Market Context: FET appears to be forming a bottom on higher time frames, signaling a potential reversal. The $1.75 level is key, and a breakout followed by a retest could offer an ideal entry point.
Trade Details: Entry Zone:
Around $1.75 (post-breakout and retest). Take Profit Targets:
Target 1: $1.90 Target 2: $2.30 Stop Loss:
Below $1.64 Rationale: Bottoming Structure: The higher time frame price action indicates potential accumulation, with $1.75 acting as a pivotal level for a shift in market structure. Confirmation: Waiting for a breakout and retest ensures that the entry aligns with bullish momentum. Risk Management: Placing a stop loss below $1.64 minimizes downside risk while allowing the trade room to breathe. Execution Notes:
Monitor volume on the breakout to confirm conviction. Adjust take profit levels based on price action and market sentiment.