$PENDLE $PENDLE 1h | Market Structure | finorabot.com
- I expect price action to RISE in the short-term as long as the 1.205–1.195 demand zone holds, especially with many higher timeframe indicators turning bullish and price sitting just above equilibrium.
- Example long setup: Wait for price to dip into 1.205–1.195 with a bullish reversal signal (e.g., pin bar, bullish engulfing, or a market structure shift on 5m/15m). Enter at 1.210–1.215, take profit at 1.304 (first TP), then 1.334 if strength continues. Place your stop-loss just below the swing low at 1.183.
- Example breakout scenario: Wait for price to break and close above 1.304, then retest the level with a bullish confirmation (like a higher low or pin bar), enter on retest, and target 1.334 and 1.385. Stop-loss should be below the prior swing low of the entry structure.
- If price loses 1.195 with strong bearish volume, my bias would switch to bearish, targeting 1.150 and 1.120, so watch for a confirmed lower high below 1.195 to consider a short.
- For any trade, always wait for confirmation from lower timeframes (such as a clear reversal pattern or a strong bullish/bearish candle).
📊 Need a second opinion before trading?
Get a free AI analysis on Finora → tinyurl.com/FinoraBot
#PENDLE