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$IRYS WAS FLYING… NOW I WILL TRY NOT TO BECOME EXIT LIQUIDITY
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$IRYS /USDT SHORT PLAN
Entry zone: CMP–$0.0207
Stop Loss: $0.0248
TP1: $0.0182
TP2: $0.0170
TP3: $0.0158
$IRYS ran hard toward $0.0242 but buyers couldn't hold the highs
The price is weakening on lower tf, short-term support has broken & open interest has cooled from its recent highs
I'm waiting for a deeper correction but there's one catch 👇
The 4H structure is STILL bullish
So this isn't a carefree short. If buyers step back in, this trade can get squeezed fast.So it's a quite risky trade.
My idea is a short-term correction.Its not a declaration that the whole trend is dead
The real question: is IRYS losing steam or is this just the pullback bulls need before another leg up?
Manage the risk. Countertrend trades can turn ugly quickly.
#IRYS