🟢 $GPSUSDT — possible bounce setup
Price had a strong 1H bearish structure: each candle updated the low, while highs stayed below previous highs.
The latest closed 1H candle failed to make a new low, while the previous high is still holding.
If price updates the last low again, the bounce idea is cancelled. Stop is below the last low.
Fibonacci range: full 1H drop move, from max high to min low of the whole series.
Plan by Fibonacci retracement:
Entry zone: 0.006781 - 0.006717
Stop: 0.006652668
TP1 Fib 0.236: 0.007334116
TP2 Fib 0.382: 0.007747442
TP3 Fib 0.5: 0.0080815
TP4 Fib 0.618: 0.008415558
Series: 6 candles
Move: 29.81%
Timeframe: 1H
Extreme candle wick filter: max 3.5%
Educational setup example. Not financial advice.
#Cryptobalid_bots
Price had a strong 1H bearish structure: each candle updated the low, while highs stayed below previous highs.
The latest closed 1H candle failed to make a new low, while the previous high is still holding.
If price updates the last low again, the bounce idea is cancelled. Stop is below the last low.
Fibonacci range: full 1H drop move, from max high to min low of the whole series.
Plan by Fibonacci retracement:
Entry zone: 0.006781 - 0.006717
Stop: 0.006652668
TP1 Fib 0.236: 0.007334116
TP2 Fib 0.382: 0.007747442
TP3 Fib 0.5: 0.0080815
TP4 Fib 0.618: 0.008415558
Series: 6 candles
Move: 29.81%
Timeframe: 1H
Extreme candle wick filter: max 3.5%
Educational setup example. Not financial advice.
#Cryptobalid_bots