FTM has dropped 50% since 02/03/2022 after key personnel associated with its project announced departure, this has left FTM near an area not touched since 09/21.
Looking at the 6H chart, we have Bullish Divergence + Hammer Fractal (currently this is still Subjective until a clear break in Market structure)
As the market has overextended to the downside - an automatic rally was very likely.
As a trading idea, price would need to be > $1.30s as this would clear a key level and the 50ema
I am early in my development in charting, any tips to improve would be very helpful - Many thanks :)
Looking at the 6H chart, we have Bullish Divergence + Hammer Fractal (currently this is still Subjective until a clear break in Market structure)
As the market has overextended to the downside - an automatic rally was very likely.
As a trading idea, price would need to be > $1.30s as this would clear a key level and the 50ema
I am early in my development in charting, any tips to improve would be very helpful - Many thanks :)
Trade closed manually:
TOOK the trade 1.21s
Stop Loss was the 6hr ATR value = 1.16
R2 = 1.48
R3 = 1.58
R4 = 1.68
Took profit at R4
Stop Loss was the 6hr ATR value = 1.16
R2 = 1.48
R3 = 1.58
R4 = 1.68
Took profit at R4