Rejection from local resistance showing downside pressure
$MERL SHORT
Trade Plan
Entry Zone
$0.0340 to $0.0355
Stop Loss
$0.0378
Take Profit Targets
TP1 $0.0315
TP2 $0.0290
TP3 $0.0265
Why this setup
Clear rejection near $0.036 to $0.037 resistance zone
Lower high forming on 1H timeframe
Selling pressure increasing after sharp push up
Potential pullback towards previous demand zone
Buy and Trade $MERL
MERLUSDT
Perp.
0.0375
+2.43%