I’m watching this for a short on a relief bounce, not chasing the current red candles.
The structure is pretty clear to me: price rejected hard from 153.90, flushed to 145.66, then the rebound stalled around 148.87. Since then, we’ve got lower highs and price is back under the 7/25 MAs at 147.06–147.14, while the 99 MA sits much higher at 150.30. The big sell volume came during the breakdown; volume has since dried up, so I’d prefer a retest before entering.
Entry: 147.0–147.4
Confirmation: 15m rejection around 147.1–147.4 + selling volume returning
SL: 149.0
TP1: 145.7
TP2: 144.5
TP3: 143.2
TP4: 141.8
Using ~147.2 entry, the risk is ~1.8 points. That’s roughly 0.8R / 1.5R / 2.2R / 3.0R.
The main liquidity below is the 145.66 low. If that breaks with volume, I’d expect the downside structure to have more room.
Invalidation: sustained 15m acceptance above 149.0, especially if price starts reclaiming 150.30. In that case, I’m out — no reason to fight the structure.,
Not any financial advice this is just my personal chart read
$SPCX
The structure is pretty clear to me: price rejected hard from 153.90, flushed to 145.66, then the rebound stalled around 148.87. Since then, we’ve got lower highs and price is back under the 7/25 MAs at 147.06–147.14, while the 99 MA sits much higher at 150.30. The big sell volume came during the breakdown; volume has since dried up, so I’d prefer a retest before entering.
Entry: 147.0–147.4
Confirmation: 15m rejection around 147.1–147.4 + selling volume returning
SL: 149.0
TP1: 145.7
TP2: 144.5
TP3: 143.2
TP4: 141.8
Using ~147.2 entry, the risk is ~1.8 points. That’s roughly 0.8R / 1.5R / 2.2R / 3.0R.
The main liquidity below is the 145.66 low. If that breaks with volume, I’d expect the downside structure to have more room.
Invalidation: sustained 15m acceptance above 149.0, especially if price starts reclaiming 150.30. In that case, I’m out — no reason to fight the structure.,
Not any financial advice this is just my personal chart read
$SPCX
