HookUSDT remains in a corrective phase, seemingly confined within a descending channel. An immediate resistance zone is on the horizon, closely aligning with a significant trend pivot at 1.0928.
Our projection suggests a touch of this zone before embarking on a descent to complete the correction's remaining leg, aiming for the BULL DEMAND ZONE.
We should tread cautiously in this area. If the price persists in its downward movement, we might witness a test of the Potential Extended Bearish Target.
However, it's paramount to observe the price's behavior upon reaching the immediate resistance. A breakthrough to the upside could signify a trend reversal.
Always remember to trade with discretion and ensure thorough analysis. If you found this analysis helpful, please consider leaving a like. Your support is appreciated!
Our projection suggests a touch of this zone before embarking on a descent to complete the correction's remaining leg, aiming for the BULL DEMAND ZONE.
We should tread cautiously in this area. If the price persists in its downward movement, we might witness a test of the Potential Extended Bearish Target.
However, it's paramount to observe the price's behavior upon reaching the immediate resistance. A breakthrough to the upside could signify a trend reversal.
Always remember to trade with discretion and ensure thorough analysis. If you found this analysis helpful, please consider leaving a like. Your support is appreciated!
Note
The price encountered major support in breaking down through wave A as shown on the main chart, indicating a potential truncation of the drop.A favorable entry strategy involves waiting for the price to revisit and re-test the OB around 0.9842 downward. For spot trading, averaging down from the current position is a viable approach.
Implement a stop loss set below 0.86 to manage risk effectively.
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📢Follow the official links only! Trade smart, stay safe! 🎯
Telegram: t.me/+m0IACMn0ul03OTFk
Forex zone: t.me/+piiPgrNtrulkNDk0
💎 Premium details: t.me/wcsepayment
📩 Promotion/Partnership: t.me/WESLAD
Telegram: t.me/+m0IACMn0ul03OTFk
Forex zone: t.me/+piiPgrNtrulkNDk0
💎 Premium details: t.me/wcsepayment
📩 Promotion/Partnership: t.me/WESLAD
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.