ONDO is showing signs of exhaustion after a failed breakout attempt, with price currently hovering near a crucial support zone. This could be the perfect storm for a short setup to unfold.
🔴 $ONDO SHORT 📉
Entry → $0.352647-$0.353353
Stop → $0.363590 (-3.0%)
TP1 → $0.347705 (+1.5%)
TP2 → $0.335350 (+5.0%)
R/R 1:1.7 • Confidence 65%
The CHoCH signal just fired, indicating a market structure break, while CVD is confirming the direction with increasing volume on the sell side. Additionally, the presence of a fair value gap and an order block overlapping with a point of interest confluence adds to the bearish case, making this ONDO short setup compelling. The overall structure suggests a high likelihood of a downward move.
A 3.0% stop loss might be considered relatively tight given the current volatility, but with the right leverage, such as 2x or 3x, the risk-reward ratio of 1:1.7 becomes more manageable.
Considering the risk-reward ratio, it might be wise to take partial profit at the first target to lock in some gains and then let the rest of the position ride, adjusting the stop loss accordingly to maximize returns.
Not financial advice — always manage your own risk 🙏
$ONDO #ONDOUSDT #SMC #TradingSignals #Write2Earn
🔴 $ONDO SHORT 📉
Entry → $0.352647-$0.353353
Stop → $0.363590 (-3.0%)
TP1 → $0.347705 (+1.5%)
TP2 → $0.335350 (+5.0%)
R/R 1:1.7 • Confidence 65%
The CHoCH signal just fired, indicating a market structure break, while CVD is confirming the direction with increasing volume on the sell side. Additionally, the presence of a fair value gap and an order block overlapping with a point of interest confluence adds to the bearish case, making this ONDO short setup compelling. The overall structure suggests a high likelihood of a downward move.
A 3.0% stop loss might be considered relatively tight given the current volatility, but with the right leverage, such as 2x or 3x, the risk-reward ratio of 1:1.7 becomes more manageable.
Considering the risk-reward ratio, it might be wise to take partial profit at the first target to lock in some gains and then let the rest of the position ride, adjusting the stop loss accordingly to maximize returns.
Not financial advice — always manage your own risk 🙏
$ONDO #ONDOUSDT #SMC #TradingSignals #Write2Earn