Fantom – Second Entry Point
• Please read my previous FTM idea for context.
• It looks as if FTM has taken the straight route up. (Green Scenario)
• If FTM moves above 0.333 USD I will consider it a ChoCh on the daily chart . Meaning, a move from a downtrend to an uptrend.
• IMO, there are two ways to play this. In the end they are all the same:
1. Simple Support/Resistance Flip trade: Wait for FTM to test the 0.333 USD Level as support to enter long with the SL below the previous low.
2. Wait for a pullback to the demand zone with a SL below the zone. FYI, this demand zone was tapped once on June 24th, but it doesn’t mean that price will not test this demand zone again.
Trade Idea 1 (Support/ Resistance Trade):
• Entry: 0.333
• SL: 0.2876
• Target: 0.546 (TP along the way, leave a moon bag)
Trade Idea 2 (Demand Zone):
• Entry: 0.3
• SL: 0.2876
• Target: 0.546 (TP along the way, leave a moon bag)
NFA.
What do you think? Please share in the comments.
Best wishes to all.
• It looks as if FTM has taken the straight route up. (Green Scenario)
• If FTM moves above 0.333 USD I will consider it a ChoCh on the daily chart . Meaning, a move from a downtrend to an uptrend.
• IMO, there are two ways to play this. In the end they are all the same:
1. Simple Support/Resistance Flip trade: Wait for FTM to test the 0.333 USD Level as support to enter long with the SL below the previous low.
2. Wait for a pullback to the demand zone with a SL below the zone. FYI, this demand zone was tapped once on June 24th, but it doesn’t mean that price will not test this demand zone again.
Trade Idea 1 (Support/ Resistance Trade):
• Entry: 0.333
• SL: 0.2876
• Target: 0.546 (TP along the way, leave a moon bag)
Trade Idea 2 (Demand Zone):
• Entry: 0.3
• SL: 0.2876
• Target: 0.546 (TP along the way, leave a moon bag)
NFA.
What do you think? Please share in the comments.
Best wishes to all.
Trade active:
If someone took this long with me, good luck
