PEOPLE Reversal Setup at Channel Bottom | 100% Potential Return

Dec 22, 2024

BINANCE:PEOPLE/TETHERUSHTTPS - 4H TIMEFRAME 🎯

SETUP STRUCTURE:
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✦ ENTRY: $0.03578
✦ TARGET: $0.07380
✦ STOP LOSS: -3% Below Entry
✦ RISK:REWARD: 35:1
✦ TIMEFRAME: 4H
✦ POSITION TYPE: SWING TRADE

TECHNICAL CONFLUENCE:
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1. PRICE ACTION:
• Descending Channel Bottom Test
• Multiple Timeframe Support Zone
• Previous Strong Demand Area

2. MARKET STRUCTURE:
• 6-Month Downtrend Exhaustion
• Potential Double Bottom Formation
• Clear Volume Profile Support

3. KEY CATALYSTS:
• Oversold RSI Divergence
• High-Volume Accumulation Zone
• Strong Historical Support Level

TRADE MANAGEMENT:
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ENTRY STRATEGY:
• Scale in between $0.03578-$0.03600
• Initial position: 40% of total size
• Add on first confirmation: +30%
• Final add on trend confirmation: +30%

TAKE-PROFIT STRATEGY:
TP1: $0.05000 (25% of position)
TP2: $0.06200 (50% of position)
TP3: $0.07380 (25% of position)

INVALIDATION:
• Break below support with volume
• Loss of 4H market structure
• Failure to hold entry zone after 4H

RISK DISCLOSURE:
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Trading involves substantial risk of loss. This analysis is for educational purposes only and should not be considered as financial advice. Always conduct your own research and trade responsibly.

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Tags: TradingView

Jan 21

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UPDATE FOR PEOPLE

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