Based on the provided chart for STPT/USDT on a 4-hour timeframe from Binance, here's a detailed trading plan:
### Entry Point - **Entry Zone**: Between 0.04274 and 0.04632 USDT - This range represents a significant support zone where the price is likely to find buying interest.
### Target (Take Profit) Levels - **First Target (TP1)**: 0.06971 USDT - This level is around the 50% Fibonacci retracement, which often acts as a strong resistance. - **Second Target (TP2)**: 0.07885 USDT - This level is a higher resistance zone and aligns with previous price action and the 38.2% Fibonacci retracement.
### Stop Loss - **Stop Loss**: 0.03983 USDT - This stop loss level is set below the support zone to protect against a deeper downside move.
### Technical Indicators - **RSI**: Currently around 49.34, indicating a neutral market with no strong overbought or oversold conditions. - **Order Blocks (OB)**: - Red zones indicate significant resistance areas to watch for potential take profits or reversals.
### Chart Patterns and Analysis - **ABCD Pattern**: This pattern suggests that the price has completed a significant move and is likely to retrace to a Fibonacci level before resuming its trend. - **Descending Channel**: The price is currently within a descending channel, indicating a potential reversal once it breaks out of this channel.
### Trade Plan Summary 1. **Enter** the trade within the 0.04274 to 0.04632 USDT range. 2. **Set Stop Loss** at 0.03983 USDT to manage risk. 3. **Target Levels**: - **First Target (TP1)** at 0.06971 USDT. - **Second Target (TP2)** at 0.07885 USDT.
Always remember to manage your risk appropriately and adjust your trade parameters based on market conditions.
As informações e publicações não devem ser e não constituem conselhos ou recomendações financeiras, de investimento, de negociação ou de qualquer outro tipo, fornecidas ou endossadas pela TradingView. Leia mais em Termos de uso.