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AXS/USDTPERP Potential Upward Movement

AXS/USDTPERP Long-Term Trend: Bullish

Key Resistance Levels: 45.55, 48.83, 49.00

Key Support Levels: 41.26, 37.54, 37.00

Daily Chart:

The price on the higher time frame failed to break a strong support around the 37.54 USDT mark and posted an engulfing bullish pattern which reversed the price to the upside. The price is expected to continue further movement upward toward the next key level 45.55 USDT.

AXS/USDTPERP Medium-Term Trend: Bullish

1-Hour Chart:

On the lower time frame, the price succeeded to break the bearish channel to the upside where it posted a double bottom formation showing an end of the correction count. Further upside movement is expected but we prefer to buy around the highlighted zone for better Risk to Reward Ratio.

Signal Idea:

Buy Limit Order @ 41.39

TP 1 @ 45.44

TP 2 @ 48.83

Stop Loss @ 40.38

Trade Safely 🙂

About Joe Damien

Joe is a proven Forex analyst and manual trader with 6 years of full-time trading experience. He is a swing trader that relies on price action, market structure and Fibonacci retracement. His two most successful pairs are CHF/JPY, CAD/JPY, but his expertise allows him to profit on any asset or pair.

3 comments

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