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Fantombuy

FTM → Fantom Fall to $0.35!? Then to $1.00? Let's Answer.Since my April 11th update, FTM has fallen into a pullback, as expected. We found resistance at $1.25, created a micro double-top, and then pulled back in two strong legs—truly three in total. Should we be bearish or bullish on Fantom? How do we trade this?  🤔 FTM predictably printed a double-top after three strong pushes up into the immediate resistance zone of $0.97 to $1.25. That reversal pattern played out into a three-legged pullback, leaving us near Push #1 support at around $0.40. I think we can expect to continue testing this support area for a while. However, I do not believe we will break and hold below $0.40. I would not enter a long position just yet unless you're fading. What we need now is two or three tests of the Push #1 support area between $0.35 and $0.40, forming a double-bottom or reverse head and shoulders pattern. A good strong bull signal candle followed by a confirmation candle is the signal we need to enter a long position, taking half profits at 1:1 Risk/Reward, moving the stop loss up to the entry price, then swinging the latter half of the position to 1:2 Risk/Reward. We also need to watch Bitcoin's sentiment as the price action plays out. I expect Bitcoin will fall into a two-legged pullback to around $40,000-$45,000, which should take the alt market down with it, either keeping it in a trading range or bringing it to lower lows. Until Bitcoin's sentiment shows a clear bull signal after a likely pullback, it's one more indicator we should allow to play out before getting long in FTM. A final point of data is the RSI low and below the moving average of around 39.00, which could remain in this area for some time. This indicates we should be looking for long entries, but should wait for the price action to guide us. 💡  Trade Idea  💡 Long Entry: $0.45 🟥 Stop Loss: $0.285 ✅ Take Profit #1: $0.64 ✅ Take Profit #2: $0.82 ⚖️ Risk/Reward Ratio: 1:2 🔑  Key Takeaways  🔑 1. Three legs up into a resistance zone after a breakout 2. Micro Double-top reversal pattern 3. Three-legged pullback to Push #1 Support 4. Wait for a double-bottom followed by a strong signal and confirmation candles 5. RSI at 39.00 and below the moving average. Supports waiting for a long entry. 💰  Trading Tip  💰 It's reasonable to take half profits at the first resistance target in a long trade or the first support target in a short trade. Using a 1:1 Risk/Reward Ratio for your first target, you can move your stop loss up to your entry price, locking in profits. This allows you to watch the rest of the trade execute without worrying about losing money, which helps improve trading psychology and the equity in your account. ⚠️  Risk Warning!  ⚠️ Past performance is not necessarily indicative of future results. You are solely responsible for your trades. Trade at your own risk! Like 👍 and Follow to learn more about: 1. Reading Price Action 2. Chart Analysis 3. Trade Management 4. Trading Psychology
Long
by TraderEngineering
1
FTM → Fantom Falls to 200EMA! Long back to $0.53? Let's Answer!FTM marched to the upside with three pushes up in a bull channel touching $0.565, followed by a pullback with three pushes down and strong bull support. Is it time to long? How do we trade this? 