Everyone, I’m getting ready to open a large short position on
$ON .
Take profit: 0.151552
Stop loss: 0.170448 👇
You may be wondering the obvious question: why am I shorting here?
The latest 15-minute candle closed at 0.1687. The 20-day range is 0.1054 to 0.1696, and the current price is at the 99.1st percentile. I had to check twice before I believed it.
It’s up 41.78% in seven days. This isn’t a reversal—it’s the final leg of a rotation, with no buyers stepping in to catch the bags at these highs.
Who would believe it? A coin rockets 41.78% in seven days, and I turn around and short it.
The ceiling is right at 0.1696. There’s not much room to go higher, while below it is like an elevator shaft—a whole range with nothing to support the price.
Here’s the setup: take profit is set at -10.17%, within the average daily volatility of 10.16%. The stop loss is just +1.04%, so it’s less likely to get taken out by a wick.
The risk/reward ratio is close to 9.81.
When price hits its limit, the bounce back is usually the sharpest. That’s the move I’m looking to capture—the average daily range speaks for itself.
I’m not telling anyone to follow this trade. What do you think? Let’s discuss in the comments.
$AKE $COLLECT #ON #AKE #Cryptocurrency
The above is a record of my personal trading system and observations of market data. It does not constitute investment advice.