PENDLE / USDT Analysis for Potential Swing Trade. With detailed explanation.

https://preview.redd.it/rjkm1o4lbv6d1.png?1263&format=png&auto=webp&s=fe54baf1e388f3cce6ff91cfef23c2ba42dd4176

As we can see on the attached chart that we are bullish in daily timeframe and 4 hour timeframe. At the same time price is in Premium zone on daily. Means from here price might potentially go in the demand zones below to collect orders in order to push up (Since we are bullish in daily).

Price is already in premium zone on daily chart. If price reaches the 4 hour supply zone as shown in the chart, then price will also be in the premium zone on lower timeframe. If price takes rejection from this supply zone and creates a trend shift towards the bottom with a bearish candle, a potential A+ Short entry will be generated here.

First safe target will be 4 hour swing low as shown in the chart. Second target will be the demand zone lying below 4 hour swing low. Profit range till target 1 is around 30%-32% here which is decent with a small stoploss.

Disclaimer: This is just a trade idea based on my understanding of price action for educational purpose. I may be wrong or I may be right. Market works based on probability. Anyone who wishes to take trade in Pendle/Usdt must do their own analysis as well before entering.