Potential long VETUSDT
Top down analysis:
W: Looking at the weekly we see VET touched a strong support zone and rebounded nicely. Yet we are still in a long-term downtrend on VET so enter trade with caution. (red lines)
D: Zooming in on the daily we can see VET had some consolidation near the support zone and broke out of the channel. When drawing a FIB retracement on the previous leg up we can see that there is confluence between the support zone and the 0.236 level.
H1: This brings me to this trade. Right now on the 1H, we can see a double bottom forming right on the above-mentioned support zone and FIB level.
Entry:
I would first like to either see a new range of consolidation forming and tracking it for a break-out. if this does not happen I will be looking at forming HL & HH. I will update this post when the time comes.
If you appreciate my analysis a like or follow would mean the world to me.
W: Looking at the weekly we see VET touched a strong support zone and rebounded nicely. Yet we are still in a long-term downtrend on VET so enter trade with caution. (red lines)
D: Zooming in on the daily we can see VET had some consolidation near the support zone and broke out of the channel. When drawing a FIB retracement on the previous leg up we can see that there is confluence between the support zone and the 0.236 level.
H1: This brings me to this trade. Right now on the 1H, we can see a double bottom forming right on the above-mentioned support zone and FIB level.
Entry:
I would first like to either see a new range of consolidation forming and tracking it for a break-out. if this does not happen I will be looking at forming HL & HH. I will update this post when the time comes.
If you appreciate my analysis a like or follow would mean the world to me.
Clause de non-responsabilité
Les informations et les publications ne sont pas destinées à être, et ne constituent pas, des conseils ou des recommandations en matière de finance, d'investissement, de trading ou d'autres types de conseils fournis ou approuvés par TradingView. Pour en savoir plus, consultez les Conditions d'utilisation.
Clause de non-responsabilité
Les informations et les publications ne sont pas destinées à être, et ne constituent pas, des conseils ou des recommandations en matière de finance, d'investissement, de trading ou d'autres types de conseils fournis ou approuvés par TradingView. Pour en savoir plus, consultez les Conditions d'utilisation.