LITE is looking super weak right now, just broke down from a key level. Setting up for a potential short trade with a high confidence level of 94%.
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๐ด LITE SHORT ๐
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๐ Entry Range: $840.6385 โ $842.3215
๐ Stop Loss: $866.7244 (-3.0%)
๐ฏ TP1: $828.8578 (+1.5%)
๐ TP2: $799.4060 (+5.0%)
โก R/R Ratio: 1:1.7
๐ Confidence: 94%
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The market structure break, fair value gap, and order block are all lining up in our favor, with a nice confluence of these signals at the point of interest. This setup has all the makings of a solid short trade, especially with the CHoCH and FVG signals firing off. The OB is also looking pretty robust, adding to our conviction.
With a 3.0% stop loss, this trade has a relatively tight leash, so we'll likely want to keep leverage in check, probably around 2-3x to keep risk manageable.
If we do get a good move in our direction, taking some profit off the table at the first target could be a good idea, just to lock in some gains and ride out the rest of the trade with less risk.
Not financial advice โ always manage your own risk ๐
#LITEUSDT $LITE #SMC #Write2Earn #Binance