ON is breaking out of a crucial market structure, fueled by a potent combination of technical signals. The current zone is a make-or-break level that could propel the price upwards.
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$ON LONG ๐
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๐ Entry Range: $0.262837 โ $0.263363
๐ Stop Loss: $0.255207 (-3.0%)
๐ฏ TP1: $0.267046 (+1.5%)
๐ TP2: $0.276255 (+5.0%)
โก R/R Ratio: 1:1.7
๐ Confidence: 94%
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This setup is particularly compelling due to the convergence of CHoCH, CVD, FVG, OB, and a liquidity sweep, all pointing towards a significant upside potential. The overlap of OB and FVG creates a high-conviction area, further strengthened by the POI confluence. The structure suggests a robust foundation for a potential rally.
With a 3.0% stop loss, the risk is moderately managed, suitable for a 2-3x leverage strategy that balances potential returns with acceptable risk exposure.
Taking partial profit at the first target could be a prudent move, allowing traders to lock in some gains while letting the remainder of the position ride out the potential for further upside.
Not financial advice โ always manage your own risk ๐
$ON #ONUSDT #SMC #TradingSignals #Write2Earn