📉 PENDLE 4H: Floor Broken, Watching the Retest Short
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📊 Market state: Downtrend. Price 1.786 (-3.4% 24H) sits below EMA200 2.056, and EMA50 1.893 is sloping down. Lower highs 2.04 → 1.919 → 1.861, and the 1.849 floor just gave way.
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🎯 Plan (SHORT)
Retest zone: 1.825-1.850 (old floor + EMA20 1.840 as moving resistance)
Activation: a 4H rejection candle closing below 1.815
Invalidation: a 4H close above 1.850 before activation = setup void
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🛑 Stop loss: 1.875 (above the 1.861 swing high + 0.3×ATR)
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✅ Targets
TP1 1.685 (Oct 30 base) – 1.9R
TP2 1.621 (Oct 30 wick) – 2.9R
TP3 1.510 (Aug 22 low) – 4.6R
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⚖️ Risk: size so a stop-out costs 1% of capital (stop is ~3.6% away). Confidence: medium.
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Not financial advice. DYOR.
⠀
$PENDLE $BTC
#PENDLE #CryptoTrading #TechnicalAnalysis #BinanceSquare
⠀
📊 Market state: Downtrend. Price 1.786 (-3.4% 24H) sits below EMA200 2.056, and EMA50 1.893 is sloping down. Lower highs 2.04 → 1.919 → 1.861, and the 1.849 floor just gave way.
⠀
🎯 Plan (SHORT)
Retest zone: 1.825-1.850 (old floor + EMA20 1.840 as moving resistance)
Activation: a 4H rejection candle closing below 1.815
Invalidation: a 4H close above 1.850 before activation = setup void
⠀
🛑 Stop loss: 1.875 (above the 1.861 swing high + 0.3×ATR)
⠀
✅ Targets
TP1 1.685 (Oct 30 base) – 1.9R
TP2 1.621 (Oct 30 wick) – 2.9R
TP3 1.510 (Aug 22 low) – 4.6R
⠀
⚖️ Risk: size so a stop-out costs 1% of capital (stop is ~3.6% away). Confidence: medium.
⠀
Not financial advice. DYOR.
⠀
$PENDLE $BTC
#PENDLE #CryptoTrading #TechnicalAnalysis #BinanceSquare
