Trading Plan Short $ALLO
$ALLO rejected the 0.31143 resistance after a brief push, signaling potential distribution.
Entry: $0.30800-$0.31200
Stoploss: $0.31750
Targets: $0.30200 / $0.29200 / $0.28000
ALLO is showing classic distribution after hitting 0.31143 resistance, with a crowded top trader long ratio of 1.8. The 1H EMA50 is acting as a dynamic resistance, while taker sell volume dominates the order flow. OI is bleeding slightly, suggesting smart money exiting. The current BB squeeze indicates a move is coming, likely down given the selling pressure and crowded longs. Reclaim 0.31750, short voided.
Trade $ALLO here 👇
$ALLO rejected the 0.31143 resistance after a brief push, signaling potential distribution.
Entry: $0.30800-$0.31200
Stoploss: $0.31750
Targets: $0.30200 / $0.29200 / $0.28000
ALLO is showing classic distribution after hitting 0.31143 resistance, with a crowded top trader long ratio of 1.8. The 1H EMA50 is acting as a dynamic resistance, while taker sell volume dominates the order flow. OI is bleeding slightly, suggesting smart money exiting. The current BB squeeze indicates a move is coming, likely down given the selling pressure and crowded longs. Reclaim 0.31750, short voided.
Trade $ALLO here 👇