$RED Short Setup... Selling Into the Supply Zone! 📉
$RED has staged a strong recovery from its lows, but following this sharp expansion, chasing the upside is off the table. Looking for a mean-reversion move lower from overhead supply.
- SHORT Entry Zone: 0.1750 – 0.1800
- TP1: 0.1680 | TP2: 0.1570
- Final Target: 0.1500
- SL: 0.1985
The thesis relies on rejection near the entry zone. Note: A clean breakout and sustained hold above 0.1800 – 0.1845 invalidates the short setup.
$RED
$RED has staged a strong recovery from its lows, but following this sharp expansion, chasing the upside is off the table. Looking for a mean-reversion move lower from overhead supply.
- SHORT Entry Zone: 0.1750 – 0.1800
- TP1: 0.1680 | TP2: 0.1570
- Final Target: 0.1500
- SL: 0.1985
The thesis relies on rejection near the entry zone. Note: A clean breakout and sustained hold above 0.1800 – 0.1845 invalidates the short setup.
$RED