Everyone's expecting a pullback in $VELVET but I think it's about to break out above $0.50 resistance level.
$VELVET - LONG
Entry: 0.48 – 0.50
SL: 0.45
TP1: 0.55
TP2: 0.60
TP3: 0.65
Why this setup?
* 1H RSI is coiled at 60, ready for a squeeze
* ATR is expanding on the 4H, indicating increased volatility
* My bias confidence is high due to the 15m/1H timeframe divergence
* The $0.50 level is a major magnet, a reclaim here could be significant.
Debate: Are you fading the breakout above $0.50 or riding the potential wave?
$VELVET
$VELVET - LONG
Entry: 0.48 – 0.50
SL: 0.45
TP1: 0.55
TP2: 0.60
TP3: 0.65
Why this setup?
* 1H RSI is coiled at 60, ready for a squeeze
* ATR is expanding on the 4H, indicating increased volatility
* My bias confidence is high due to the 15m/1H timeframe divergence
* The $0.50 level is a major magnet, a reclaim here could be significant.
Debate: Are you fading the breakout above $0.50 or riding the potential wave?
$VELVET