Does anyone have the double advantage for FET on their radar at all?
Structurally, I like the current chart picture. We are running in the dark‑blue structure and have simultaneously reached the BC correction level. The bearish move has already worked through its 161.8% target. Statistically, we often see at least a technical counter‑reaction from such areas.
What I absolutely do not like, however, is the surrounding environment. The Point of Control was lost to the downside and all relevant EMAs and SMAs are currently above the price. That makes an otherwise interesting setup clearly less attractive.
This is also a good example of why I never look at just a single system. The chart structure leans more toward a recovery, but the volume profile and the moving averages dampen that probability. If the Point of Control as well as the EMAs and SMAs were below the price, I would consider the setup considerably higher quality.
If the counter‑reaction still comes, the first interesting target range for me is between $0.1833 and $0.1859.
Exactly these kinds of constellations show why confluence ultimately matters more than any single signal. If you enjoy insights like this and want to learn more about the combination of chart analysis, volume profile and market structure, feel free to leave some interaction and follow me.
