$SYN has lost momentum after a strong rally and is now trading beneath short-term resistance. The recent bounce appears corrective, with sellers attempting to regain control.
Trade Plan (SHORT)
Entry: 0.1335 – 0.1355
Stop Loss: 0.1405
Take Profit 1: 0.1285
Take Profit 2: 0.1235
Take Profit 3: 0.1175
After reaching a local high near 0.1479, price has formed a lower-high structure and is struggling to reclaim the 25 MA on the 15-minute chart. The recovery lacks strong follow-through, suggesting buyers are weakening while sellers continue defending the resistance zone. Unless $SYN breaks decisively above 0.1405, the path of least resistance remains to the downside, with liquidity resting below recent swing lows.
$SYN
Trade Plan (SHORT)
Entry: 0.1335 – 0.1355
Stop Loss: 0.1405
Take Profit 1: 0.1285
Take Profit 2: 0.1235
Take Profit 3: 0.1175
After reaching a local high near 0.1479, price has formed a lower-high structure and is struggling to reclaim the 25 MA on the 15-minute chart. The recovery lacks strong follow-through, suggesting buyers are weakening while sellers continue defending the resistance zone. Unless $SYN breaks decisively above 0.1405, the path of least resistance remains to the downside, with liquidity resting below recent swing lows.
$SYN