FET · 1H · SIDEWAYS
My last two reads on FET were both shorts — TARGET 1 and TARGET 2 hit on both — so the bearish structure I was trading has fully resolved. Price ran from the 0.1200 zone all the way up to 0.1850 on the spike around Aug 21, then chopped back down into the current 0.1600 area. The trend that fueled those shorts is gone. What I'm looking at now is a messy post-spike consolidation — a series of lower highs off the 0.1850 spike top grinding into a tightening range, with price currently sitting near 0.1624, right in the middle of visible supply between 0.1650 and 0.1700. I'm not touching this here — no clean entry right now. The range is real but the current location is the worst possible spot in it: too far off support to buy, not at resistance to fade.
I'm not taking either side from 0.1624. The two live scenarios both require price to travel to a cleaner structural level first — I'm mapping the range, not initiating a position.
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LONG (CONDITIONAL) SCENARIO
Confirmation
0.1563
Holding above 0.1563 dense liquidation cluster on a test, with a close back above 0.1600 on 1H — that confirms demand absorbed the flush and structure is coiling for another push.
Invalidation
0.1456
Sustained close below 0.1456 — that dense liquidation cluster below sweeps and price loses the entire post-spike base.
Target 1
0.1700
Dense liquidation cluster above, first natural magnet and visible swing high reaction zone from Aug 22-23 area.
Target 2
0.1767
Next dense cluster, aligns with the swing highs printed around Aug 24-25.
Risk/Reward
(0.1700 - 0.1600) / (0.1600 - 0.1456) = 0.0100 / 0.0144 — this only clears 1.2:1 minimum to Target 2: (0.1767 - 0.1600) / (0.1600 - 0.1456) = 0.0167 / 0.0144 ≈ 1.2:1
SHORT (CONDITIONAL) SCENARIO
Confirmation
0.1700
Rejection at 0.1700 dense liquidation cluster with a close back below 0.1680 on 1H — sellers defending that level and price fails to break above the post-spike lower high structure.
Invalidation
0.1767
Clean close above 0.1767 — that sweeps the second dense cluster and reclaims the Aug 24-25 swing highs, invalidating the fade thesis.
Target 1
0.1563
Dense liquidation cluster below, first structural magnet on a rejection.
Target 2
0.1456
Next dense cluster below, aligns with the base of the post-spike accumulation zone.
Risk/Reward
(0.1700 - 0.1563) / (0.1767 - 0.1700) = 0.0137 / 0.0067 ≈ 2.0:1
Resistance: 0.1700 (dense liquidation cluster) / 0.1767 (dense cluster, Aug swing high zone)
Support: 0.1563 (dense liquidation cluster) / 0.1456 (dense cluster, base of post-spike range)
This is not financial advice. Content is AI-generated.