$SKHY remains in a downtrend and is currently testing a strong resistance zone between 142 and 147 (the previous swing high and breakdown area).
Although short-term momentum is strongly bullish, going long at these elevated levels carries considerable risk. A safer strategy is to wait for a pullback before going long, or wait for a clear rejection at this resistance zone before going short.
$SKHY Short Trade Plan (Preferred)
Wait for the price to move into the resistance zone and show signs of rejection, trapping late-arriving bulls (a bull trap).
· Short entry zone: 142–147
· Stop loss: Above 152
· Take profit:
· TP1: 136
· TP2: 128
Support me by trading here 👇#skhy
Although short-term momentum is strongly bullish, going long at these elevated levels carries considerable risk. A safer strategy is to wait for a pullback before going long, or wait for a clear rejection at this resistance zone before going short.
$SKHY Short Trade Plan (Preferred)
Wait for the price to move into the resistance zone and show signs of rejection, trapping late-arriving bulls (a bull trap).
· Short entry zone: 142–147
· Stop loss: Above 152
· Take profit:
· TP1: 136
· TP2: 128
Support me by trading here 👇#skhy