$SIREN open short now

$SIREN – Shorting the sharp rebound into supply

Set up short $SIREN
Entry: 1.60 – 1.66
TP1: 1.35
TP2: 1.00
TP3: 0.65
SL: 1.84

Description:
After a deep selloff, price bounced back aggressively from the 0.7 area into the 1.6 zone in a very short time. A rebound this steep often runs into profit-taking pressure, especially when price is pushing straight into an old supply area without building a proper base first.

What stands out to me is that this move looks more like a squeeze than a sustainable reversal. The push was strong, but once price reached the 1.60–1.66 area, momentum started cooling off and the candles no longer looked as explosive as the first leg up. If rejection shows up around entry, this short setup looks clean for a pullback toward lower levels.

I prefer the short side here because after a vertical rebound, the market usually needs to give some of that move back. If price breaks cleanly above 1.84, the supply zone is no longer holding and the short idea loses its edge

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