META Technical Analysis and Trade Idea

#META has experienced a remarkable bullish surge. However, the 1D timeframe indicates potential weakness as we see the trend ranging sidweays creating lower highs. We are considering a possible retracement towards the 50-61.8% Fibonacci zone potentiall trading through the gap evidenced on the chart. This area typically attracts increased liquidity due to sell stops, potentially encouraging long positions from institutional traders.

Trading Considerations Meta Platforms:

Counter-Trend Short: Explore a short entry near the current price level, strategically placing a stop-loss above the recent highs. Maintain a 1:1 risk-reward ratio for this trade.

Fibonacci Buy: Target a potential buy opportunity close to the 61.8% Fibonacci retracement level. This aligns with the possible accumulation of long positions by larger market players. Utilize a stop-loss below the recent swing low, and define target levels as shown on the screenshot.

Disclaimer: This analysis offers my personal market interpretation for educational purposes and should not be considered direct financial advice. Always prioritize your own independent research and thorough risk assessment before making any trading decisions.