$TIA I will open a large sell position on $TIA here.
Take profit: $0.596
Stop loss: $0.696
Look at that candle near the top.
The price surged strongly above the range, and the candle wick stretched much higher, wiping out many of the short positions that were there. At first glance it looked like a breakout, but it does not look like a healthy breakout to me at all.
The move could not hold its gains.
Now many late buyers have entered after seeing that sharp rise, while their liquidity is concentrated much lower, around the $0.59–$0.60 range.
That is exactly the level I am watching.
The upward move on $TIA has already punished the short positions. I think the market may now reverse and start targeting late buyers.
For me, $0.596 is the next important target.
Take profit: $0.596
Stop loss: $0.696
Look at that candle near the top.
The price surged strongly above the range, and the candle wick stretched much higher, wiping out many of the short positions that were there. At first glance it looked like a breakout, but it does not look like a healthy breakout to me at all.
The move could not hold its gains.
Now many late buyers have entered after seeing that sharp rise, while their liquidity is concentrated much lower, around the $0.59–$0.60 range.
That is exactly the level I am watching.
The upward move on $TIA has already punished the short positions. I think the market may now reverse and start targeting late buyers.
For me, $0.596 is the next important target.