Everyone, I’m opening a large short position on $Q here.
Take-profit: $0.0292
Stop-loss: $0.0409
And no, I’m not shorting just because the price has risen sharply.
Before this breakout, there were already plenty of short positions near the previous range. The breakout did its job: it pushed the price higher, forced many early shorts to exit, and made the move look much stronger than it really was.
That’s exactly why I waited.
The price is now around $0.037–$0.038, but the trading positions and data I’m watching are starting to shift. The easy short squeeze has already happened, and from here on, I care more about what happens when new buyers stop chasing the price.
If it can’t continue rising steadily above this area, I think this entire breakout could start to fade.
That’s why I’m opening the short after the squeeze, not before it.
My main downside target is around $0.0292.
The market has already punished the early shorts. Now I want to see whether it’s the late buyers’ turn.
Take-profit: $0.0292
Stop-loss: $0.0409
And no, I’m not shorting just because the price has risen sharply.
Before this breakout, there were already plenty of short positions near the previous range. The breakout did its job: it pushed the price higher, forced many early shorts to exit, and made the move look much stronger than it really was.
That’s exactly why I waited.
The price is now around $0.037–$0.038, but the trading positions and data I’m watching are starting to shift. The easy short squeeze has already happened, and from here on, I care more about what happens when new buyers stop chasing the price.
If it can’t continue rising steadily above this area, I think this entire breakout could start to fade.
That’s why I’m opening the short after the squeeze, not before it.
My main downside target is around $0.0292.
The market has already punished the early shorts. Now I want to see whether it’s the late buyers’ turn.