$EUL Short Setup After Sharp Rejection
Entry: $7.95 – $7.90
Target 1: $7.74
Target 2: $7.55
Target 3: $7.44
Stop-Loss: $8.23
$EUL faced a strong rejection from the $8.80 zone, followed by a clear lower-high formation. Sellers have regained control, pushing price back below the $8.00 mark. The structure suggests continued downside toward the next support levels if momentum persists.
Risk Management: Allocate 3–5% of portfolio capital to this trade. After achieving Target 1, shift SL to entry and trail accordingly.
Pro Tip: Watch for a 15m candle close below $7.85 to confirm breakdown strength—further decline may accelerate toward the $7.40 range.