30min long elliot wave setupAfter a nice 5 wave rally, it seems like price has completed or almost completed a nice corrective bottoming structure. Price ideally needs one more low on the lower time frame count to complete the structure even though it has fulfilled the minimum requirements for this correction. Price soon has good chances to rally from this black fibonacci area to at least 0.88 level in a larger third wave given the complete corrective bottoming structure after five wave rally.
HOOKUSDT.P trade ideas
HOOKusdtHOOK short setup.
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Hooked Protocol (HOOK) forming a bullish BAT for the next pumpHi dear friends, hope you are well and welcome to the new trade setup of Hooked Protocol (HOOK) with US Dollar pair.
Recently we caught almost 11% pump of HOOK as below:
Now on a 4-hr time frame, HOOK is about to complete a bullish BAT move for the next price reversal.
Note: Above idea is for educational purpose only. It is advised to diversify and strictly follow the stop loss, and don't get stuck with trade.
🔥 HOOK Crazy Break Out PotentialHOOK has been trading inside a falling wedge for 7 months now. In my view, a bullish break out of this pattern could lead to a new bull-trend for this token.
Naturally, a bullish BTC will help. Also, this trade could play out over the long-term, so no quick money here. Still, a risk-reward of 36 is very respectable.
I'm waiting for a daily candle to close above 1.08 to make an entry, stop just below 1.00, target at 4.00.
HOOK 4HThe hook has clear support with incoming limits and markets to hold and pump the price since August 5th. The resistance at 0.98 can break soon, and the price will move only up. Let's see if this happens.
FOR SURE, the hook could certainly accumulate further.
BTC also seems positive on the 4H chart as we can see the support of limits and a current local breakout.