$RED $RED 4h Update: | finorabot.com -
- As of now, price is consolidating but showing bullish momentum on most indicators despite the weak trend.
- The most probable scenario is price testing down toward 0.0905 or 0.0861 to grab liquidity before a reversal and push higher.
- If a clear bullish reversal pattern appears after a sweep below 0.0905 or 0.0861, I expect a move first to 0.0948, then 0.0960, and potentially to the 0.1098 supply area.
- Entry example: If a pin bar or engulfing candle forms on the 4h after a wick below 0.0905, enter long, targeting 0.0948 and 0.0960. Consider runners toward 0.1098 if momentum continues, with the stop below 0.0861.
- If price fails to reclaim above 0.0905 or closes below 0.0861, that would invalidate the bullish setup and open the door for a deeper move lower.
- If price breaks above 0.0960 with volume, a breakout long can be considered, targeting 0.1098 and 0.1222—again, wait for a strong candle close and pullback confirmation.
- Keep an eye on reversals near the most recent swing high (0.1222) for possible short setups if there’s a sign of manipulation and rejection.
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