Just entered a short position after price respected the descending channel and got rejected from the upper boundary.
š» Entry: $3.954
ā Stop Loss: $3.964 (above channel resistance)
ā Target: $3.910 ā $3.905 (channel support area)
š§ Reason for Entry:
Clear bearish channel formation Multiple rejections from trendline resistance Momentum shifting downside after failed bullish recovery š Plan: Ride the trend till it loses momentum or breaks out of the structure.
š Chart says it all ā potential breakout from consolidation š„
š„ ENTRY: 0.127816 (as per the green line on the chart)
š» SL: 0.124000 (as per the red line on the chart)
šÆ TP ZONE: 0.137451 (as per the top of the green box on the chart) with breakdown:
1ļøā£ TP1: 0.132000 (roughly halfway to the main TP) 2ļøā£ TP2: 0.134500 (roughly 75% to the main TP) 3ļøā£ TP3: 0.137451
š RR ~1:3.2 ā Favorable setup after a period of accumulation š š Strong support at current levels + increasing volume confirms bullish bias š§
š #BinanceTurns8 š„³ Celebrating 8 years of empowering crypto traders worldwide! šš° From humble beginnings to becoming the worldās largest exchange šš¹. Here's to innovation, freedom, and a stronger crypto future! šŖš”
š #BinanceTurns8 š„³ Celebrating 8 years of empowering crypto traders worldwide! šš° From humble beginnings to becoming the worldās largest exchange šš¹. Here's to innovation, freedom, and a stronger crypto future! šŖš”
ā° Timeframe: 1m/5m š¤ Analysis: Price has been trending down š. We're looking for a quick counter-trend scalp š. The entry is at a potential support level with a tight stop loss just below the recent lows.
š Trade Plan
ā”ļø Entry: 2973.62 š”ļø Stop Loss (SL): 2967.54
šÆ Take Profit (TP) Levels
TP1: 2982.50 Strategy: Secure initial profit š°. Consider moving your SL to breakeven! šāāļø TP2: 2991.00 Strategy: Target the area near previous resistance š§. TP3: 3000.00 Strategy: Take a good chunk of profit at this major psychological level š§ . Final TP: 3004.80 š Strategy: Let the rest ride to the finish line! š