FET:USDT - Algo target: $3.90, targets 1900% to +6100%, epic R:R
Fetch.AI had a perfect reaction at the golden pocket so the algos should be behind it targeting $3.90. A mean reversion trade is in play with 80% odd of hitting the target, currently at around +10x. Price has reacted at the local 0.5 fib so there's potential for this to be the local low but there's still a chance to dip to the golden pocket. There's an insane R:R for these trades.
Key points:
The trade:
Entry 1: Here, or close as possible to the 0.5fib (currently 0.1910)
Entry 2: 0.618fib @ 0.135
Entry 3: add to position if there's a reaction and retrace at gold zone
Target 1: $3.90
Target 2: $8.28
Target 3: median line touch - may happen before other targets
Stop 1: just below the pervious low at the 0.5fib @ 0.17
Stop 2: just below the 0.65fib @ 0.1221
Stop 3: set based on fibs from additional entries
Risk management: the stop loss is a significant drawdown @ about 8% so compensate for this by entering with a smaller position (risk no more than 2% of account balance for the drawdown)
If given the opportunity with additional .618 retracements add to position & move stop to new .707.
D.Y.O.R. DO NOT BLINDLY TAKE THESE TRADES.
Never Trust. Verify. PLEASE DO YOUR OWN ANALYSIS.
This is not financial advice. These are just my observations.
Technical Analysis is not about being right, it's about increasing your odds.
Be prepared to be wrong. Risk management is key. Capital preservation above all else.
Key points:
- Pitchfork Mean Reversion for Modified Schiff hit
- Pitchfork Mean Reversion for Original still in play (+10x from here with 80% odds)
- Algo target at $3.90
- 1:1 of the swing range projected from the low gives a target of $8.2
- Currently above monthly support
- Currently below monthly resistance
- 0.5fib entry R:R = 220R & 369R
- 0.618 entry R:R = 345R & 745R
The trade:
Entry 1: Here, or close as possible to the 0.5fib (currently 0.1910)
Entry 2: 0.618fib @ 0.135
Entry 3: add to position if there's a reaction and retrace at gold zone
Target 1: $3.90
Target 2: $8.28
Target 3: median line touch - may happen before other targets
Stop 1: just below the pervious low at the 0.5fib @ 0.17
Stop 2: just below the 0.65fib @ 0.1221
Stop 3: set based on fibs from additional entries
Risk management: the stop loss is a significant drawdown @ about 8% so compensate for this by entering with a smaller position (risk no more than 2% of account balance for the drawdown)
If given the opportunity with additional .618 retracements add to position & move stop to new .707.
D.Y.O.R. DO NOT BLINDLY TAKE THESE TRADES.
Never Trust. Verify. PLEASE DO YOUR OWN ANALYSIS.
This is not financial advice. These are just my observations.
Technical Analysis is not about being right, it's about increasing your odds.
Be prepared to be wrong. Risk management is key. Capital preservation above all else.