FTM Long Spot Trade (Trading at Support)
Market Context:
FTM is currently trading at a support level, with the price oversold on the 4-hour timeframe. This setup presents a favorable opportunity for a long trade, expecting a bounce from this area.
Trade Setup:
Entry: Around $0.66
Take Profit Targets:
First target: $0.76 - $0.78
Second target: $0.82 - $0.84
Stop Loss: Just below $0.645
This setup takes advantage of oversold conditions and support alignment, with a strong risk-to-reward profile.
FTM is currently trading at a support level, with the price oversold on the 4-hour timeframe. This setup presents a favorable opportunity for a long trade, expecting a bounce from this area.
Trade Setup:
Entry: Around $0.66
Take Profit Targets:
First target: $0.76 - $0.78
Second target: $0.82 - $0.84
Stop Loss: Just below $0.645
This setup takes advantage of oversold conditions and support alignment, with a strong risk-to-reward profile.
Related publications
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.