GMT/USDT In the crucial zone, Need to break or Down is coming!💎 GMT has certainly piqued our interest. Currently, GMT is navigating within a descending channel pattern. Historically, GMT has shown a strong rebound upon touching the support trendline of this channel. It then surged upwards, only to face a stern rejection at the resistance level.
💎 Presently, GMT is making another attempt to surpass this local resistance. For potential buyers, it's prudent to await a confirmed breakout above this resistance to avoid potential false breakout.
💎 If GMT successfully breaches this resistance, it could pave the way for an upward trajectory towards the $0.1650 resistance mark. This particular zone is pivotal for GMT; a breakout here could signal a bullish momentum, propelling GMT towards the supply zone.
💎 On the downside, if GMT struggles to break the resistance and faces another rejection, it might retrace back to its key support level.
Gmtsignal
GMT There are 3 targets ahead👌The desired currency code, as you can see, has done the necessary analysis and is now ready for the 3 targets.
If you want to buy a currency code, now is the time to buy.
The analysis you are looking at is the specific method of the servant and the trading strategy is called the servant.
GMTUSDT Short ScenarioMarket overall formed a downtrend, and on a 1h timeframe we can see a correction upwards, but recently market broke its higher lows sequence, went above the point of structure break, we are waiting for market to fall down to 1.44 zone which is where it broke a structure and we forecast it will continue falling down.
Entry: 1.44 (Or now for better R/R but more risk)
Invalidation: 1.65535
Target: 0.92347
GMT GMT GMTGMT LONG POSITION
Shark Pattern, Bounce areas are ( Use Fib retrace to measure D = C to b 1.618 to 2.24 of fib retrace)
Find where the imbalance or find some OB at the possible bouncing areas.
If you find something set an OB and wait till it bounce at that Price of Interest of yours.
Always use stop loss
Risk management
Risk only when youre confident
Don't counter trade, but if youre a pro trader well you can.
Dont chase the market price
Let the market chase your interest price.
Remember
Risk management
dont trade with your emotions
smile :P
-MercilessDolphin
GMT LONG SETUPMarket just finished 1-5 Elliot wave and started an ABC correction downwards, we are forecasting C (Last wave of a correction) should be around 1.43 zone, because going up market formed high volume institutional candle zone and also it is at 61.8 fib zone (reversal zone)
If our forecast is correct we are in M pattern, and after that should see a movement down.
Entry: 1.43647
Invalidation: 0.97648
Target: 2.95920
R/R Ratio: 3.13