TheSignalyst

FTM - Trio Retest!

Long
BINANCE:FTMUSDT   Fantom / TetherUS
Hello Trading Family, FTM is approaching an interesting area. What I call "TRIO RETEST"

Here is why => The Highlighted Purple Circle is the intersection of Three key rejection levels/zones.

Retest 1: Brown Trendline
Gold is overall bullish and currently testing the brown trendline which acts as non-horizontal support.

Retest 2: Lower Red Trendline
The lower red trendline is the lower bound of the channel which I consider as an oversold area.

Retest 3: Green Support - 1.9-2.0
The green level is a previous resistance turned into support

As per my trading style/plan:
I will zoom in to lower timeframes and look for bullish reversal setups (like a double bottom , trendline break , and so on...)

Always follow your trading plan regarding entry, risk management, and trade management.

Good Luck

All Strategies Are Good; If Managed Properly!
~Rich

This analysis is done using RichTL indicator
http://www.RichTL.com

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