FET – Falling Wedge breaks Out to create Bull Flag
- Please Read my previous FET idea for more context.
- For now, it looks as if FET broke out of the Falling Wedge, and it is forming a Bull Flag.
- Falling Wedge target: 0.422 USD
- Bull Flag Target: 0.31 USD
- Both targets have confluence with daily resistance level and can serve as TPs.
- Final confirmation is when FET breaks above 0.2544 USD. You don’t have to wait for 0.25 to take the trade.
Trade Idea No.1:
- Entry: 0.235 USD (approximately, break out of the Bull Flag)/
- SL: 0.2040 USD
- Target: 0.4223 USD
- TP: 0.31, 0.4223 (leave some on the table)
- R: R: 1:6
Trade Idea No. 2:
- Entry: 0.254
- SL: 0.2238 (below the Flag’s resistance line)
- Target: 0.41
- TP: 0.31, 0.4223 (leave some on the table)
- R: R: 1:5.94
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