🤔 A long entry is nearly justified. Here's what we have in favor of the long bias; Three pushes up in a bull channel ending at $0.565, followed by three pushes down in a micro-bear channel with strong bull signal bars, and we have a good follow-through bars leading up to the price action being just above the Daily 30EMA. The Daily 200EMA is showing some strong support as well. What we need is a break of the Daily 30EMA to justify to our long. You could argue a long is justified here simply by the data we already have, and I wouldn't argue against you; I would just say that Daily 30EMA is in the way, so this is a lower probability trade, but also less initial risk because your stop loss is closer. I believe we need to be conservative longing at this stage in the crypto market, which is why I only advocate for a 1:1 scalp at a lower-than-maximum position size allowed for your trading strategy. I think Bitcoin and Ethereum have a larger pullback on the horizon, but do believe the market will come up a bit before it goes down. 💡 Trade Idea 💡 Long Entry: $0.403 🟥 Stop Loss: $0.323 ✅ Take Profit: $0.483 ⚖️ Risk/Reward Ratio: 1:1 🔑 Key Takeaways 🔑 1. Three pushes up in a bull channel 2. Micro Bear Channel forms with three pushes down. 3. Strong bull signal bars at Daily 200EMA 4. Suggested to wait for break of Daily 30EMA 5. RSI at 48.00 and above the Moving Average, supports long bias. 💰 Trading Tip 💰 The longer a trend continues after 3 legs, the probability of that trend continuing lessens. Because of this decreased probability, we ought to reduce our risk when entering trades. ⚠️ Risk Warning! ⚠️ Past performance is not necessarily indicative of future results. You are solely responsible for your trades. Trade at your own risk! Like 👍 and Follow to learn more about: 1. Reading Price Action 2. Chart Analysis 3. Trade Management 4. Trading Psychology
Long
by TraderEngineering
33
FTM → Fantom One More Leg Up to $0.53!? Lets Setup The Trade.Fantom has had 2 clear legs up in this Daily chart bull run. You could argue three if this current high *is* in fact the high, making it the third leg. My last analysis did not play out with the reversal at $0.38! Does that mean we should we be long here? How do we trade this? 🤔 The answer is yes, but only in the near-term! If we are 2 or even 3 legs into the trend, that means our probability of profit longing is getting weaker to the point of where we need to consider shorts or at the very least, that a trading range is coming. Right now we have a gap down to the 30EMA, we should wait until the price reaches at least that area with some bull signals and confirmation before entering any longs. This late in the game, consider scalping with 1:1 Risk/Reward and a relatively small position size since our probability in this direction is weakening. Set the protective stop below the 30EMA and grab at least 1:1 Risk/Reward and get out. We also need to keep a close eye on Bitcoin completing its measured move to $46,000, a key level that could spell the end of the bull trend! 💡 Trade Idea 💡 Long Entry: $0.415 🟥 Stop Loss: $0.335 ✅ Take Profit: $0.475 ⚖️ Risk/Reward Ratio: 1:2 🔑 Key Takeaways 🔑 1. Bull Channel, Bias to Long. 2. Two Clear Pushes Up, Third to Major Resistance? 3. Gap from 30EMA Support, Wait to Long. 4. RSI at 70.00 and above Moving Average, Short-Term long, Long-Term Short. 5. Watch Bitcoin to complete Measured Move to $46,000. ⚠️ Risk Warning! ⚠️ Past performance is not necessarily indicative of future results. You are solely responsible for your trades. Trade at your own risk! Like 👍 and comment if you found this analysis useful!
Long
by TraderEngineering
FTM → Fantom Blasts to $0.43 Weekly 200EMA! Will We Reverse!?Fantom had an excellent breakout of the previous resistance zones at $0.34 and $0.37 per my previous analysis. If you longed the suggested trade, you achieved a 1:3 Risk/Reward Ratio! What are the next moves now that we've hit the Weekly 200EMA? How do we trade this? 