The ONG strategy we set up earlier has now successfully taken profits this round. The real finale is often hidden beyond the trap. I’m more inclined to view this rebound at $TUT as a pullback within a bearish structure, rather than a trend reversal. On the 4-hour chart, price remains below the EMA50 and EMA200, with the moving averages in bearish alignment. The 1-hour chart has also failed to reclaim the key moving averages, so the strength and staying power of this rebound are both questionable.
The 4-hour RSI is around 43, and sellers are still in control. Volume has not expanded along with the rebound, either. In this setup, if price returns to the supply zone above, I’d rather follow the prevailing trend and look for a move lower than chase the rebound. The daily chart is still trading within a range, so position sizing should remain restrained. The closer the rebound gets to resistance, the clearer the risk-reward for shorts becomes.
The key risk is price reclaiming the important levels above—that would invalidate this thesis.
🔴 Trade direction: Short
📍 Entry range: 0.0185836 – 0.0186384
🛑 Stop loss: 0.0192032
🎯 Take profit 1: 0.0181669
🎯 Take profit 2: 0.0178707
🎯 Take profit 3: 0.0174266
Take in the vastness of mountains and seas; observe the market’s finer details.
Walk with Uncle Xiong, and witness the gains and losses of the world.
#TUT
Click below to trade 👇
The 4-hour RSI is around 43, and sellers are still in control. Volume has not expanded along with the rebound, either. In this setup, if price returns to the supply zone above, I’d rather follow the prevailing trend and look for a move lower than chase the rebound. The daily chart is still trading within a range, so position sizing should remain restrained. The closer the rebound gets to resistance, the clearer the risk-reward for shorts becomes.
The key risk is price reclaiming the important levels above—that would invalidate this thesis.
🔴 Trade direction: Short
📍 Entry range: 0.0185836 – 0.0186384
🛑 Stop loss: 0.0192032
🎯 Take profit 1: 0.0181669
🎯 Take profit 2: 0.0178707
🎯 Take profit 3: 0.0174266
Take in the vastness of mountains and seas; observe the market’s finer details.
Walk with Uncle Xiong, and witness the gains and losses of the world.
#TUT
Click below to trade 👇