$VELVET The chart shows a strong uptrend:
✅ Price is above both the 9 EMA and 26 EMA.
✅ Higher highs and higher lows are intact.
⚠️ The latest candles have long upper wicks, showing sellers are defending the area around 0.490–0.500.
Key Levels
Resistance: 0.4900–0.5000
Support 1: 0.4700
Support 2: 0.4550
Trading Plan
Long
Wait for a 1H close above 0.5000 before entering.
Targets: 0.5200 → 0.5400
Stop-loss: Below 0.4700
Short
Consider a short only if price is rejected from 0.490–0.500 and closes below 0.4700.
Targets: 0.4550 → 0.4400
Stop-loss: Above 0.4950
#tecnicalanalayist863
✅ Price is above both the 9 EMA and 26 EMA.
✅ Higher highs and higher lows are intact.
⚠️ The latest candles have long upper wicks, showing sellers are defending the area around 0.490–0.500.
Key Levels
Resistance: 0.4900–0.5000
Support 1: 0.4700
Support 2: 0.4550
Trading Plan
Long
Wait for a 1H close above 0.5000 before entering.
Targets: 0.5200 → 0.5400
Stop-loss: Below 0.4700
Short
Consider a short only if price is rejected from 0.490–0.500 and closes below 0.4700.
Targets: 0.4550 → 0.4400
Stop-loss: Above 0.4950
#tecnicalanalayist863