FET 1Hr Time Frame
📝 Technical Analysis:
FET is currently forming an ascending triangle pattern, a typically bullish continuation structure. This pattern is developing after a clear retest of the demand zone between $0.7038 and $0.7390, which previously acted as a strong support area.
✅ Key confirmations:
- Two clear rejections from the lower boundary of the ascending triangle, suggesting strong buying interest.
-A break of the previous bearish trendline, shifting market sentiment from bearish to neutral/bullish.
-Volume consolidation seen in the lower portion of the chart aligns with the tightening price action – often a precursor to breakout.
📊 Price Action Insights:
- The next potential retracement is expected around the Golden Pocket (0.618–0.65 Fib zone), which aligns with both the ascending triangle support line and demand zone – this confluence adds strength to the level.
- A breakout above the triangle's resistance, with confirmation, would present a long opportunity.
- Fair Value Gaps (FVGs) on the 4H timeframe are visible overhead at:
$0.7873 – $0.8061
$0.8401 – $0.8470
These serve as profit-taking targets for any bullish breakout trades.
📊 Volume Profile:
Using the anchored Volume Profile:
- High volume node is seen around $0.9141–$0.9889 – indicating historical resistance where price may slow down.
- Low volume node (volume gap) exists in the mid-region, implying a potential fast move through this zone if the triangle breaks upward.
❌ Invalidation Criteria:
This bullish setup is invalidated if:
- Price breaks below the ascending triangle support, followed by a loss of the swing low and demand zone below $0.7038.
This would likely lead to a continuation of the prior downtrend.
🧠 Conclusion:
The setup currently favors bulls, provided the ascending triangle holds. A confirmed breakout above resistance opens the path toward the identified FVG zones. However, risk management is crucial around the support area as a breakdown would negate the bullish structure.
