Get started

Ftmtrading

📉📈 FTM Forming A Bearish Wedge 🔄💼Trade Overview: FTM is forming a bearish wedge pattern, suggesting a potential downward move, particularly with the anticipation of bearish news this week. Trade Strategy: Entry: Consider laddering into spot positions between $0.55 to $0.45, allocating 50% of the position within this zone. Confirmation: Look for price to close above the 200-day MA on the daily timeframe within this zone, indicating bullish momentum and flipping the zone into support. Take Profit: Set a take profit target at $0.80, with the next area of resistance at $1. 📊🔍 Monitor FTM's price movement closely for entry confirmation and adjust strategy accordingly! #FTMTrading #CryptoAnalysis 🌐🔒
Long
by Richtv_official
FTM → Going to $0.42!? Maximize Profits With This Simple Chart.FTM has shown strong support on the 200EMA and is currently bouncing for the second time since falling out of the bull channel. It appears we have a clear runway to the Weekly Resistance at $0.42. How do we trade this? All of the data points indicate that we should long with the exception of the RSI which shows the price as fairly overbought. However, Price Action is King and I do not prioritize indicators over what the price action is telling me. We shouldn't ignore the RSI completely, but I do not believe that means the price is going to reverse. It likely means we'll have a minor pullback or the RSI will simply keep going up as the price action goes up. At worst, be ready for a minor pullback. If we see a strong bear candle closing on or near its low, that's when we change our perception of the market conditions. We've fallen out of the bull channel, but we're still above the 200EMA and showing strong support. We should remain bullish until we start to get lower lows and strong bear bars closing on or near their lows below the 200EMA. Trade Idea Long Entry: $0.31 Stop Loss: $0.275 Take Profit: $0.38 Risk/Reward Ratio: 1:2 Key Takeaways 1. Fell out of the Bull Channel. 2. Price Bounced on 200EMA twice since bear breakout. 3. Strong Bull Bounce to $0.32. 4. RSI around 60.00, May be a pullback to 30EMA. 5. Look for bounce at 30EMA. Close Gap to Weekly 200EMA. You are solely responsible for your trades, trade at your own risk! If you found this analysis helpful, click the Boost button and let us know what you think in the comment section below!
Long
by TraderEngineering