FTM has been following this trend line for quite some now. This trade is based on the idea that FTM will once again bounce and make a bullish move. Since FTM has made some very strong returns as of late, this trade is a riskier one since FTM could sell-off at some point.
Before entering this trade wait for the price to close above the Entry line. Higher time frames yield a higher predictive power.
On the chart I’ve marked two potential areas of resistance, R1 and R2. These areas are based on recent swing highs. Do your own due diligence.
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