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SRM/USDTPERP Potential Upward Movement

SRM/USDTPERP Long-Term Trend: Bullish

Key Resistance Levels: 9.745, 10.441, 11.722.

Key Support Levels: 8.634, 8.134, 6.499.

Daily Chart:

The price on the higher time frame failed to break the 8.634 USDT mark where a hammer candlestick was formed near the strong support. This led to a move a higher and we expect further movement to the upside in the coming hours.

SRM/USDTPERP Medium-Term Trend: Bullish

1-Hour Chart:

On the lower time frame, the price succeeded to break the bearish channel to the upside by the help of the double bottom formation. A lower correction is expected to the highlighted zone before a new bullish impulsive wave toward the target profit.

Signal Idea:

Buy Limit Order @ 8.660

TP 1 @ 9.710

TP 2 @ 10.441

Stop Loss @ 8.296

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.

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