LONG SETUP – $FOLKS
🔥
FOLKS just completed a clean bottoming structure and is now breaking out with strong momentum. This move is the start of a larger reversal, not just a dead-cat bounce.
⸻
📊 Trade Setup
Entry Zone: 5.55 – 5.8
Stop Loss: 4.55
Take Profit Targets:
• TP1: 7.80
• TP2: 11.20
• TP3: 16.10
⸻
🔥 Bullish Justification
After a prolonged downtrend, $FOLKS formed a rounded base + higher low structure on the 1H timeframe. The current candle shows a decisive breakout from compression, accompanied by volume expansion, confirming real buyers stepping in.
The zone around 5.5–5.7 has flipped from resistance into strong demand support. As long as price holds above 4.55, the bullish structure remains intact.
Above current price, there is very little resistance, meaning upside can accelerate quickly once momentum continues. TP1 targets the first reaction level, while TP2–TP3 align with higher timeframe liquidity and prior distribution zones.
🔥 Bias: STRONG LONG. Trail profits smartly, respect stoploss, and let the trend do the work. This setup favors continuation. 🚀🔥