FET · 1H · DOWNTREND
The previous short setup from my last read has partially delivered — Target 1 at 0.1434 was reached on touch, with price now sitting at 0.1427, below that cluster. The rally into the 0.1515–0.1525 entry zone never materialised, so the two-step confirmation never triggered in the technical sense, but the structural thesis continued to work lower regardless. Target 2 at 0.1378 is still on the map, and with price now grinding just above the dense liquidation cluster at 0.1410, that target remains the live objective.
The structure here is unambiguously bearish: lower highs and lower lows across this entire window, the daily trend confirmed down, and price now pressing into new lows on this chart. The 0.1410 cluster directly below is thin air between here and 0.1280. I'm not chasing a fresh short at the current price — the move has already extended significantly — but the short bias stays intact until something structurally changes.
SHORT (CONDITIONAL) SCENARIO
Confirmation
0.1460
On a rally to the 0.1460–0.1475 zone, a 1H close back below 0.1455 confirms the rejection; entry at that close.
Invalidation
0.1510
1H close above 0.1510 — reclaims the EMA cluster and breaks the sequence of lower highs; stop distance = 0.1510 − 0.1455 = 0.0055.
Target 1
0.1307
Dense liquidation cluster below; reward distance = 0.1455 − 0.1307 = 0.0148; R/R = 0.0148 / 0.0055 = 2.7:1.
Target 2
0.1280
Next dense liquidation cluster, deeper structural objective.
Resistance: 0.1460–0.1475 (two-step entry zone, prior support flipped) / 0.1510 (invalidation, EMA cluster)
Support: 0.1410 (dense liquidation cluster directly below) / 0.1307 (dense cluster, Target 1) / 0.1280 (dense cluster, Target 2)
This is not financial advice. Content is AI-generated.