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BADGER/USDTPERP Potential Upward Movement

BADGER/USDTPERP Long-Term Trend: Bullish

Key Resistance Levels: 36.30, 42.15, 42.50

Key Support Levels: 22.68, 19.92, 19.50

Daily Chart:

The price on the higher time frame succeeded to break the wedge formation to the upside and posted higher highs and lows. The daily resistance became support around the 22.68 USDT mark where the price retraced to it and posted an engulfing bullish pattern. This could lead to further movement to the upside.

BADGER/USDTPERP Medium-Term Trend: Bullish

1-Hour Chart:

On the lower time frame, the price posted a correction count around the 22.68 USDT level where it found buyers around the 61.80 % Fibonacci retracement level. This led to a move to the upside in the direction of the main trend. A lower correction could be seen to the highlighted zone before a new impulsive wave toward the target profit.

Signal Idea:

Buy Limit Order @ 26.98

TP 1 @ 36.05

TP 2 @ 36.30

Stop Loss @ 24.78

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.

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