VeChain (VET) downside risk remains high, but the oversold indicators in the oscillator suggest that risk is limited. A strong upside opportunity is likely to take it to a new all-time high (ATH).

The apprenticeship price could shock the bears with a sharp rise despite tempting short order opportunities

The VET price has two trading setups on its Caro chart (point and figure) $ 0.001 / 3-box reversal. The first is a hypothetical long entry with a buy stop at $ 0.132, a stop loss at $ 0.128, and a profit target of $ 0.15. This entry will break out of the double top and downtrend lines (red line).

VET / USD Caro chart $ 0.001 / 3 box inversion | Source: TradingView

This long trade idea becomes invalid if the short idea is activated in the following chart.

A short order set up for VET is a sell stop order at $ 0.124, a stop loss at $ 0.128, and a profit target of $ 0.11. Short entry is a very attractive setup. The $ 0.124 entry point was triggered by a break below the recent lows and confirmed a strong bearish pattern known as the bullish fakeout.

VET / USD Caro chart $ 0.001 / 3 box inversion | Source: TradingView

However, the daily Optex Bands oscillator shows that VET is oversold which does not favor the continuation of the downtrend. The short setup will be invalidated if the VET increases to $ 0.132.

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Disclaimer: This article is for informational purposes only, not investment advice. Investors should research carefully before making a decision. We are not responsible for your investment decisions.

Mr. Teacher

According to FXStreet

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