ONG is moving within a range, but the indicators point to a short position.
🔴 Short
$ONG /USDT: We expect the price to fall
Bias: Short · Bearish
Entry: 0.0744648 – 0.0747352
Target 1: 0.0717849 (-3.8%)
Target 2: 0.0699081 (-6.3%)
Target 3: 0.0670930 (-10.1%)
Stop loss: 0.0783535 (+5.0%)
Plan: Enter only within the range, close 50% at Target 1, 25% at Target 2, and 25% at Target 3, and move the stop loss to the entry price after Target 1 is reached.
Note: Confidence is only moderate, so keep the position size small.
Why short? 5 of 12 signals are aligned, with one opposing signal.
• 4-hour trend is bearish (price below EMA50 and EMA200)
• 1-hour trend is bearish (price below EMA50 and EMA200)
• Momentum favors sellers (4-hour RSI at 32.8)
Risk: Buyers are applying pressure now (15-minute candle +0.17%)
Q: Why short when the daily trend is moving within a range?
A: The 4-hour and 1-hour trends show a bearish cluster of indicators.
Q: What could make this trade wrong right now?
A: The 15-minute RSI z-score of 1.97 shows that buyers are applying pressure.
Where should you place the stop loss for ONG?
$ONG #ONG