It looks like you're sharing a bullish trade setup for $RED /USDT. Here's a breakdown:
📊 Market Structure:
The price action suggests a shift from a bearish structure to a bullish reversal. A powerful bullish engulfing candle has reclaimed key resistance, and now it's testing that level as support, which typically signals potential for continuation upward.
🔍 Price Action Insight:
Multiple Fair Value Gaps (FVGs) were filled during the rally, showing buying strength.
Price is currently testing the previous supply zone, which indicates that the buyers are overcoming selling pressure, strengthening the case for further upside.
🎯 Trade Setup:
Entry Zone: 0.6750 – 0.6920
Target: 0.7400 – 0.7450
Stop Loss: 0.6600
🔥 Why This Setup Matters:
Smart money has filled FVGs and likely trapped short positions below current price levels. This suggests momentum is shifting in favor of the bulls, with clean imbalance targets above.
⚡ Pro Tip:
For better risk-to-reward (R:R) ratios, consider entering on minor pullbacks near the edges of FVGs for more favorable entry points.
It’s definitely a setup to monitor if you're trading $RED /USDT, keeping an eye on those pullbacks and FVG zones. Are you currently trading it, or just sharing this as a potential opportunity?
