FOLKS has just experienced a blow-off top in the area of 4.89 followed by a sharp dump with high volume. The current structure is still forming lower high – lower low, with prices weakly holding below the Supertrend (10,3). As long as the price has not reclaimed the key resistance, the bearish bias remains dominant.
🔴 Main Setup – Short (High Probability)
Entry: 4.85 – 4.95 (rejection & supply area)
TP 1: 4.65
TP 2: 4.45
TP 3: 4.30
SL: 5.05 (close candle H1 above resistance → invalidation of bearish)
Reason: Rejection in the former peak area + selling pressure is still greater than buyers. This setup follows the main trend, not against the current.
🔵 Alternative Setup – Long (Conditional)
Entry: 4.95 – 5.00 (valid break & retest)
TP 1: 5.25
TP 2: 5.60
TP 3: 6.00
SL: 4.70
Reason: Long is only valid if a strong breakout occurs + volume increases. Without confirmation, the potential rise is merely a dead cat bounce.
🎯 Risk Management (Mandatory)
Max risk 1–2% per trade
Use partial TP to lock in profit
Avoid entry in the middle of the range without confirmation
📌 Conclusion
As long as FOLKS is still below 4.90, the market is healthier for short on rejection. Long is only recommended if a valid breakout occurs, not out of FOMO.
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$FOLKS
