Howdy everyone!
This is a follow-up to my FET short trade idea.
That short trade idea had two take profit areas within it, 1 of which we have already hit at approx. 1.42-1.20. The second take profit zone was just below at approx .90-.63.
I think that we might be finding support in this current area, and the second short trade take profit area may not get hit this time around. So this idea is based upon a long position in between the two take profit zones from that idea.
We've been as low as 1.06, and we are currently sitting at 1.18. I am suggesting starting your long positions in this current trading range.
My suggested take profits from this current trading range are: approx: 1.98, 2.50, and 3.00. We could at any time between now and hitting any of these targets turn around and hit the lower short trade target of .90-.63, so that is why I am giving at least 3 take profit points.
My current next big target if we make a new high in the markets is 3.94ish.
Anyway, I do appreciate your collaboration!
This is a follow-up to my FET short trade idea.
That short trade idea had two take profit areas within it, 1 of which we have already hit at approx. 1.42-1.20. The second take profit zone was just below at approx .90-.63.
I think that we might be finding support in this current area, and the second short trade take profit area may not get hit this time around. So this idea is based upon a long position in between the two take profit zones from that idea.
We've been as low as 1.06, and we are currently sitting at 1.18. I am suggesting starting your long positions in this current trading range.
My suggested take profits from this current trading range are: approx: 1.98, 2.50, and 3.00. We could at any time between now and hitting any of these targets turn around and hit the lower short trade target of .90-.63, so that is why I am giving at least 3 take profit points.
My current next big target if we make a new high in the markets is 3.94ish.
Anyway, I do appreciate your collaboration!
Note
Correction to my current final big picture target for FET: that is 4.94, not 3.94.Trade active
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Note
I still think that it is very possible that we can attack the 2.00 area, however. I didn't take everything off, just a small profit chunk just in case we get rejected. Just to be clear for anyone that is following.Trade active
Note
I still have half of the long position that I took from below open, just to be clear.Trade active
Trade active
OK - the profit taking looks like it was a good idea now, thankfully. Per above, pay attention to the 1.05-1.10, and 1.10-1.24 levels. Let's see if we can get a retrace there and if it holds. Otherwise .90-.63 will be the ultimate long building territory for the remainder of this bull market IMO.Trade active
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Whatever the case may be, I think that we are very close to breaching into the second and last half of this bull run. The price action in this current area looks very similar to the last bull run for FET after it had done its mid cycle correction. So, remain vigilant here...we will be seeing a nice pay off pretty soon most likely.Trade active
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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.