The VELVET strategy shared earlier has now successfully captured its profit potential. The chart for $HEMI is indeed signaling a move, as confirmed by the price action. On the one-hour chart, price has moved above the EMA50 and EMA200, signaling a short-term bullish trend. The four-hour RSI is at 61.6, with buyers still holding momentum. The daily chart remains in a downtrend, so this is essentially a countertrend reversal play, not trend-following.
The key is volume confirmation—the ADX reading shows buyers are driving this move. The bullish thesis remains valid as long as any pullback holds above the structural low. At this level, I’d favor scaling in and managing position size rather than committing heavily all at once. Discipline matters more than direction on countertrend trades, so always respect your stop-loss.
🟢 Trade direction: Long
📍 Entry range: 0.0048462 – 0.0048678
🛑 Stop-loss: 0.0046320
🎯 Take-profit 1: 0.0050257
🎯 Take-profit 2: 0.0051382
🎯 Take-profit 3: 0.0053070
Take in the vastness of mountains and seas; observe the market’s finer details.
Trade alongside Uncle Xiong and witness the gains and losses of the world.
#HEMI
Click below to trade 👇
The key is volume confirmation—the ADX reading shows buyers are driving this move. The bullish thesis remains valid as long as any pullback holds above the structural low. At this level, I’d favor scaling in and managing position size rather than committing heavily all at once. Discipline matters more than direction on countertrend trades, so always respect your stop-loss.
🟢 Trade direction: Long
📍 Entry range: 0.0048462 – 0.0048678
🛑 Stop-loss: 0.0046320
🎯 Take-profit 1: 0.0050257
🎯 Take-profit 2: 0.0051382
🎯 Take-profit 3: 0.0053070
Take in the vastness of mountains and seas; observe the market’s finer details.
Trade alongside Uncle Xiong and witness the gains and losses of the world.
#HEMI
Click below to trade 👇