Nice breakdown! This $SXP setup has the classic signs of a short-term reversal play:
Recap of Technical Confluence:
Bearish wick rejection at $0.2252 shows a clear liquidity grab.
Market structure break on the 30m implies the bulls are losing control.
Bearish engulfing confirms the shift in momentum.
Retest of the $0.2080–$0.2090 zone (ideally with declining volume) offers a solid low-risk entry for shorts.
Short Trade Plan Highlights:
Entry Zone: $0.2065 – $0.2090 (watch for indecision or wick rejections)
Stop Loss: $0.2155 (above recent swing high)
Targets: $0.1980 (structure support), $0.1900 (deeper retrace)
Bonus Confirmation Tip:
If RSI or MACD shows bearish divergence around the retest zone, that's an added confirmation for the short setup.
If price breaks below $0.2020 with volume, it could drop quickly—great spot to scale in or tighten stop.
Let me know if you want a risk-to-reward calc or want to overlay this idea on a chart.
