Trading Plan Short $RAVE
$RAVE just wicked into 0.2832 resistance after a 12.95% dump yesterday.
Entry: $0.2800-$0.2880
Stoploss: $0.2970
Targets: $0.2720 / $0.2600 / $0.2450
RAVE is printing a clean distribution wick into 0.2832 resistance, failing to reclaim the 1H EMA21. The 1H BB is squeezing tightly after a 29.4% width contraction, setting up for a move. Retail longs are extremely crowded at 4.43 L/S ratio, ready to be flushed as OI bleeds. This looks like a perfect fade of a local top before the next leg down. Reclaim $0.2970, short voided.
#BinanceSquareTalks
Trade $RAVE here 👇
$RAVE just wicked into 0.2832 resistance after a 12.95% dump yesterday.
Entry: $0.2800-$0.2880
Stoploss: $0.2970
Targets: $0.2720 / $0.2600 / $0.2450
RAVE is printing a clean distribution wick into 0.2832 resistance, failing to reclaim the 1H EMA21. The 1H BB is squeezing tightly after a 29.4% width contraction, setting up for a move. Retail longs are extremely crowded at 4.43 L/S ratio, ready to be flushed as OI bleeds. This looks like a perfect fade of a local top before the next leg down. Reclaim $0.2970, short voided.
#BinanceSquareTalks
Trade $RAVE here 👇
