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MANA/USDT (Futures) Potential Downward Movement

MANA/USDT (Futures) Long-Term Trend: Bearish

Key Resistance Levels: 3.8027, 4.1949, 5.5992.

Key Support Levels: 2.5756, 2.3605, 2.1834.

Daily Chart:

The price on the higher time frame is in a clear upward movement where the market posted a correction count along with a Wyckoff accumulation phase showing that the market is about to move higher,

MANA/USDT (Futures) Medium-Term Trend: Bearish

1-Hr Chart:

On the lower time frame, the price found buyers around the 61.80 % Fibonacci retracement level where it is traded inside a bullish pennant pattern. 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 @ 2.9918

TP 1 @ 3.7243

TP 2 @ 4.1949

Stop Loss @ 2.6311

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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