🛑 Why am I refusing to enter now despite the strong rally? (Applying the Sniper 2.0 strategy to $MERL )
The rally is tempting, but the “Sniper” only fires when all the conditions are met. Here’s why my decision right now is to wait:
📊 What do the filters say?
1️⃣ Trend (bullish): The price is above the Super Trend line on all timeframes and has risen by +47%.
2️⃣ Momentum (extreme risk): The RSI has reached 91 on the 4-hour timeframe! We’re in historically overbought territory. Buying here means buying right at the top.
3️⃣ Liquidity and whales: The nearest liquidity wall is on the sell side at (0.0361 - 0.0374). More importantly, Arkham data shows large transfers ($22.85 million) from PancakeSwap to a Binance wallet, which could signal upcoming selling pressure.
💡 My view and strategy:
Buying now is “financial suicide.” The strategy rejects this trade. It’s better to place a pending buy order in the true support zone (0.03300 - 0.03350), where the Super Trend line meets liquidity. I won’t enter until the RSI cools down and a clear reversal candle appears.
🎯 Candidate trade details (pending):
• Type: Buy (Long).
• Entry: 0.03350 (only if support is touched).
• Stop loss: 0.03100.
• First target: 0.03636 | Second target: 0.03740.
• Risk-reward ratio (R:R): Excellent (1:2).
🗣️ My question for you:
Would you rather enter with the current momentum, or wait for a correction like me? Share your thoughts! 👇
The rally is tempting, but the “Sniper” only fires when all the conditions are met. Here’s why my decision right now is to wait:
📊 What do the filters say?
1️⃣ Trend (bullish): The price is above the Super Trend line on all timeframes and has risen by +47%.
2️⃣ Momentum (extreme risk): The RSI has reached 91 on the 4-hour timeframe! We’re in historically overbought territory. Buying here means buying right at the top.
3️⃣ Liquidity and whales: The nearest liquidity wall is on the sell side at (0.0361 - 0.0374). More importantly, Arkham data shows large transfers ($22.85 million) from PancakeSwap to a Binance wallet, which could signal upcoming selling pressure.
💡 My view and strategy:
Buying now is “financial suicide.” The strategy rejects this trade. It’s better to place a pending buy order in the true support zone (0.03300 - 0.03350), where the Super Trend line meets liquidity. I won’t enter until the RSI cools down and a clear reversal candle appears.
🎯 Candidate trade details (pending):
• Type: Buy (Long).
• Entry: 0.03350 (only if support is touched).
• Stop loss: 0.03100.
• First target: 0.03636 | Second target: 0.03740.
• Risk-reward ratio (R:R): Excellent (1:2).
🗣️ My question for you:
Would you rather enter with the current momentum, or wait for a correction like me? Share your thoughts! 👇
