Based on the provided chart for STPT/USDT on a 4-hour timeframe from Binance, here's a detailed trading plan:
### Entry Point
- **Entry Zone**: Between 0.04274 and 0.04632 USDT
- This range represents a significant support zone where the price is likely to find buying interest.
### Target (Take Profit) Levels
- **First Target (TP1)**: 0.06971 USDT
- This level is around the 50% Fibonacci retracement, which often acts as a strong resistance.
- **Second Target (TP2)**: 0.07885 USDT
- This level is a higher resistance zone and aligns with previous price action and the 38.2% Fibonacci retracement.
### Stop Loss
- **Stop Loss**: 0.03983 USDT
- This stop loss level is set below the support zone to protect against a deeper downside move.
### Key Levels and Observations
- **Resistance Levels**:
- 0.06193 USDT (61.8% Fibonacci retracement)
- 0.06723 USDT (50% Fibonacci retracement)
- 0.07254 USDT (38.2% Fibonacci retracement)
- **Support Levels**:
- 0.04806 USDT (local support)
- 0.04274 USDT (stronger support)
### Technical Indicators
- **RSI**: Currently around 49.34, indicating a neutral market with no strong overbought or oversold conditions.
- **Order Blocks (OB)**:
- Red zones indicate significant resistance areas to watch for potential take profits or reversals.
### Chart Patterns and Analysis
- **ABCD Pattern**: This pattern suggests that the price has completed a significant move and is likely to retrace to a Fibonacci level before resuming its trend.
- **Descending Channel**: The price is currently within a descending channel, indicating a potential reversal once it breaks out of this channel.
### Trade Plan Summary
1. **Enter** the trade within the 0.04274 to 0.04632 USDT range.
2. **Set Stop Loss** at 0.03983 USDT to manage risk.
3. **Target Levels**:
- **First Target (TP1)** at 0.06971 USDT.
- **Second Target (TP2)** at 0.07885 USDT.
Always remember to manage your risk appropriately and adjust your trade parameters based on market conditions.
### Entry Point
- **Entry Zone**: Between 0.04274 and 0.04632 USDT
- This range represents a significant support zone where the price is likely to find buying interest.
### Target (Take Profit) Levels
- **First Target (TP1)**: 0.06971 USDT
- This level is around the 50% Fibonacci retracement, which often acts as a strong resistance.
- **Second Target (TP2)**: 0.07885 USDT
- This level is a higher resistance zone and aligns with previous price action and the 38.2% Fibonacci retracement.
### Stop Loss
- **Stop Loss**: 0.03983 USDT
- This stop loss level is set below the support zone to protect against a deeper downside move.
### Key Levels and Observations
- **Resistance Levels**:
- 0.06193 USDT (61.8% Fibonacci retracement)
- 0.06723 USDT (50% Fibonacci retracement)
- 0.07254 USDT (38.2% Fibonacci retracement)
- **Support Levels**:
- 0.04806 USDT (local support)
- 0.04274 USDT (stronger support)
### Technical Indicators
- **RSI**: Currently around 49.34, indicating a neutral market with no strong overbought or oversold conditions.
- **Order Blocks (OB)**:
- Red zones indicate significant resistance areas to watch for potential take profits or reversals.
### Chart Patterns and Analysis
- **ABCD Pattern**: This pattern suggests that the price has completed a significant move and is likely to retrace to a Fibonacci level before resuming its trend.
- **Descending Channel**: The price is currently within a descending channel, indicating a potential reversal once it breaks out of this channel.
### Trade Plan Summary
1. **Enter** the trade within the 0.04274 to 0.04632 USDT range.
2. **Set Stop Loss** at 0.03983 USDT to manage risk.
3. **Target Levels**:
- **First Target (TP1)** at 0.06971 USDT.
- **Second Target (TP2)** at 0.07885 USDT.
Always remember to manage your risk appropriately and adjust your trade parameters based on market conditions.