XTZUSDT 1D long setup; finished retracement, confirmed support
TA Explained
XTZUSDT broke long lasting resistance zone beginning of last month. Retracement is completed to just a little bit deeper than the golden pocket as can be seen on the 3D chart.
This retracement confirmed broken resistance zone to be support now. On lower timeframes we can see a downward channel which is broken and retested. Higher low is created. This can be the reversal. Next level to watch is a break above 3.480 which would mean a higher high being created.
Targets align with 0.618 fib level of the retracement, previous top and extended fib level. SL placed way below support area. Applying some learnings from previous setups...
Trade setup
Best entries: 3.195 - 3.395
TP1: 3.944
TP2: 4.386
TP3: 4.819
SL: 2.870
RR: 3.59
Max leverage: 3x
—————
Do Your Own Research (of course)
Trade at own risk (of course)
Only trade what you can afford to lose (of course)
XTZUSDT broke long lasting resistance zone beginning of last month. Retracement is completed to just a little bit deeper than the golden pocket as can be seen on the 3D chart.
This retracement confirmed broken resistance zone to be support now. On lower timeframes we can see a downward channel which is broken and retested. Higher low is created. This can be the reversal. Next level to watch is a break above 3.480 which would mean a higher high being created.
Targets align with 0.618 fib level of the retracement, previous top and extended fib level. SL placed way below support area. Applying some learnings from previous setups...
Trade setup
Best entries: 3.195 - 3.395
TP1: 3.944
TP2: 4.386
TP3: 4.819
SL: 2.870
RR: 3.59
Max leverage: 3x
—————
Do Your Own Research (of course)
Trade at own risk (of course)
Only trade what you can afford to lose (of course)