$TRUMP Faces Rejection at $8.08 — Short Trade in Play
Price surged to $8.08 before strong selling pressure kicked in. A sharp wick and rejection candle are forming, indicating fading bullish momentum.
Current Price: $7.96
24H High / Low: $8.08 / $7.70
24H Volume: Rising intraday volatility suggests aggressive traders stepping in.
1H Chart Analysis: Price formed a fakeout above the $8.00 psychological resistance, now pulling back with lower high confirmation.
Short Trade Plan:
Entry Zone: $7.96 – $7.98
Final Target: $7.74
Stop Loss: $8.08
Why This Setup Makes Sense:
Clear supply zone at $8.00-$8.08, with repeated failures to hold above. Short bias favored as buyers fail to sustain highs.
Risk Strategy:
Use 50% position sizing and monitor for momentum breakdown confirmation below $7.90.
Take short Trade here on $TRUMP
