$SNDK
Short-term:
From the 5-minute timeframe, price has broken below the support of the top consolidation range and also below the low of the first pullback. Additionally, on the 2-hour timeframe, the MACD has formed a bearish divergence (top divergence). Therefore, the closer price gets to 1716, the more bearish it is—maximum downside could be expected. TP1 is at 1670. Stop-loss can be placed at 1755. For more aggressive entries, you can place it at 1725.
Mid-term:
On the 4-hour timeframe and above, there is no sign of bearish exhaustion yet. We need to wait for a confirmation break below 1645. After a rebound from 1645–1660, if price fails to reclaim the level, this is a very standard pattern: Break → Retest → Short.
Then I will become clearly bearish, with reference levels:
Short positions: 1640–1660 pullback
Stop-loss: 1690–1705
Targets: TP1: 1600; TP2: 1530; TP3: around 1450
I actually believe this type of short setup has fairly high quality, because it means the short-term long structure has truly been broken.
Short-term:
From the 5-minute timeframe, price has broken below the support of the top consolidation range and also below the low of the first pullback. Additionally, on the 2-hour timeframe, the MACD has formed a bearish divergence (top divergence). Therefore, the closer price gets to 1716, the more bearish it is—maximum downside could be expected. TP1 is at 1670. Stop-loss can be placed at 1755. For more aggressive entries, you can place it at 1725.
Mid-term:
On the 4-hour timeframe and above, there is no sign of bearish exhaustion yet. We need to wait for a confirmation break below 1645. After a rebound from 1645–1660, if price fails to reclaim the level, this is a very standard pattern: Break → Retest → Short.
Then I will become clearly bearish, with reference levels:
Short positions: 1640–1660 pullback
Stop-loss: 1690–1705
Targets: TP1: 1600; TP2: 1530; TP3: around 1450
I actually believe this type of short setup has fairly high quality, because it means the short-term long structure has truly been broken.
