"Long USDT/USDT: Strong Support & Fibonacci Confluence for 18-20
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Long Trade Setup: USDT/USDT – Confluence of Support, Fibonacci, and Demand Zone
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Trade Setup Overview:
- Entry: 15.43 USDT
- Stop Loss: 14.4 USDT
- Take Profit 1 (TP1): 18 USDT
- Take Profit 2 (TP2): 20 USDT
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Analysis & Reasoning:
Support and Resistance (Daily Chart):
The daily support at 15.43 USDT has been respected multiple times, indicating strong demand in this area. The price is currently within a bullish range, and this presents an opportunity to capitalize on the market's potential for upward movement from this support level.
- On the daily chart, we also identify key resistance levels at 18 and 20 USDT, which will serve as our target zones for exit. These levels have been pivotal in the past, and they offer a logical place to book profits.
Fibonacci Golden Pocket (Daily Chart):
The price is at a critical Fibonacci Golden Pocket zone, which usually marks a high probability of either a price reversal or continuation. The Fibonacci retracement levels align perfectly with the daily support at 15.43 USDT, reinforcing the setup and indicating that this is a strong area for a long entry.
- This alignment adds further confluence to the trade idea, giving us increased confidence in the potential move.
4-Hour Chart (Relative Equal Low Sweep & Demand Zone):
On the 4-hour chart, we see a relative equal low sweep, which typically signals that the market has absorbed enough sell orders and is now ready for a bullish reversal. The price has dropped below a previous low but has quickly reversed, suggesting that buyers are stepping in.
- This move coincides with a demand zone around 15.43 USDT on the 4-hour chart, reinforcing the idea that the price has likely found strong support at this level. This additional confirmation on the lower timeframe strengthens the setup even further.
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Conclusion & Trade Execution:
- Entry: 15.43 USDT (supported by daily support, Fibonacci golden pocket, and demand zone on the 4-hour chart).
- Stop Loss: 14.4 USDT (placed below the recent swing low, keeping a favorable risk/reward ratio).
- Take Profit 1 (TP1): 18 USDT (first resistance level).
- Take Profit 2 (TP2): 20 USDT (secondary resistance level).
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Final Thoughts:
This trade setup is built with strong confluence from multiple timeframes and key technical levels. The combination of support, Fibonacci, and demand zone provides a high probability of success. Ensure proper risk management, and trade responsibly.
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Disclaimer:
This analysis is for educational purposes only and should not be considered financial advice. Trading involves risk, and you should do your own research before making any investment decisions. The author is not responsible for any financial losses incurred. Always manage your risk appropriately.
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Happy trading! 🚀
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