The market is holding steady as it tries to build a new base for the next move up.
I am looking at $EWY USDT on the 1-hour chart and the trend is showing bullish strength. My trade plan is to look for a long entry because the price successfully rejected the deep lows and is now consolidating near the local highs. I noticed that the selling pressure has dried up around the $151.00 area, suggesting that buyers are absorbing the remaining supply.
I see a clear path toward the previous resistance near $154.00, where a lot of liquidity is currently sitting. The market structure looks healthy as long as we stay above the mid-point of the recent recovery. I am keeping my risk tight with a stop loss just below the consolidation zone.
Trade Plan:
Entry: $151.97
Stop Loss: $149.97
Take Profit 1: $153.97
Take Profit 2: $155.97
EWYUSDT
دائم
155.55
+4.88%