JUP for a LONG to $1.19

24 Oca

I like a LONG position in JUP. It has had a big rise in volume, OBV is increasing, and Open Interest is increasing. Its aVWAP price sits at about $1.03, and today, it has been testing the one std dev away from the mean (also the 0.236 Fib level). A break above this would be bullish.
Hypothesis rejected: If we do not break above this level, we could see another retest of the FVG at $0.681, although it has been retested many times. The rising OBV, OI, and aVWAP would suggest a move to the 0.618 FIB level, which has the confluence of the aVWAP 1 STD DEV, which is a strong possibility, putting JUP in the region of $1.19.

26 Oca

İşlem kapandı: hedefe ulaştı

Exited this trade at $1.215 for a nice profit. Hoping for a pull back to aVWAP/0,382 Fib for another potential LONG. Also was able to get in on a SHORT scalp using the hourly.