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KAVA/USDTPERP Potential Upward Movement

KAVA/USDTPERP Long-Term Trend: Bullish

Key Resistance Levels: 8.9250, 0.8930, 0.8940.

Key Support Levels: 7.3990, 6.7170, 67100.

Daily Chart:

The price on the higher time frame posted an engulfing bullish pattern near a strong support around the 7.3990 USDT mark and reversed to the upside. The market now is traded around the 8.0185 USDT level and is about to move upward again after the correction.

KAVA/USDTPERP Medium-Term Trend: Bullish

1-Hour Chart:

On the lower time frame, the price is traded inside a Wyckoff distribution phase where we expect a breakout to the upside after the buyers takes full control of the market and this will lead to a huge move all the way up toward the previous all time high.

Signal Idea:

Buy Stop Order @ 8.1890

TP 1 @ 9.0580

TP 2 @ 9.2200

Stop Loss @ 7.9000

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.

One comment

  1. Hello,

    Could you send me a screenshot or explain to me how you trade using FTX?

    It would be great, thank you very much

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