$HFT LONG

📈 Potential Long Setup on This Coin (5-Minute Timeframe)

The coin has just completed its second corrective wave on the 5-minute chart, retracing around 60% based on the Fibonacci retracement. This aligns well with a typical Wave 2 correction.

Now, we’re potentially seeing the beginning of Wave 3, which often carries strong momentum. If we apply the Fibonacci extension in the opposite direction, the 1.618 level (marked in blue) represents the likely target for Wave 3.

🎯 I’ve also applied a green Fibonacci projection to visualize potential take-profit zones.

📉 Stop-loss is set at the bottom of the second wave (the lowest point of the correction).

📍 Entry is at the market price, as momentum is starting to build.

This setup offers a solid risk-to-reward opportunity, but remember to manage your position size and adjust based on confirmation. Let’s see how this plays out.

#CryptoTrading #Fibonacci #WaveAnalysis #LongSetup #PriceAction #TechnicalAnalysis