$FOGO printed a massive impulsive candle on the 5-minute timeframe, spiking from the $0.035 demand zone to an intraday high near $0.097 before a sharp pullback. This kind of vertical move signals aggressive speculation and liquidity grab, followed by a fast correction. Price is now stabilizing around the $0.050 area, which is acting as a short-term balance zone.
Trade Setup (Speculative Long – Scalp Only)
Entry Zone: $0.047 – $0.051
Targets:
TP1: $0.058
TP2: $0.065
TP3: $0.075
Stop Loss: $0.041
This is a high-risk, momentum-based setup due to extreme volatility. Best approach is small position sizing and quick profit booking. Failure to hold above $0.047 would invalidate the structure and likely lead to deeper retracement toward the base.
FOGO
0.04695
+34.14%
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