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CHR/USDT (Futures) Potential Upward Movement

CHR/USDT (Futures) Long-Term Trend: Bullish

Key Resistance Levels: 0.5564, 0.5932, 0.6097.

Key Support Levels: 0.5113, 0.4944, 0.4920.

1-Hr Time Frame:

The price on the higher time frame succeeded to break the bearish trendline to the upside after finding buyers below the support level around the 0.5099 USDT mark. So the break of the structure shows that there is a potential of a reversal and a move to the upside.

CHR/USDT (Futures) Medium-Term Trend: Bullish

15-Mins Time Frame:

On the lower time frame, the buyers succeeded to break the accumulation phase to the upside where we can see a strong positive moment. A lower correction to the bespoke support before a new bullish impulsive wave toward the target profit.

Buy Limit Order @ 0.5112

No Target Profit –> Trailing Stop

Stop Loss @ 0.4871

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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