๐ RAVE Long Setup in Focus ๐
Trading Plan:
Bias: Long
Entry: 0.5150 - 0.5350
SL: 0.4950
TP1โTP3: 0.5830 / 0.6800 / 0.7800
Technical Analysis:
The asset remains in a broader uptrend despite the recent sharp correction. The current price action indicates a pullback to a significant technical support zone. Price is testing the 0.618 Fibonacci retracement level, measured from the swing low at 0.35703 to the recent high of 0.79581. This "golden pocket" area is a high-probability zone for trend continuation. Furthermore, a potential bullish divergence is forming on the MACD indicator on this timeframe, suggesting that downside momentum is weakening even as price has fallen. Confirmation of this setup would be a strong volume bounce from the current support level and a reclaim of the moving averages above.
Invalidation:
Only a break below 0.4950 would invalidate this bullish continuation setup.
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