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FTM / UST

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FTMUST trade ideas

FTM → Fantom Aims for Resistance Zone! Should We Short Here?FTM came into contact with the Daily 200EMA support after three pushes down, a pullback from the $0.57 high. The price bounced off of the 200EMA and is in now what appears to be a second leg up toward the high. Should we prepare to enter a short? How do we trade this? 🤔 We need this bull pattern to play out and give us a reversal signal before we entertain a short. I believe Bitcoin has some more time in the coming days and even weeks to potentially top out and reverse hard to the downside. That gives the altcoin market some time to either go sideways or find some momentum toward the upside. ETH is showing us that momentum now. Wait for another push or two toward the $0.57 high, wait for a double top reversal signal, then enter a short position with a stop loss placed above the Resistance Zone. An entry around $0.51 gives us enough room for a 1:2 Risk/Reward trade since the second take profit will be in the Daily 200EMA support area at $0.35. Close out the first half of your position at 1:1 Risk/Reward and move the stop loss up to the entry price, this locks in profits and allows the second half of the trade to be executed without the fear of loss. This, being a counter-trend trade in a bull market, comes with a lower probability of profit, which is why half of our position ought to be a scalp. The conditions listed must be met for this trade to work. I will also add that longing here is not recommended with the crypto market burning as hot as it is for as long as it has been. We're due for a hard pullback of at least 30-50% before we see new all-time highs for Bitcoin. I stand firm on that warning, given the distance we've traveled since the $15,000 low; the probability falls the longer we march upward. 💡 Trade Idea 💡 Short Entry: $0.51 🟥 Stop Loss: $0.59 ✅ Take Profit #1: $0.43 ✅ Take Profit #2: $0.35 ⚖️ Risk/Reward Ratio: 1:2 🔑 Key Takeaways 🔑 1. Found Support at the Daily 200EMA after a three-legged pullback from the $0.57 high 2. Two legs up in a new bull pattern 3. Looking for a third leg up followed by a double-top reversal signal 4. RSI at 57.00 and at the moving average. Room to move up before a fall. 5. Wait for these conditions to be met then aim for a 1:2 Risk/Reward short. 💰 Trading Tip 💰 It's reasonable to take half profits at the first resistance target in a long trade, or the first support target in a short trade. Using a 1:1 Risk/Reward Ratio for your first target, you can move your stop loss up to your entry price, locking in profits. This allows you to watch the rest of the trade execute without worry of losing money. This helps improve trading psychology and the equity in your account. ⚠️ Risk Warning! ⚠️ Past performance is not necessarily indicative of future results. You are solely responsible for your trades. Trade at your own risk! Like 👍 and Follow to learn more about: 1. Reading Price Action 2. Chart Analysis 3. Trade Management 4. Trading Psychology
Short
by TraderEngineering
FTM/USDT 1DInterval ChartHello everyone, I invite you to review the FTM chart on a one-day interval. As we can see, the price has broken the downward trend line, above which the price movement is currently maintained. When we look at the EMA Cross 10 and 30 indicator, we can see that the red EMA Cross 10 line has crossed the green EMA Cross 30 line from below, which indicates a local return to the uptrend. Looking at the current price increases, it is worth moving on to determining the resistance that we should take into account. And here there is a strong resistance zone from $0.56 to $0.66, only when the price overcomes it and then tests positively should we see an upward movement to the level of approximately $0.97. In the second direction, you can see how the price stays above the newly formed support at $0.42, then you can see support at $0.32, and then you can see how $0.25, which previously maintained a move in one and the other direction. The RSI indicator shows an upward movement with room for the price to go a little higher, but caution should be exercised because the STOCH indicator reflects at the upper limit, which may limit the growth.
by cryptodailyuk
FTMUSDT Elliott Waves (Local Setup)Hello friends. Please support my work by clicking the LIKE button👍(If you liked). Also i will appreciate for ur activity. Thank you! Everything on the chart. Entry: Market and lower Targets: 0.4 - 0.42 - 0.44 after first target reached move ur stop in breakeven Stop: ~0.31 (depending of ur risk). RR: 1 to 2 ALWAYS follow ur RM. risk is justified Good luck everyone! Follow me on TRADINGView, if you don't want to miss my next analysis or signals. It's not financial advice. Dont Forget, always make your own research before to trade my ideas! Open to any questions and suggestions
Long
by trytofeelpositive