FTM Long - Possible new impulse upside
FTM in a strong bounce after painting a bearish divergence on the 4H.
Good case for 5 waves complete and a subsequent ABC also just finished.
Current price seems at an inflection point. If we can flip 0.2790 into support and invalidate our M, watch the B high for more solid confirmation of some decent upside. Look to scale in on the wave 2 pullback and ride the potential wave 3
Bear in mind the fub around FTM with the multichain fud although not directly effecting FTM could still dump to 0.22
Conversely recent fud should have built up some short liquidity for market makers to squeeze
Good case for 5 waves complete and a subsequent ABC also just finished.
Current price seems at an inflection point. If we can flip 0.2790 into support and invalidate our M, watch the B high for more solid confirmation of some decent upside. Look to scale in on the wave 2 pullback and ride the potential wave 3
Bear in mind the fub around FTM with the multichain fud although not directly effecting FTM could still dump to 0.22
Conversely recent fud should have built up some short liquidity for market makers to squeeze
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.