🧐 $FARTCOIN Trading Strategy (1H) - A Great Bait for the Bears 📉
Entry Point: 0.2830 - 0.2880. If a Pin Bar appears here, Short immediately
Stop Loss: 0.2910
TP 1: 0.2650 (Retest the previous low)
TP 2: 0.2430 (4-hour resistance)
🎯 "Bear Hunting" Trading Strategy (Short)
Bull Trap: The price just experienced a sharp drop from 0.3172 to 0.2648. The bounce immediately afterward was just a technical rebound, and currently the price is creating small-bodied candles with long upper wicks, indicating that selling pressure remains very strong
The price is currently below both the 21-day EMA (0.2829) and the 60-day EMA (0.2881)
Both EMAs are sloping downwards. In Price Action, this is a sign of a sustained downtrend. Any upward pullback to touch the EMAs is easy prey for the bears to push the price down #PriceActionAnalysis