Entering the trade around $PONS now. ๐
Entry price: 0.5027 - 0.5052
Target 1: 0.5283
Target 2: 0.5478
Stop loss: 0.4876
PONS is currently testing the lowest level in 24 hours at 0.5056, indicating a tail/wick and a possible momentum exhaustion on the 15-minute chart. With the RSI(6) indicator on the 15-minute timeframe falling deeply to 21.35, a mean reversion trade back toward the MA7 at 0.5108 is a high-probability setup
Entry price: 0.5027 - 0.5052
Target 1: 0.5283
Target 2: 0.5478
Stop loss: 0.4876
PONS is currently testing the lowest level in 24 hours at 0.5056, indicating a tail/wick and a possible momentum exhaustion on the 15-minute chart. With the RSI(6) indicator on the 15-minute timeframe falling deeply to 21.35, a mean reversion trade back toward the MA7 at 0.5108 is a high-probability setup