$ME $ME 3h Market Read
- I expect the price to first test the 0.0661 support area, possibly even wicking down to 0.06037 for a quick liquidity sweep.
- If bullish confirmation appears in this zone, the price should rebound and head towards 0.07001 and above, targeting 0.07380 as the next major level.
- If 0.0661 fails to hold and price sustains below 0.06037, the structure would turn bearish and I would no longer look for longs until bullish structure reappears.
- For a trade setup: watch for a fake-out below 0.0661 or 0.06037, confirmed by a strong bullish candle or reversal pattern, then enter long with targets at 0.07001 and 0.07380. Stop-loss goes just below the relevant swing low.
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