Good day, on the chart #PEPEUSD the conditions for purchases have been formed.
When studying the daily timeframe, we see that after the price fell, the market is currently correcting. Having constructed the Fibonacci grid, the players broke through the level of 23.6(0.00000166) *A breakout means the closing of the candle body beyond the specified level.
In this connection, buyers are determined to test the nearest Fibonacci level 38.2(0.00000219) price #PEPE $PEPE .
Let's move on to the H4 chart
We determine an upward trend, to do this we connect the latest rebounds, thereby determining the trend support level. Now copy it and set it to the last maximum:
Now our trend is ready, which means that as long as the price is in it (between the upper and lower blue zones), the price of Pepe will rise.
When making a decision to buy, keep in mind that this growth is a correction after the price fell on the daily chart.
The market's main interest for growth is to reach the level of 0.00000219; we take into account the rollback approaching the level of 0.00000200. If the price continues to rise after 0.00000219, the market will try to test the trend resistance level of the uptrend at H4. Growth target to Fibonacci level 0.5 (0.00000261).
In the event of a market reversal, it is worth closing a purchase contract under the following conditions:
Breakout of the trend support level (blue) and the level of 0.00000136 on H4. In this case, there is a high probability of the trend changing to a downward one.
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* Breakout is the closing of the candle body behind a specified level. * Rollback is a level upon reaching which, with a high probability, the price may begin to correct to the previous, breakout level or go into a deeper correction to the level of resistance or support of the main trend. You can record your profit without waiting for your goal. Use positive sl and trailing stop
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