đ´ăBearish ¡ SHORTă $SAND
Honestly, after this 11% bearish candle at $SAND slammed down, a bunch of people in the comments were calling for a dip-buying opportunity. But after taking a look at the EMA ribbon, I actually think this is the worst time to get itchy trigger fingers.
The current price is 0.07016, down 11.04% over the past 24 hours, and the key former support at 0.071 has been decisively broken. A lot of people are thinking, âItâs fallen so muchâit has to bounce, right?â But in trading, thatâs one of the most expensive things you can say. Once support is decisively broken, itâs no longer support; it becomes a ceiling for the next bounce. Right now, the liquidity piled up between 0.071 and 0.0719 is made up of people waiting to break even and jump on a reboundâthe perfect bait for big players to set a trap.
My approach is simple: I wonât chase a short at the current price. If the price rebounds to around 0.071, or even touches 0.0719, thatâs where Iâll place my short order. My hard stop is 0.07225. If the price closes back above that level, it means the breakdown was a fake-out and my thesis is invalidated. Iâll take the loss and exitâno holding and hoping. My first downside target is 0.0677. Iâll take half off there to lock in profits and let the rest run. The risk-reward ratio on this trade could be around 5:1.
With the EMA ribbon in a bearish alignment and selling pressure backed by trading volume in the hundreds of millions, every bounce in this kind of setup is a chance for bears to add to their positionsânot a signal that bulls are making a comeback. Of course, nobody can guarantee there wonât be a sudden V-shaped reversal tomorrow, so keep your position size small enough to stick to your stop. Where do you think this rebound could reach? Letâs talk in the comments.
#ĺ¸ĺŽĺšżĺş #$SAND #čĄć ĺć #ĺ續ĺŽć #Short
Honestly, after this 11% bearish candle at $SAND slammed down, a bunch of people in the comments were calling for a dip-buying opportunity. But after taking a look at the EMA ribbon, I actually think this is the worst time to get itchy trigger fingers.
The current price is 0.07016, down 11.04% over the past 24 hours, and the key former support at 0.071 has been decisively broken. A lot of people are thinking, âItâs fallen so muchâit has to bounce, right?â But in trading, thatâs one of the most expensive things you can say. Once support is decisively broken, itâs no longer support; it becomes a ceiling for the next bounce. Right now, the liquidity piled up between 0.071 and 0.0719 is made up of people waiting to break even and jump on a reboundâthe perfect bait for big players to set a trap.
My approach is simple: I wonât chase a short at the current price. If the price rebounds to around 0.071, or even touches 0.0719, thatâs where Iâll place my short order. My hard stop is 0.07225. If the price closes back above that level, it means the breakdown was a fake-out and my thesis is invalidated. Iâll take the loss and exitâno holding and hoping. My first downside target is 0.0677. Iâll take half off there to lock in profits and let the rest run. The risk-reward ratio on this trade could be around 5:1.
With the EMA ribbon in a bearish alignment and selling pressure backed by trading volume in the hundreds of millions, every bounce in this kind of setup is a chance for bears to add to their positionsânot a signal that bulls are making a comeback. Of course, nobody can guarantee there wonât be a sudden V-shaped reversal tomorrow, so keep your position size small enough to stick to your stop. Where do you think this rebound could reach? Letâs talk in the comments.
#ĺ¸ĺŽĺšżĺş #$SAND #čĄć ĺć #ĺ續ĺŽć #Short