Breaking News

REN/USDTPERP Potential Upward Movement

REN/USDTPERP Long-Term Trend: Bullish

Key Resistance Levels: 0.36140, 0.41760, 0.48136

Key Support Levels: 0.30791, 0.28226, 0.25055

Daily Chart:

The price on the higher time frame failed to break a key strong support around the 0.28226 USDT mark, and posted an engulfing bullish pattern which led to a reversal to the upside. The price is still in a clear upward movement where several bullish bars has been posted above the strong support level.

REN/USDTPERP Medium-Term Trend: Bullish

1-Hour Chart:

On the lower time frame, the asset is bouncing inside an ascending channel pattern where we expect a lower correction to the strong support that coincides with the lower end of the channel. This could cause a reversal and a move upward again in the same direction of the main trend.

Signal Idea:

Buy Limit Order @ 0.32684

TP 1 @ 0.35939

TP 2 @ 0.36140

Stop Loss @ 0.31606

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Your email address will not be published.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!