🔥 $WOO Trading Strategy (4h) - Bulls have started accumulating again
Entry Point: 0.02640 - 0.02660
Stop Loss: 0.02550
TP 1: 0.02920 (Retest the previous high)
TP 2: 0.03150 (Further resistance zone on the daily timeframe)
TP 3: 0.0365 (Further resistance zone on the weekly timeframe)
🎯 Trading Strategy: "Riding on the Back of the Shark"
🧐 Market Structure: WOO has broken out of the 0.02156 bottom and created a high at 0.02924. Currently, the price is in a correction phase and forming higher lows. This is a typical recovery structure after a prolonged decline
EMA 17 (Green) and EMA 55 (Red) are trending upwards and beginning to converge
The current price around 0.02659 is right above the "buffer zone" of these two EMAs. In Price Action, this is an extremely important dynamic support zone; if it holds, the uptrend will continue
Candlestick signals and Volume: The recent corrective candlesticks have small bodies and decreasing volume compared to the huge green volume candlestick before. This indicates that the sellers are running out of strength and this is just a "pause" for the buyers to accumulate more shares #PriceActionAnalysis