MONUSDT Long Setup: Retracement to Golden Pocket (1H)

Description: We are looking at a potential long opportunity on MONUSDT on the 1-hour timeframe. Following a strong bullish impulse, the price is currently correcting and approaching a key area of interest.

Technical Analysis:

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Fibonacci Retracement: The price is pulling back towards the 0.5 - 0.618 level (Golden Pocket), which often acts as strong support during a trend continuation.
Entry Zone: I am placing a buy limit around 0.0233, aiming to catch the bounce at the equilibrium point.
Risk Management: Stop Loss is placed tight at 0.02270, just below the recent swing low and the 0.618 invalidation level.
Target: Targeting the previous high and extension levels around 0.02758, offering a high Risk-to-Reward ratio (R:R).
Let's wait for the price to fill the order and resume the uptrend.



Disclaimer: This is not financial advice. Trade at your own risk.
NFA DYOR