🌞 Update market [4/12] [WLD]. 💵
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📉 Technical analysis & Momentum (H1 timeframe):
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The setup for WLD/USDT is a "Technical Recovery" (Mean Reversion) after a strong sell-off:
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Deep Oversold: The Stoch RSI indicator has reached a bottom of 10.25 - 22.51. At this level, the Short side typically takes profits, allowing the price to bounce back.
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Price gap: The current price (0.6351) is quite far from the red Kijun-sen line (0.6393). According to Ichimoku principles, the price tends to be attracted towards the Kijun to balance the state (magnet phenomenon).
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Support: The price has created a short-term bottom around 0.615 and is starting to pull up. The selling volume has significantly decreased.
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👉 Mindset: Quick in and out (Scalp) to catch the retracement wave.
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RECOMMENDED POSITION
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🌍 LONG ENTRY: 0.6300 - 0.6360.
🛑 SL: 0.6100 (Breaking the old bottom).
🎯 TP1: 0.6550 (Flat cloud resistance zone).
🎯 TP2: 0.6700 (Upper boundary of the accumulation zone).
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This article is only a market information suggestion, not an investment call! #DYOR #NFA $WLD
