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DEEPUSDT SPOT
Short
Updated

DEEP Key Levels - Weekend Trade Setups

351
DEEP has been consolidating in a 6-day trading range and as we move into the weekend, lets look at the setups.

Short Trade Setup

  • Resistance Zone: The 0.786 Fibonacci retracement aligns with the POC of the 6-day range at $0.304, making it an ideal short entry

  • Target: The 0.618 Fibonacci retracement at $0.208, where liquidity has built up below

  • Risk-to-Reward (R:R): This short offers an impressive 10:1 R:R if the setup plays out


Long Trade Setup

  • Support Zone: The 0.618 Fibonacci retracement at $0.208 also serves as a key support level

  • Anchored VWAP from the recent highs provides additional support near this level

  • Stop Loss: Stop just below $0.195

  • Take Profit: TP at round 0.24
Trade closed: target reached
No long positions were opened at 0.618 fib, instead, we hit the 0.786 fib with a great reaction
SiDec
BTCChart PatternsdeepgoldenpocketgoldenratioTechnical IndicatorskeylevelslongsetupshortsetupTrend Analysis

Disclaimer

The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
BTCChart PatternsdeepgoldenpocketgoldenratioTechnical IndicatorskeylevelslongsetupshortsetupTrend Analysis
SiDec

Disclaimer

The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.