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FET – Falling Wedge breaks Out to create Bull Flag

Long
Fetch.AI / TetherUS PERPETUAL CONTRACT (BINANCE:FETUSDT.P)  
NewThoughtCrypto  
BINANCE:FETUSDT.P   Fetch.AI / TetherUS PERPETUAL CONTRACT
Trend Analysis Chart Patterns Technical Indicators fetchai fetch FET FETUSDT fetusd fetusdperp fetlong
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trendanalysis chartpattern indicator fetchai fetch fet fetusdt fetusd fetusdperp fetlong
  • Please Read my previous FET idea for more context.
  • For now, it looks as if FET broke out of the Falling Wedge, and it is forming a Bull Flag.
  • Falling Wedge target: 0.422 USD
  • Bull Flag Target: 0.31 USD
  • Both targets have confluence with daily resistance level and can serve as TPs.
  • Final confirmation is when FET breaks above 0.2544 USD. You don’t have to wait for 0.25 to take the trade.
Trade Idea No.1:
  • Entry: 0.235 USD (approximately, break out of the Bull Flag)/
  • SL: 0.2040 USD
  • Target: 0.4223 USD
  • TP: 0.31, 0.4223 (leave some on the table)
  • R: R: 1:6
Trade Idea No. 2:
  • Entry: 0.254
  • SL: 0.2238 (below the Flag’s resistance line)
  • Target: 0.41
  • TP: 0.31, 0.4223 (leave some on the table)
  • R: R: 1:5.94

Related Ideas

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FET Trading Plan, July 16th – 22nd, 2023
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FET – Possible Reversal Pattern
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