$SPCX - Pullback SHORT Setup, But Stay Light
Price looks strong on the surface, but the internals are telling a different story. Leaning SHORT on a pullback into resistant
The higher timeframe structure is weak. Both 4H and 1H are trading below EMA50 & EMA200 - that's a clear downtrend. Momentum is also with sellers, 4H RSI at 37.5.
Overall signal score is 3/11 short vs 2 long, so not a high conviction trend play - it's a tactical pullback short in a range.
The daily is just ranging, not breaking out. And 15m ADX at 26.6 shows buyers are still driving short-term momentum. That's why this is light size only.
Not chasing strength, just waiting for this pullback to exhaust near the entry zone before looking for downside continuation.
Is this retrace enough to get short filled?
_Not financial advice. Trade your own plan._
Price looks strong on the surface, but the internals are telling a different story. Leaning SHORT on a pullback into resistant
The higher timeframe structure is weak. Both 4H and 1H are trading below EMA50 & EMA200 - that's a clear downtrend. Momentum is also with sellers, 4H RSI at 37.5.
Overall signal score is 3/11 short vs 2 long, so not a high conviction trend play - it's a tactical pullback short in a range.
The daily is just ranging, not breaking out. And 15m ADX at 26.6 shows buyers are still driving short-term momentum. That's why this is light size only.
Not chasing strength, just waiting for this pullback to exhaust near the entry zone before looking for downside continuation.
Is this retrace enough to get short filled?
_Not financial advice. Trade your own plan._