Something feels off about this one.
$M
has climbed 7.20% to $1.16. I am not convinced.
The Long/Short ratio is 1.28x, meaning retail traders are heavily long – a classic contrarian signal. The funding rate is +1.0000%, maxed out. Longs are paying a premium to hold, and that is expensive to sustain. The stop-hunt probability is 52%, with sell-side liquidity targeted and a liquidation cluster. Whale activity shows 71% buy pressure against 29% sell pressure – the buys are higher, but I see this as distribution. Whales are buying to push the price up, then they will dump on retail. The price is approaching $1.18 resistance. Historically, when M has seen similar setups, the average pullback has been around 20-25%. If sellers step in, we could see a drop to $0.90-$0.95.
Trading Plan:
· Entry: $1.14 - $1.16
· SL: $1.20
· TP1: $1.08
· TP2: $1.00
· TP3: $0.90
What is your take on this one?
$M
has climbed 7.20% to $1.16. I am not convinced.
The Long/Short ratio is 1.28x, meaning retail traders are heavily long – a classic contrarian signal. The funding rate is +1.0000%, maxed out. Longs are paying a premium to hold, and that is expensive to sustain. The stop-hunt probability is 52%, with sell-side liquidity targeted and a liquidation cluster. Whale activity shows 71% buy pressure against 29% sell pressure – the buys are higher, but I see this as distribution. Whales are buying to push the price up, then they will dump on retail. The price is approaching $1.18 resistance. Historically, when M has seen similar setups, the average pullback has been around 20-25%. If sellers step in, we could see a drop to $0.90-$0.95.
Trading Plan:
· Entry: $1.14 - $1.16
· SL: $1.20
· TP1: $1.08
· TP2: $1.00
· TP3: $0.90
What is your take on this one?