Keep an eye on FET!

19 Şub 2023

Here's a quick look at FET 2 hr. chart. As we can see, the price has been oscillating within the bigger triangle and bigger move either way is expected!
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The idea is: Buy when the price breaks above the triangle and take profits at the levels shown in the chart.

Targets:

1. 0.45$
2. 0.48$
3. 0.5$
4. 0.55$
5. 0.6$

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What's a Fair Value Gap (FVG) ?:
A fair value gap is the difference between a financial instrument's theoretical value and market value, such as a derivative or security. It can indicate a misprizing opportunity for traders to profit by buying or selling at the misprized level. In other words, there is a gap in the price in which some open orders still need to be filled. The price will return to fill the orders.
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What are triangles when it comes to trading?

Key points:
"1. In technical analysis , a triangle is a continuation pattern on a chart that forms a triangle-like shape.

2. Triangles are similar to wedges and pennants and can be either a continuation pattern if validated or a powerful reversal pattern in the event of failure.

3. three potential triangle variations can develop as price action carves out a holding pattern, namely ascending, descending, and symmetrical triangles."

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BTC dictates the market. If BTC falls, then Alts will drop as well. Trade safe!

19 Şub 2023

Yorum

The BTC pair is also looking for a bigger breakout!