportunities.
🔍 Disclaimer: This analysis is for informational purposes only and should not be considered financial advice. Cryptocurrency trading involves significant risk. Always conduct your own research before making any investment decisions.
Penafian
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