📈 BONK Long Setup (5m timeframe, OKX Perp Swap)
I entered a long position after spotting momentum recovery following a prolonged downtrend. The trade idea is based on:
🔹 Entry: Around 0.000023024 (support zone & EMA retest).
🔹 Stop Loss: Below 0.000022152, protecting against a breakdown of the recent support structure.
🔹 Target (TP): Around 0.000024450 (previous resistance & liquidity zone).
Reasons for Entry:
✅ Trend Shift – Price broke above short-term EMAs after extended downside pressure.
✅ Bullish Divergence – Oscillator shows higher lows while price made lower lows (potential reversal signal).
✅ Volume/Momentum – Momentum indicators in the lower panel are recovering from oversold levels, suggesting buyer strength.
✅ Risk-Reward Ratio – Approximately 1:2.5, making this setup favorable for a scalp/swing attempt.
I entered a long position after spotting momentum recovery following a prolonged downtrend. The trade idea is based on:
🔹 Entry: Around 0.000023024 (support zone & EMA retest).
🔹 Stop Loss: Below 0.000022152, protecting against a breakdown of the recent support structure.
🔹 Target (TP): Around 0.000024450 (previous resistance & liquidity zone).
Reasons for Entry:
✅ Trend Shift – Price broke above short-term EMAs after extended downside pressure.
✅ Bullish Divergence – Oscillator shows higher lows while price made lower lows (potential reversal signal).
✅ Volume/Momentum – Momentum indicators in the lower panel are recovering from oversold levels, suggesting buyer strength.
✅ Risk-Reward Ratio – Approximately 1:2.5, making this setup favorable for a scalp/swing attempt.
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The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.