🟢 $OUSDT — possible bounce setup


Question: is this structure exhaustion, or just a temporary slowdown?

Price had a strong 1H bearish structure: each candle updated the low, while highs stayed below previous highs.
The latest closed 1H candle failed to make a new low, while the previous high is still holding.
If price updates the last low again, the bounce idea is cancelled. Stop is below the last low.
Fibonacci range: full 1H drop move, from max high to min low of the whole series.
Plan by Fibonacci retracement:Entry zone: 0.6518 - 0.640719Stop: 0.6296382TP1 Fib 0.236: 0.6812624TP2 Fib 0.382: 0.7124188TP3 Fib 0.5: 0.7376TP4 Fib 0.618: 0.7627812
Series: 6 candlesMove: 25.28%Timeframe: 1HExtreme candle wick filter: max 3.5%
Educational setup example. Not financial advice.
post-image
This page may contain third-party content, which is provided for information purposes only (not representations/warranties) and should not be considered as an endorsement of its views by Gate, nor as financial or professional advice. See Disclaimer for details.
  • Reward
  • Comment
  • Repost
  • Share
Comment
Add a comment
Add a comment
No comments
  • Pinned