๐ METAUSDT: Is a Short Setup Worth Watching?
When trading METAUSDT, I prefer to wait for confirmation rather than enter a short position just because the price starts falling.
My strategy is simple:
๐น Breakdown: Let the price break below a key support level. ๐น Retest: Wait for the price to revisit the broken support, which may now act as resistance. ๐น Confirmation: Look for a bearish 15-minute candle and increased selling volume. ๐น Entry: Consider a short only after the retest rejection. ๐น Risk Management: Place the stop-loss above the rejection structure and set targets around the next support levels.
If the price reclaims the broken support with strong buying volume, the short setup may become invalid.
I would rather miss an entry than force a trade without confirmation.
What matters more to you when shorting METAUSDT: the breakdown or the retest confirmation?
#METAUSDT #cryptotrading #BinanceSquare
When trading METAUSDT, I prefer to wait for confirmation rather than enter a short position just because the price starts falling.
My strategy is simple:
๐น Breakdown: Let the price break below a key support level. ๐น Retest: Wait for the price to revisit the broken support, which may now act as resistance. ๐น Confirmation: Look for a bearish 15-minute candle and increased selling volume. ๐น Entry: Consider a short only after the retest rejection. ๐น Risk Management: Place the stop-loss above the rejection structure and set targets around the next support levels.
If the price reclaims the broken support with strong buying volume, the short setup may become invalid.
I would rather miss an entry than force a trade without confirmation.
What matters more to you when shorting METAUSDT: the breakdown or the retest confirmation?
#METAUSDT #cryptotrading #BinanceSquare