Everyone, I will open a large short position on
$ELSA .
Take profit: 0.07729
Stop loss: 0.084541
Now you may be asking an obvious question: why am I shorting at this level?
First, look at the position. The latest 15-minute close is 0.08241, and the 20-day range is 0.0477 to 0.09401.
The current price is sitting at the 75.0% percentile, with the twenty-day high right above it.
It has risen 19.35% in seven days, like someone stacking steps one by one too fast, with empty space under their feet.
The piled-up positions have not changed hands, and the real liquidity is below.
At first glance I thought I had misread it, and only after checking twice did I believe it was at the upper edge of the range.
The average daily volatility is 13.15%, and this trade’s take profit and stop loss are both within it. The take profit is -6.21% from the current price, and the stop loss is +2.59% from the current price.
This trade has a risk-reward ratio of 2.40. The bet is on the premium being given back, not on a trend reversal.
At this level I’m willing to take the bet, like standing at the top of a downhill slope and waiting for it to slide on its own.
The disagreement is right here: those who chase in are taking the burnt-hot chips from someone else’s hands.
If it breaks below the midpoint of the range, I’m out, no attachment.
What do you all think about the sustainability of this rally? Let’s chat in the comments.
$ARX $BREV #ELSA #ARX #cryptocurrency
The above is a personal trading system record and data observation, and does not constitute investment advice