This isn’t a trap—the market’s shift is speaking. $ONG Both the 4-hour and 1-hour structures are below the moving averages, and selling pressure has remained steady. The 15-minute ADX is nearing 29, indicating that short-term momentum is still in the bears’ hands. The rebound is happening on lower volume, while the downward moves come with higher volume—a distribution that doesn’t favor the bulls.
The dense cluster of moving averages overhead is acting as resistance. As long as price fails to reclaim and hold above it on a pullback, the structure still points to further downside. The short setup is based on trend alignment, not a bet on a single candle. The rebound offers an opportunity to enter a short, not a reversal signal.
🔴 Trade direction: Short
📍 Entry range: 0.0806396 – 0.0807886
🛑 Stop loss: 0.0830838
🎯 Take profit 1: 0.0789368
🎯 Take profit 2: 0.0777520
🎯 Take profit 3: 0.0759747
Behold the vastness of mountains and seas; observe the market’s subtleties.
Join Uncle Xiong to witness the gains and losses of the world.
#ONG
Click below to trade 👇
The dense cluster of moving averages overhead is acting as resistance. As long as price fails to reclaim and hold above it on a pullback, the structure still points to further downside. The short setup is based on trend alignment, not a bet on a single candle. The rebound offers an opportunity to enter a short, not a reversal signal.
🔴 Trade direction: Short
📍 Entry range: 0.0806396 – 0.0807886
🛑 Stop loss: 0.0830838
🎯 Take profit 1: 0.0789368
🎯 Take profit 2: 0.0777520
🎯 Take profit 3: 0.0759747
Behold the vastness of mountains and seas; observe the market’s subtleties.
Join Uncle Xiong to witness the gains and losses of the world.
#ONG
Click below to trade 👇