$WIF /USDT – Rejection from Resistance: Short Trade Setup
WIF just printed a sharp wick above 0.852 and faced immediate rejection, indicating strong selling pressure from local resistance. The 15-min chart shows bearish signs forming with a potential pullback on the cards.
Entry Price: 0.851
Target 1: 0.843
Target 2: 0.836
Target 3: 0.830
Stop Loss: 0.859
Risk Management Note:
This setup offers a high R:R if entered correctly. Stick to your position sizing rules and never over-leverage into trades showing initial rejection. Adjust your stop-loss accordingly if price begins consolidating tightly near entry.
Pro Tip for Followers:
Wick rejections near resistance are a reliable signal of buyer exhaustion. Always combine such setups with volume confirmation or a break of intraday structure to increase trade confidence.
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