$ON Short: price poked above the old high and rolled over, target 0.2279
🔴 Short - sell 0.2572, stop level 0.2718, take profit 0.2279 (1:2)
Big pump on ON: 69% from the low in 23 hours, 64% on the day. That break of 0.25 was small (5.6%), a quick poke and a sell-off from 0.2639. Looks like a failed breakout to me. Stop 0.2718, target 0.2279. Risking 5.68% for roughly 2 times that. Not chasing if it runs away from the entry.
#ON #TradeSetup #FuturesTrading
🔴 Short - sell 0.2572, stop level 0.2718, take profit 0.2279 (1:2)
Big pump on ON: 69% from the low in 23 hours, 64% on the day. That break of 0.25 was small (5.6%), a quick poke and a sell-off from 0.2639. Looks like a failed breakout to me. Stop 0.2718, target 0.2279. Risking 5.68% for roughly 2 times that. Not chasing if it runs away from the entry.
#ON #TradeSetup #FuturesTrading
