$HYPE is approaching a major liquidity/supply zone, and this is where Iโm watching for a potential short setup.
๐ Short Watch Zone: ๐ $92.0 - $93.0
Iโm not looking to short blindly. The ideal setup is a push into the $92โ93 liquidity area, followed by a rejection and bearish confirmation on the 15M.
๐ด Entry: $92.0โ$93.0 after rejection confirmation
๐ SL: Above $94.0
๐ฏ TP1: $90.40
๐ฏ TP2: $89.00
๐ฏ Final TP: $87.50
Management:
โข Take partial profit at TP1
โข By TP2, aim to have around 70% of the position secured
โข Keep the remaining portion for $87.50 only if bearish momentum continues
โข After confirmation/partial profit, risk can be reduced by protecting the remaining position
๐ง Why this setup?
The chart shows significant liquidity above price around $92โ93, while substantial liquidity/support is visible lower around the $88โ89 region. A sweep of the upper liquidity followed by rejection could create the short opportunity.
โ ๏ธ Invalidation: If HYPE breaks above $94 and holds, the short thesis is invalid. No averaging into a losing position above invalidation.
The plan is simple ๐ซก we don't chase the price we wait for liquidity, confirmation, and then execute.
#NFPWatch #XRPPostsFirstThreeGreenMonthsInQ3 #ZcashFalls21%FromSeptemberPeak
DYOR ๐ฅ let's see ๐ซฃ
๐ Short Watch Zone: ๐ $92.0 - $93.0
Iโm not looking to short blindly. The ideal setup is a push into the $92โ93 liquidity area, followed by a rejection and bearish confirmation on the 15M.
๐ด Entry: $92.0โ$93.0 after rejection confirmation
๐ SL: Above $94.0
๐ฏ TP1: $90.40
๐ฏ TP2: $89.00
๐ฏ Final TP: $87.50
Management:
โข Take partial profit at TP1
โข By TP2, aim to have around 70% of the position secured
โข Keep the remaining portion for $87.50 only if bearish momentum continues
โข After confirmation/partial profit, risk can be reduced by protecting the remaining position
๐ง Why this setup?
The chart shows significant liquidity above price around $92โ93, while substantial liquidity/support is visible lower around the $88โ89 region. A sweep of the upper liquidity followed by rejection could create the short opportunity.
โ ๏ธ Invalidation: If HYPE breaks above $94 and holds, the short thesis is invalid. No averaging into a losing position above invalidation.
The plan is simple ๐ซก we don't chase the price we wait for liquidity, confirmation, and then execute.
#NFPWatch #XRPPostsFirstThreeGreenMonthsInQ3 #ZcashFalls21%FromSeptemberPeak
DYOR ๐ฅ let's see ๐ซฃ
