$ON USDT – Original long idea invalidated, stop hit
Earlier setup called for a long from 0.16180–0.16250 with SL 0.15980 targeting 0.16450 / 0.16680 / 0.17200.
Bid strength (63%) and a 1m momentum shift suggested a bounce, but the 4h structure remained bearish – a classic dead cat bounce pattern noted at the time.
Current price: ~0.1555–0.1560, well below the stop.
The 15m swing low at 0.16000 was taken out, confirming the rejection. Volume on the bounce was declining, which often precedes a breakdown.
What now?
· No long entries until we see a clean reclaim above 0.16200 with volume.
· Next support zone: 0.14500 (liquidity pool mentioned earlier).
· High volatility continues (+25% daily range) – manage risk accordingly.
Key takeaway: The trade didn’t work, but respecting the stop kept losses small. Waiting for confirmation above 0.16400 (as originally noted) would have avoided the false break. On to the next setup.
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