๐ FET/USDT Urgent Update ๐
FET/USDT Chart Analysis - 1D ๐
$FET is showing strong bullish momentum, currently in an uptrend and forming higher highs (HHs) and higher lows (HLs). It's trading above the 200EMA, indicating long-term bullishness. After a recent correction, the price found support above the 200EMA and has now broken out of the trendline.
Step-by-Step Trade Plan ๐
1. Trend Confirmation: .Ensure the price is maintaining higher highs (HHs) and higher lows (HLs) above the 200EMA. ๐
2. Correction and Support:
Confirm the recent correction has held above the 200EMA, solidifying it as a support level. ๐
3. Breakout Observation:
Identify the breakout from the trendline, indicating potential continuation of the bullish momentum. ๐
4. Entry Point:
Enter a long position once the price breaks the $2.70 level. This level acts as a confirmation of the breakout and momentum continuation. ๐ช
-Entry: $2.70 ๐ฅ
5.Target Level:
Set the target at $4.20, where the price is expected to test the previous swing high. ๐ฏ
Target: $4.20 ๐ฏ
6. Stop-Loss (SL):
Protect your position by placing a stop-loss at $1.82 to manage risk in case the trend reverses. ๐
Stop-Loss: $1.82 ๐ซ
Summary ๐
Entry: $2.70 ๐ฅ
Target: $4.20 ๐ฏ
Stop-Loss: $1.82 ๐ซ
Keep a close watch on the price action and follow this step-by-step plan to maximize your trading potential with $FET. Happy trading! ๐๐ผ
