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Ftmlongsetup

#FTM Possible Elliott scenarioAfter touching the range specified in the previous post, it is still moving in a downward channel. At the bottom of the channel, it has gone through a full cycle of correction, which has currently had a full cycle in the form of wave 1 of ascension, and the current correction is a response to the rise from the channel floor to the channel ceiling. The two PRZ zones can complete the wave 2 correction and after that it should witness the exit from the descending channel. But now, if we have confirmation of the continuation of the process, the roof of the channel and the roof of the minor should be broken upwards, so that I can clearly say that the correction of wave 2 is over. Therefore, for the moment, you can act in these two ways for the buying position. Either you have to wait for the second PRZ, or after the break of the ceiling of the channel or the ceiling of the minor supply, it will enter wave 3 or C... ------------ Please support this idea with a LIKE and COMMENT if you find it useful and Click "Follow" on our profile if you'd like these trade ideas delivered straight to your email in the future. Thanks for your continued support. Sincerely.
Long
by alikze
12
FTM → Fantom Closing in on Major Resistance. What's Next!?Fantom has been marching toward the next key resistance zones ($0.53 and $0.65) as Bitcoin inches toward it's major resistance area of $46,000. The crypto market is burning hot, most tokens are multiple legs into this bull run, what should we expect next? How do we trade this? 🤔 FTM is clearly aiming to touch $0.53, that almost seems inevitable. What we need to watch out for in these areas is a strong sell response to the resistance zones. If we're going to look for the reversal trade, it is a *must* that we see a strong sell off followed by a re-test of resistance, then a strong bear candle confirmation on a new low. The goal is to get into the trend as early as possible (thus, reversal trading), but you can't short bull candles closing on their highs. It's reasonable to continue long scalping on smaller timeframes like the 15m and 1hr charts. Our bias ought to remain long until that reversal opportunity shows up. My recent Lifetime Bitcoin analysis covers my rationale in looking for a strong reversal to the $20,000-$25,000 area before the next all-time highs are achieved: 💡 Trade Ideas 💡 Long Entry: $0.48 🟥 Stop Loss: $0.41 ✅ Take Profit: $0.55 ⚖️ Risk/Reward Ratio: 1:1 🔑 Key Takeaways 🔑 1. Bull Channel, Bias to Long. 2. Three Pushes Up, Looking for A 4th, Watch for Trend Change. 3. Ascending Wedge Breakout to the Upside, Target $0.53. 4. Look for Resistance at $0.53, Support, Potential toward $0.655. 5. RSI over 70.00, Watch for Pullback. 💰 Trading Tip 💰 It's reasonable to take half profits at 1:1 Risk/Reward on a swing trade and move the stop loss up to entry. This secures profits, and allows the latter half of your position to be executed without the worry of loss, improving trading psychology. ⚠️ 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 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, $0.325 4. Bitcoin leading indicator, risk of pullback 5. RSI around 55.00, Wait for more Price Action. You are solely responsible for your trades, trade at your own risk! Let us know what you think in the comment section below!
Long
by TraderEngineering
FTM 1st wave breakout - longtermTLDR - Longterm targets: 5$ and 9$ ------------- As I mentioned in a previous idea, I believe FTM broke the zigzag correction in october of 22. Historically speaking, the Elliott Wave Theory fits like glove on this token, so my selling strategy will be according to that same theory as well, besides the usual indicators. FTM is a low profile token that actually solves problems and the FTX shambles was what prevented the first impulse to carry the price action. It was hinted then and it's obvious now that the exchange's debacle and its native token was a "small" stone on what already seemed back then a clear path to my long term targets of 5$ and $9. They still stand. I don't know how long it will take, but it's now confirmed that the journey already began. ¡See you there! ---------- DYOR
Long
by Zerkaalo