🤔 Fantom is red hot to the upside making contact with the Weekly 200EMA, an expected resistance area. The Weekly candle closes in 1 day and 1 Hour, we need to see where the candle closes and what the next Daily candles show us. The RSI is at 70.00, most Crypto tokens are running hot and have hit some major resistance levels with their RSIs high as well. That includes Bitcoin, Ethereum, Cardano, the list goes on. I think we're in for a decent retrace to let the market cool off. This could be the first bull leg up in the next bull run, signaling that the macro trend on the market is committing to the upside. However, I believe Bitcoin needs to take one more dip to $25,000 before new all-time highs, and the rest of the Crypto market will likely be dragged down with it. Look for a pull back to the Weekly 30EMA and a strong bull signal and confirmation of Support. If we see a good Weekly candle closing on or near its high after a signal, a long position is reasonable. Now this long could be played many ways between the Daily and Weekly timeframe, I'm suggesting the following as a conservative measure and assuming the Alt market doesn't see previous all-time highs. Long the $0.325 area, set a stop loss below the (so far) reliable $0.165 Weekly Support, and a few Take Profit areas. Take 1:1 Risk/Reward with half of your position at $0.50 and move your stop up to the entry price, then 1:3 R/R at $0.85 with half of your remaining position, then swing the remainder to 1:7 R/R. A reasonable area at $1.55 (2021 Left and Right Shoulders), but I wouldn't argue against letting it ride longer if the conditions are correct. It's too far out to speculate on the price action. This is a multi-month trade that could go into 2025. More analysis will be coming for the lower timeframes! 💡 Trade Idea 💡 Long Entry: $0.325 🟥 Stop Loss: $0.150 ✅ Take Profit #1: $0.500 ✅ Take Profit #2: $0.850 ✅ Take Profit #3: $1.55 ⚖️ Risk/Reward Ratio: 1:7 🔑 Key Takeaways 🔑 1. Bullish Since Weekly Support - October 2023, Bias to Long. 2. Currently Touching Weekly 200EMA Resistance. Wait for Candle Close. 3. Wait for Weekly Candle to Close. If below 200EMA, expect Pullback. 4. RSI around 70.00, far above Moving Average. Supports Pullback. 5. Look for 1:3 Risk/Reward Opportunity. Swing Partial Position. ⚠️ Risk Warning! ⚠️ Past performance is not necessarily indicative of future results. You are solely responsible for your trades. Trade at your own risk! Like 👍 and comment if you found this analysis useful!
Long
by TraderEngineering
FTM → Blast Off to $0.40!? Or Rejected to $0.20? Let's Answer.Fantom continues its bullish blast bouncing hard off of the 4HR 200EMA ribbon and then the 30EMA. We're now closing in on Resistance Zone #1 and need to know what the next trade move will be. How do we trade this? 🤔 We're too close to the resistance zone to long and we don't yet have any indication that the price will reverse. Best to wait on the sidelines until 1 of 2 outcomes unfold: 1. Rejection at Resistance #1: Strong bear signal and confirmation bars closing on or near their lows. Short scalp a 1:1 with half of your position then swing the to 1:2. You could also swing until you see a reversal bar to the upside. 2. Breakout of Resistance #1: Wait for Resistance #1 to be broken and tested as support. Long that support and sell half your position at a 1:1 Risk/Reward Ratio then the rest at 1:3 or if the price fails at Resistance #2. 💡 Trade Ideas 💡 Long Entry: $0.355 🟥 Stop Loss: $0.345 ✅ Take Profit #1: $0.365 ✅ Take Profit #2: $0.385 ⚖️ Risk/Reward Ratio: 1:3 Short Entry: $0.335 🟥 Stop Loss: $0.344 ✅ Take Profit #1: $0.326 ✅ Take Profit #2: $0.317 ⚖️ Risk/Reward Ratio: 1:2 🔑 Key Takeaways 🔑 1. Bullish Macro Trend, Bias to Long! 2. Strong Support at 200EMA, Bias to Long. 3. Coming up on Resistance Zone #1, Wait to Enter. 4. If Rejected at Resistance #1, Short Scalp. 5. If Break Resistance #1, Long Support. 6. RSI at 63.00 and above Moving Average, Bias to Long. ⚠️ Risk Warning! ⚠️ Past performance is not necessarily indicative of future results. You are solely responsible for your trades. Trade at your own risk! Like 👍 and comment if you found this analysis useful!
