$FRAX /USDT: Coiled for Breakout, But Beware the Trap .
$FRAX /USDT is currently displaying classic signs of being coiled for a significant breakout. However, savvy traders know that such setups often come with a hidden "trap." This trade plan outlines a long strategy with precise entry, stop loss, and profit targets, while acknowledging the potential for volatility.
Trade Plan:
$FRAX - LONG
Entry: 0.652096 – 0.657486
Stop Loss (SL): 0.638624
Target Profit 1 (TP1): 0.670958
Target Profit 2 (TP2): 0.676347
Target Profit 3 (TP3): 0.687125
Why This Setup?
The 4-hour chart is "armed LONG," indicating bullish sentiment. The 15-minute Relative Strength Index (RSI) at 62 suggests momentum is building within the daily range, supporting an upward move. The key entry zone has been identified between 0.6521 and 0.6575, with TP1 set at 0.671 and a tight stop loss below at 0.6386 to manage risk effectively. The low Average True Range (ATR) further hints that a volatile price movement is imminent.
The Debate: Calm Before the Storm or a Fakeout?
While the indicators point to a long setup, the critical question remains: Is this the calm before a storm of upward movement, or is it a calculated fakeout before a drop to alternative, lower targets? Traders should remain vigilant and adhere strictly to their stop loss, as market conditions can shift rapidly.
Analysis by
@SaleeM_MeYo $FRAX #CPIWatch #USNFPBlowout #frax #USJobsData