Trading Plan Long $RE
$RE just swept 0.5631 support and is attempting a reclaim after a nasty 24h dump.
Entry: $0.563-$0.584
Stoploss: $0.545
Targets: $0.603 / $0.645 / $0.705
RE dumped hard, flushing all the weak longs from yesterday. We saw a clean sweep of the 0.5631 support on the 1h, and now buyers are stepping in. The L/S ratio is retail short and top traders are long, which is a nice setup for a bounce. OI is down 5% from the dump, so a lot of the weak hands are out. If RE loses $0.545, this bounce idea is dead.
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$RE just swept 0.5631 support and is attempting a reclaim after a nasty 24h dump.
Entry: $0.563-$0.584
Stoploss: $0.545
Targets: $0.603 / $0.645 / $0.705
RE dumped hard, flushing all the weak longs from yesterday. We saw a clean sweep of the 0.5631 support on the 1h, and now buyers are stepping in. The L/S ratio is retail short and top traders are long, which is a nice setup for a bounce. OI is down 5% from the dump, so a lot of the weak hands are out. If RE loses $0.545, this bounce idea is dead.
#BinanceSquareTalks
click here to trade 👇