$VELVET /USDT
While most are focused solely on the 1D range, this pair has just formed a setup that many will overlook. We're looking at a clear tactical opportunity.
$VELVET - SHORT
Trade Plan:
Entry: 0.115350 – 0.116064
SL: 0.119135
TP1: 0.113136
TP2: 0.111422
TP3: 0.108851
Why this setup?
The MTF analysis on the 4h chart confirms a short bias with 52% confidence, providing an accurate read of the market.
The RSI on the 15m is sitting at 44.39, remaining below 50 and leaving room for downward movement before hitting oversold zones.
The ATR on the 1h is set at 0.003324, suggesting that a breakout from the current range could be violent; we are currently at the entry reference of 0.115707.
The first target (TP1) is just 2.2% away, though the main value of the trade is projected towards TP2 at 0.111422.
Do you trust a low-confidence short while the daily trend remains in range, or would you prefer to wait for a confirmed breakout below 0.115350?
#VELVET #Trading #BinanceSquare #CryptoAnalysis #WriteToEarn
While most are focused solely on the 1D range, this pair has just formed a setup that many will overlook. We're looking at a clear tactical opportunity.
$VELVET - SHORT
Trade Plan:
Entry: 0.115350 – 0.116064
SL: 0.119135
TP1: 0.113136
TP2: 0.111422
TP3: 0.108851
Why this setup?
The MTF analysis on the 4h chart confirms a short bias with 52% confidence, providing an accurate read of the market.
The RSI on the 15m is sitting at 44.39, remaining below 50 and leaving room for downward movement before hitting oversold zones.
The ATR on the 1h is set at 0.003324, suggesting that a breakout from the current range could be violent; we are currently at the entry reference of 0.115707.
The first target (TP1) is just 2.2% away, though the main value of the trade is projected towards TP2 at 0.111422.
Do you trust a low-confidence short while the daily trend remains in range, or would you prefer to wait for a confirmed breakout below 0.115350?
#VELVET #Trading #BinanceSquare #CryptoAnalysis #WriteToEarn