I’m looking for a bounce play here as APT tested a strong Fibonacci retracement level and is showing signs of reclaiming support.
🔹 Entry: Around $4.62 (0.309 Fib level & horizontal support).
🔹 Stop Loss: Below $4.38 (invalidates structure if broken).
🔹 Target (TP): Around $4.96 – $5.18 (0.5 to 0.618 Fib retracement + confluence with Bull Market Support Band).
Reasons for the Long:
✅ Fib Confluence – Price is reacting from the 0.309 retracement level and aiming for the 0.5 – 0.618 zone.
✅ Bull Market Support Band – Target aligns with the weekly bull support band, which often acts as dynamic resistance.
✅ Risk-Reward Ratio – Around 1:2.5, making this setup favorable.
✅ Structure – Higher low formation suggests bulls are trying to defend this region.
⚠️ Note: If price fails to hold above $4.50 – $4.60, the setup gets invalidated and I’ll cut early. Next major support sits around $4.30 – $4.05.
🔹 Entry: Around $4.62 (0.309 Fib level & horizontal support).
🔹 Stop Loss: Below $4.38 (invalidates structure if broken).
🔹 Target (TP): Around $4.96 – $5.18 (0.5 to 0.618 Fib retracement + confluence with Bull Market Support Band).
Reasons for the Long:
✅ Fib Confluence – Price is reacting from the 0.309 retracement level and aiming for the 0.5 – 0.618 zone.
✅ Bull Market Support Band – Target aligns with the weekly bull support band, which often acts as dynamic resistance.
✅ Risk-Reward Ratio – Around 1:2.5, making this setup favorable.
✅ Structure – Higher low formation suggests bulls are trying to defend this region.
⚠️ Note: If price fails to hold above $4.50 – $4.60, the setup gets invalidated and I’ll cut early. Next major support sits around $4.30 – $4.05.
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.