Breaking News

REN/USDT (Futures) Potential Upward Movement

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

Key Resistance Levels: 0.4200, 0.4339, 0.4400.

Key Support Levels: 0.4043, 0.3935, 0.3909.

1-Hr Time Frame:

The price on the higher time frame is in a clear upward movement. It posted a deep correction where it found a support level around the 0.3900 USDT mark. The market could not continue to the downside in the opposite reversed and moved higher where it left a hammer bar with a long wick to the downside.

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

10-Mins Time Frame:

On the lower time frame, the buyers succeeded to break the bearish trend line to the upside after a double bottom formation. A lower correction has been posted to the support level to bring back liquidity before a new bullish impulsive wave toward the target profits.

Buy Market Order @ 0.4061

Target Profit 1 @ 0.4200

Target Profit 2 @ 0.4339

Stop Loss @ 0.3922

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.

Leave a Reply

Your email address will not be published.

This site uses Akismet to reduce spam. Learn how your comment data is processed.

Download My Free Robot

Get your Robot Now!

Free Robot!