Honestly, I’ve been watching this short setup for quite a while. When the price rebounded back up to that resistance zone, the 4-hour chart clearly started to weaken—several consecutive candlesticks showed long upper wicks, which indicates continuous selling pressure. The daily chart is still in a range-bound pattern, but this time the rebound lacked volume. The 15-minute RSI has dropped to around 33, which looks a bit low, but the key point is that the rebound strength can’t keep up. The sell orders are real—serious liquidation. Volume is only about 0.14 times the average, but the number of trade fills versus the expected gap is much larger. A down move on contraction is often more reliable than one on expansion, suggesting no one wants to take the orders.
I’m used to pressing in at the resistance level and waiting for acceleration. Here, my stop-loss is placed above the structural invalidation point. The risk-reward ratio works out as acceptable. The risk is if price directly breaks through here—then I’ll admit the mistake and exit; I won’t hold onto the position stubbornly. For execution, wait for the rebound to the upper edge of the range before entering. Don’t chase the decline—if you get too urgent, you’re more likely to get stuck at the top.
Also, keep an eye on this: if, later on the 15-minute timeframe, you see a sideways consolidation on decreasing volume, that could be one of the take-profit signals—don’t get greedy for the final tail end.
🔴 Trading direction: Short
📍 Entry range: 0.01186 – 0.01207
🛑 Stop-loss: 0.01347
🎯 Take-profit 1: 0.01083
🎯 Take-profit 2: 0.01007
🎯 Take-profit 3: 0.00894
$FOGO
Click below to trade👇👇👇
I’m used to pressing in at the resistance level and waiting for acceleration. Here, my stop-loss is placed above the structural invalidation point. The risk-reward ratio works out as acceptable. The risk is if price directly breaks through here—then I’ll admit the mistake and exit; I won’t hold onto the position stubbornly. For execution, wait for the rebound to the upper edge of the range before entering. Don’t chase the decline—if you get too urgent, you’re more likely to get stuck at the top.
Also, keep an eye on this: if, later on the 15-minute timeframe, you see a sideways consolidation on decreasing volume, that could be one of the take-profit signals—don’t get greedy for the final tail end.
🔴 Trading direction: Short
📍 Entry range: 0.01186 – 0.01207
🛑 Stop-loss: 0.01347
🎯 Take-profit 1: 0.01083
🎯 Take-profit 2: 0.01007
🎯 Take-profit 3: 0.00894
$FOGO
Click below to trade👇👇👇