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Short sell $VELVET : We expect the price to fall
Bias: Short ยท Strong
Entry: 0.0695489 โ 0.0699111
Target 1: 0.0664447 (-4.7%)
Target 2: 0.0642546 (-7.9%)
Target 3: 0.0609693 (-12.6%)
Stop loss: 0.0741103 (+6.3%)
Plan: Enter only within the range, take half the position at the first target, then move the stop loss to the entry price.
Why short? 6/12 signals agree, and there are no opposing signals.
โข Daily trend is bearish (price below EMA50 and EMA200)
โข Hourly trend is bearish (price below EMA50 and EMA200)
โข Sellers are leading the move (15-minute ADX: 30.4)
If things go as expected:
If the daily downtrend and bearish momentum on the hourly timeframe continue, the price should fall toward the first target on the hourly timeframe, while the hourly RSI indicates room for further downside.
If the plan fails:
A close above the invalidation level would signal a trend reversal, so I will exit immediately.
Where would you place the stop loss for this short trade?
The chart with all levels is below.
โ ๏ธ Disclaimer:
This content is for educational and analytical purposes only. It does not constitute financial or investment advice, nor is it a recommendation to buy or sell. Always do your own research and manage your investment risks.
Short sell $VELVET : We expect the price to fall
Bias: Short ยท Strong
Entry: 0.0695489 โ 0.0699111
Target 1: 0.0664447 (-4.7%)
Target 2: 0.0642546 (-7.9%)
Target 3: 0.0609693 (-12.6%)
Stop loss: 0.0741103 (+6.3%)
Plan: Enter only within the range, take half the position at the first target, then move the stop loss to the entry price.
Why short? 6/12 signals agree, and there are no opposing signals.
โข Daily trend is bearish (price below EMA50 and EMA200)
โข Hourly trend is bearish (price below EMA50 and EMA200)
โข Sellers are leading the move (15-minute ADX: 30.4)
If things go as expected:
If the daily downtrend and bearish momentum on the hourly timeframe continue, the price should fall toward the first target on the hourly timeframe, while the hourly RSI indicates room for further downside.
If the plan fails:
A close above the invalidation level would signal a trend reversal, so I will exit immediately.
Where would you place the stop loss for this short trade?
The chart with all levels is below.
โ ๏ธ Disclaimer:
This content is for educational and analytical purposes only. It does not constitute financial or investment advice, nor is it a recommendation to buy or sell. Always do your own research and manage your investment risks.