🔥 FTM Bounce From Support

FTM has seen an amazing period in February. However, for the last few weeks FTM has been consolidating and mostly underperforming the markets. This trade is based on the continuation of the consolidation pattern. FTM will fall towards the Entry line and rebound from it since it's a strong support.

Before entering this trade wait for the price to touch the Entry line. Higher time frames yield a higher predictive power.

On the chart I’ve marked two potential areas of resistance, R1 and R2. These areas are based on recent swing highs. Do your own due diligence.

Happy trading!