FETUSDT is currently demonstrating a bullish divergence on the 1-hour (1H) time frame, indicating a potential reversal in the ongoing trend. In light of this observation, a trading strategy can be considered as follows:
Entry: Contemplate entering a long position through a buy-stop order at 0.6350.
Stop Loss (SL): Implement a risk management stop loss at 0.58 to mitigate potential losses.
Take Profit (TP): Set take-profit levels to achieve a 1:1 and 1:2 risk-reward ratio:
TP1 = 0.69
TP2 = 0.745
This trading strategy aims to capitalize on the anticipated bullish reversal signaled by the observed divergence. Traders are advised to stay vigilant for any shifts in market conditions and adjust their strategy accordingly.
Entry: Contemplate entering a long position through a buy-stop order at 0.6350.
Stop Loss (SL): Implement a risk management stop loss at 0.58 to mitigate potential losses.
Take Profit (TP): Set take-profit levels to achieve a 1:1 and 1:2 risk-reward ratio:
TP1 = 0.69
TP2 = 0.745
This trading strategy aims to capitalize on the anticipated bullish reversal signaled by the observed divergence. Traders are advised to stay vigilant for any shifts in market conditions and adjust their strategy accordingly.
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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.
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.