$FET On the cusp of forming a Cup & Handle as bullish days peeps head 📈
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The volatility prevailed for quite a long period of time as it broke below the $ mark and hovered in between the $0.8-1zone for a couple of weeks.
But the price action has some different plans by the way and it showed up after mid August. With big booming weekly candles hitting resistance and then coming for a retest, built a solid foundation for the roads ahead.
After getting rejected from the key level of $1.6, it is consolidating between the $1.6-1.3 zone. With this ongoing move it is at the brink of forming a Cup & handle pattern. Although it might come down to retest $1.3 which will allow it to form the pattern perfectly.
I've mentioned the levels on the chart. And do remember this is an analysis on a weekly chart and we're still not near our entry levels. So it would be a test of patience and even after entry you have to hold for some time for those levels to hit. 🎯 Keep an eye on the S/R levels on the daily chart for further analysis.
Entry: Above $1.5
SL: $1.4
TP1: $1.75
TP2: $2
TP3 : $2.25
