FRONTUSD (FRONTIER) - POTENTIAL BUY ENTRY
ANALYSIS 🔎
- FRONTUSD was bounded in the falling wedge (FW-1) pattern.
- Price brokeout above the falling wedge's (FW-1) resistance.
- The market then retraced and is testing the flip horizontal support (FHS).
- There's a relatively high concentration of buyers at the test zone.
- The retracement is bounded another falling wedge pattern (FW-2).
- A falling wedge pattern is a bullish reversal pattern.
- There's a breakout potential.
BUY ENTRY ⬆️
- Breakout above the falling wedge's (FW-2) resistance and horizontal resistance level (R1).
TARGETS 🎯
- Horizontal resistance level (R2).
- Horizontal resistance level (R3).
SETUP INVALIDATION ❌
- Breakdown below the falling wedge's support.
- FRONTUSD was bounded in the falling wedge (FW-1) pattern.
- Price brokeout above the falling wedge's (FW-1) resistance.
- The market then retraced and is testing the flip horizontal support (FHS).
- There's a relatively high concentration of buyers at the test zone.
- The retracement is bounded another falling wedge pattern (FW-2).
- A falling wedge pattern is a bullish reversal pattern.
- There's a breakout potential.
BUY ENTRY ⬆️
- Breakout above the falling wedge's (FW-2) resistance and horizontal resistance level (R1).
TARGETS 🎯
- Horizontal resistance level (R2).
- Horizontal resistance level (R3).
SETUP INVALIDATION ❌
- Breakdown below the falling wedge's support.
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