FTM idea sharing
Updated
FTM has a double-top pattern in the four-hour chart, and the price rebounded after reaching the support near 0.3161, and broke through the downtrend line.
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After breaking through the downtrend line, FTM has a chance to appear in a bull flag pattern, and the current price is near the downtrend line.
If the four-hour closing price is higher than the downward trend line, you can enter the market with long orders:
Stop loss: 0.3954
Take profit: 0.5329, 0.5631, 0.5990
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After breaking through the downtrend line, FTM has a chance to appear in a bull flag pattern, and the current price is near the downtrend line.
If the four-hour closing price is higher than the downward trend line, you can enter the market with long orders:
Stop loss: 0.3954
Take profit: 0.5329, 0.5631, 0.5990
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Trade active
After FTM broke through the downward trend line, it appeared a top pattern, the price fell back and returned below the trend line, the lowest reached 0.4268, FTM stopped falling here and broke through the previous high point, reaching 0.4982. After that, FTM did not rise smoothly. Instead, it rose after consolidating around 0.45 for a period of time.
At present, FTM has broken through 0.5049, and there are still targets above 0.5329, 0.5340, 0.5631 and 0.5990.
Note
FTM has reached the targets of 0.5329 and 0.5340.A larger drop occurred earlier today:
After the price fell below 0.4869, it came to the trend line and EMA200 support, pay attention to the position of the closing price.
If it falls below the support trend line, focus on the lower support at 0.4536.
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