$CGPT | 30M ANALYSIS 📊 Quick trade
- My main expectation is that the price holds above the support of 0.1041-0.1037 and makes a move towards the resistances of 0.1057 and 0.1063. In other words, I am expecting a long movement.
- If 0.1057 breaks, we could see a rapid rise up to 0.1063 and 0.1073.
- However, if the price drops below 0.1037, I expect it to wick into the 0.1023 FVG area first, and if there isn’t a quick reversal from there, the risk of a drop to 0.0987 increases.
- My expected long setup: If the price holds in the range of 0.1041-0.1037, and then a bullish candle formation (e.g., pin bar, engulfing, market structure break on a lower time frame) occurs, a long position will be opened targeting 0.1057 and 0.1063. The swing low level will be looked at for the stop-loss.
- My expectation is that if the price clearly breaks below 0.1037 and stays there, I will abandon the bullish scenario.
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