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HOT/USDTPERP Potential Upward Movement

HOT/USDTPERP Long-Term Trend: Bullish

Key Resistance Levels: 0.012332, 0.016422, 0.016500.

Key Support Levels: 0.009731, 0.008659, 0.008600.

Daily Chart:

The price on the higher time frame failed to break the 0.009731USDT mark and reversed higher where it posted higher lows. The market as well showed a bullish bar with a long wick to the downside indicating that the buyers are in control.

HOT/USDTPERP Medium-Term Trend: Bullish

1-Hour Chart:

On the lower time frame, the price posted a double bottom formation which led to a reversal and a move higher. A lower correction could be seen to the highlighted zone before a new bullish impulsive wave toward the target profit.

Signal Idea:

Buy Limit Order @ 0.010424

TP 1 @ 0.012309

TP 2 @ 0.016422

Stop Loss @ 0.009873

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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