$VELVET (1S) - Long-term Moving Average Rebound


Bias: Buy
Entry (Zone): 0.0952 - 0.0960
Targets:
TP1: 0.0972
TP2: 0.0988
TP3: 0.1010
Stop Loss: 0.0927
Why this setup:
I am looking for a continuation of the rebound after the recent sell-off, as the price still remains near the local support area on the hourly chart. The movement has room to return to the moving average first, reaching the nearby resistance zone, and I prefer to buy on the dip here rather than chase strength higher.
VELVET-4.78%
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