This chart presents a long position setup on FARTCOINUSDT.P, aiming for a rebound off a confluence of support levels.
Trade Details:
Position: Long
Entry Price: $1.1651
Stop Loss: $1.1081
Take Profit: $1.4668
Risk-to-Reward (RRR): ~5.32
Timeframe: Likely 4H or 1H
Setup Rationale:
Entry is placed at the intersection of a horizontal support and a rising trendline — strong confluence zone.
A long lower wick hints at rejection of lower prices (possible seller exhaustion).
Very favorable RRR shows high potential reward with relatively low risk.
Target aligns with prior structure level or supply zone.
Conclusion:
This is a technical bounce trade from a rising trendline and support. Price action confirmation (e.g., bullish engulfing or strong bounce candle) would strengthen the setup further.
Trade Details:
Position: Long
Entry Price: $1.1651
Stop Loss: $1.1081
Take Profit: $1.4668
Risk-to-Reward (RRR): ~5.32
Timeframe: Likely 4H or 1H
Setup Rationale:
Entry is placed at the intersection of a horizontal support and a rising trendline — strong confluence zone.
A long lower wick hints at rejection of lower prices (possible seller exhaustion).
Very favorable RRR shows high potential reward with relatively low risk.
Target aligns with prior structure level or supply zone.
Conclusion:
This is a technical bounce trade from a rising trendline and support. Price action confirmation (e.g., bullish engulfing or strong bounce candle) would strengthen the setup further.
Trade active
Move Stop LOSS to Entry. Free of Risk.
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.