ACE shows bearish confluence on the 4-hour chart
๐ด Short $ACE /USDT: Price is expected to decline
Bias: Short ยท Bearish
Entry: 0.147810 โ 0.148330
Target 1: 0.143973 (-2.8%)
Target 2: 0.141241 (-4.6%)
Target 3: 0.137143 (-7.4%)
Stop loss: 0.153533 (+3.7%)
Plan: Enter only within the range, close 50% at Target 1, 25% at Target 2, and 25% at Target 3. Move the stop loss to the entry price after Target 1 is reached.
Note: Confidence is only moderate, so keep the position size small.
Why short? What I checked: 5 of 12 indicators support the trade, and none oppose it.
โข The 4-hour trend is bearish (price below EMA50 and EMA200)
โข The 1-hour trend is bearish (price below EMA50 and EMA200)
โข Momentum favors sellers (4-hour RSI at 30.1)
Warning: The setup is invalidated if the price reaches the stop loss at 0.153533
Summary: The bearish alignment on the 4-hour timeframe (price below EMA50 and EMA200) provides a clear direction, but confidence is moderate because the daily trend is ranging and the 15-minute ADX does not show a clear trend, meaning some factors are conflicting.
Where would you place the stop loss for this trade?
Full setup on the chart below.
To trade, click here ๐๐ป $ACE ๐๐ป Happy trading ๐
๐ด Short $ACE /USDT: Price is expected to decline
Bias: Short ยท Bearish
Entry: 0.147810 โ 0.148330
Target 1: 0.143973 (-2.8%)
Target 2: 0.141241 (-4.6%)
Target 3: 0.137143 (-7.4%)
Stop loss: 0.153533 (+3.7%)
Plan: Enter only within the range, close 50% at Target 1, 25% at Target 2, and 25% at Target 3. Move the stop loss to the entry price after Target 1 is reached.
Note: Confidence is only moderate, so keep the position size small.
Why short? What I checked: 5 of 12 indicators support the trade, and none oppose it.
โข The 4-hour trend is bearish (price below EMA50 and EMA200)
โข The 1-hour trend is bearish (price below EMA50 and EMA200)
โข Momentum favors sellers (4-hour RSI at 30.1)
Warning: The setup is invalidated if the price reaches the stop loss at 0.153533
Summary: The bearish alignment on the 4-hour timeframe (price below EMA50 and EMA200) provides a clear direction, but confidence is moderate because the daily trend is ranging and the 15-minute ADX does not show a clear trend, meaning some factors are conflicting.
Where would you place the stop loss for this trade?
Full setup on the chart below.
To trade, click here ๐๐ป $ACE ๐๐ป Happy trading ๐