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KNC/USDT (Futures) Potential Upward Movement

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

Key Resistance Levels: 1.466, 1.516, 1.600,

Key Support Levels: 1.358, 1.260, 1.204.

Daily Time Frame:

The price on the higher time frame succeeded to break the bearish channel to the upside and posted a double bottom formation near the strong support level 1.260 USDT mark. the market managed to break the strong resistance around the 1.377 USDT level and is expected to continue its move upward all the way up toward the next key resistance level.

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

1-Hr Time Frame:

On the lower time frame, the price succeeded to break the bullish flag to the upside with the help of a double bottom formation. A lower correction could be seen to the highlighted zone before a new bullish impulsive wave toward the target profits.

Buy Limit Order @  1.366

TP 1 @ 1.457

TP 2 @ 1.516

Stop Loss @ 1.321

Trade Safely 🙂

In many cases we manually use market orders instead of pending orders to trade the trading ideas we send you. This is higher risk, and you can decide if it suits your trading style.

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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