That drop probably woke quite a few people up. $SNDKB fell 8.27% in a day, to 864.88—just one step away from the 24-hour low of 849.68.
The most nerve-racking thing about this level is that a fast drop doesn’t mean the decline is over. If 849.68 breaks, it’ll be a new low. But chasing a short at this price makes it hard to place a stop-loss—it’s like taking a job right at the edge of a blade.
So I’d wait: let it rebound toward the 24-hour midpoint around 897.60, then reassess. Once it bounces, it’ll be clear whether the bears still have any strength. Chasing hard at this level is just testing your own patience.
Direction: watch for a short; don’t chase right now. Reference range: 864.88–897.60. Wait for a rebound near 897.60 before reassessing. Invalidation level: above 945.52. Target: 801.76. Risk level: high. Assuming an entry near 897.60, the loss to the invalidation level would be about 47.92, while the gain to the target would be about 95.84, for a risk-reward ratio of approximately 2.0.
At this point, do you think shorting is going with the trend, or are we already chasing it?
For reference only; not investment advice. Please manage your position size carefully.
$SNDKB
#SNDKB #Trading Opportunity
The most nerve-racking thing about this level is that a fast drop doesn’t mean the decline is over. If 849.68 breaks, it’ll be a new low. But chasing a short at this price makes it hard to place a stop-loss—it’s like taking a job right at the edge of a blade.
So I’d wait: let it rebound toward the 24-hour midpoint around 897.60, then reassess. Once it bounces, it’ll be clear whether the bears still have any strength. Chasing hard at this level is just testing your own patience.
Direction: watch for a short; don’t chase right now. Reference range: 864.88–897.60. Wait for a rebound near 897.60 before reassessing. Invalidation level: above 945.52. Target: 801.76. Risk level: high. Assuming an entry near 897.60, the loss to the invalidation level would be about 47.92, while the gain to the target would be about 95.84, for a risk-reward ratio of approximately 2.0.
At this point, do you think shorting is going with the trend, or are we already chasing it?
For reference only; not investment advice. Please manage your position size carefully.
$SNDKB
#SNDKB #Trading Opportunity