Long
by TraderEngineering
2
FTM → A High Profit Opportunity! This Analysis Breaks it Down.Fantom is marching forward in a bull channel, breaking previous resistance and setting its sights on $0.34. It looks like we have a clear shot to the next resistance level, but is it safe to long now? How do we trade this? The bulls have several data points on their side; a bull channel, breaking of previous resistance, successfully testing that resistance as support, but is that enough to enter a long? Not yet! What we need now is a bull confirmation candle on this second support test. The last hourly candle just closed above support a few minutes ago, we need to hold this price and close a strong bull candle to justify a long. If FTM delivers, set a protective stop below the "New Support" line and set a take profit at a 1:2 Risk/Reward ratio. The next resistance level on this timeframe is just below $0.35, so it's reasonable to take your profits before then. Also, keep an eye on Bitcoin as a leading market indicator, it's into new high territory for this bull run and we need to be vigilant about reversal candles appearing. If one does, be prepared to change your bias to short! Trade Idea Long Entry : $0.325 Stop Loss: $0.319 Take Profit: $0.340 Risk/Reward Ratio: 1:2 Key Takeaways 1. Bull Channel, Bias to Long! 2. Broke out of Previous Resistance, Now Testing Support. 3. RSI at 56.00 and below Moving Average, Bias to Short. 4. Wait for a Bull Confirmation Candle Above Support. 5. Long 1:2 Risk/Reward, Stop Loss below New Support. You are solely responsible for your trades, trade at your own risk! If you found this analysis helpful, click the Boost button and let us know what you think in the comment section below!
Long
by TraderEngineering
6
FTM to $0.40? This Trade Separates the Novice From The Pro!FTM has fallen out of the bull channel and is pushing aggressively toward the downside. One might think, "We're going back to $0.20!". Not so fast! The 200EMA acted as strong support on November 9th and it has a good possibility of repeating history. How do we trade this? We may have fallen out of the bull channel but we're still seeing higher highs and higher lows, so we should remain bullish. Before entering into long, wait for a bull signal and confirmation bar as evidence that we're still going up. A bull signal bar will have a long tail and close near its high, a confirmation bar will follow the signal bar, be of a size similar to the signal bar, and close on or near its high. The RSI is also below 30, which is a weak indicator on its own, but supports the other data points in this analysis. Bitcoin also acts as a leading indicator and as shown in my BTC 4HTR analysis, may fall to its 200EMA at $35,000 and hold FTMs price down. This is why we need to wait for confirmation before entering the long. Key Points 1. Fell out of the Bull Channel. 2. Current Price at 200EMA Support. 3. Wait for a bull signal and confirmation bar. 4. RSI Below 30. Reversal to the upside is probable. 5. Use Caution, Bitcoin could fall further. You are solely responsible for your trades, trade at your own risk! Let us know what you think in the comment section below!
Long
by TraderEngineering
FTM Time to Buy!? Or Will The Price Fall Back to $0.20?FTM is in a strong bull channel eyeing a target of $0.42 at the Weekly 200EMA! But with Bitcoin potentially pulling back, will it hinder FTM's chances of reaching the target? How do we trade this? The most important aspect of this moment is that FTM is in a bull channel, which means the probability of profit is greater when longing. There are no definitive reversal patterns yet, so we should be looking for long entries. Bitcoin may be signaling a minor pullback as shown in my recent analysis, and if that pans out, it may hinder FTM's ability to climb in price. This will likely bring FTM down to $0.325 at the bull channel support line, where we should look for either a bounce or breakout to the downside. A bounce should consist of a bull signal bar followed by confirmation, a strong bull bar closing on or near its high. If the price falls through the channel support, we should be looking for a strong bear bar closing near its low followed by a test of the channel low. At this point, we should be looking for a short entry. Key Points 1. Bull Channel, Always in Long 2. Weekly 200EMA Target 3. Gap to bottom of channel, $0.325 4. Bitcoin leading indicator, risk of pullback 5. RSI around 55.00, Wait for more Price Action. You are solely responsible for your trades, trade at your own risk! Let us know what you think in the comment section below!
Long
by TraderEngineering