Long
FTM/USDT: BREAKING OUT OF THE FALLING WEDGE PATTERN.
Welcome members, to this UPDATE ON FTM.
If you are viewing my post for the first time then do not forget to like and follow. I share updates on the crypto market including margin trading, futures, spot, and scalping. All ideas are my biased opinion and I invest in my own risk. I don't force anyone to buy or sell, I simply share my ideas absolutely for free and it is your sole decision whether to trade on it or use it to understand the market.
Let's get back to the chart.
FTM/USDT is breaking above the falling wedge pattern. Ever since FTM got rejected at $2.07, it has been dipping down badly. For almost 7 days FTM is under the falling wedge pattern and currently, FTM is breaking out of this falling wedge pattern. Technically, this looks good but let's not FOMO on this one and wait for the confirmation. I am expecting a retest and then a rally.
We can enter this trade once we get a confirmation between $1.08 to $1.109. The SL will be below $1.02 and the target will be between 10% to 15%. This chart will get invalidated if FTM gets rejected from the upper trendline and enters back into the FW pattern.
Note: This is not financial advice. This trade setup is based on my T.A and I am risking my own money on this trade. I am reliable for my own losses and profits. So, trade as per your preference.
I will cover more on this in the coming days until then stay safe and trade well.
Thank you.
If you are viewing my post for the first time then do not forget to like and follow. I share updates on the crypto market including margin trading, futures, spot, and scalping. All ideas are my biased opinion and I invest in my own risk. I don't force anyone to buy or sell, I simply share my ideas absolutely for free and it is your sole decision whether to trade on it or use it to understand the market.
Let's get back to the chart.
FTM/USDT is breaking above the falling wedge pattern. Ever since FTM got rejected at $2.07, it has been dipping down badly. For almost 7 days FTM is under the falling wedge pattern and currently, FTM is breaking out of this falling wedge pattern. Technically, this looks good but let's not FOMO on this one and wait for the confirmation. I am expecting a retest and then a rally.
We can enter this trade once we get a confirmation between $1.08 to $1.109. The SL will be below $1.02 and the target will be between 10% to 15%. This chart will get invalidated if FTM gets rejected from the upper trendline and enters back into the FW pattern.
Note: This is not financial advice. This trade setup is based on my T.A and I am risking my own money on this trade. I am reliable for my own losses and profits. So, trade as per your preference.
I will cover more on this in the coming days until then stay safe and trade well.
Thank you.
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.
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.