I used to short breakdowns like this immediately, only to watch price snap back into the range and stop me out. So now, when I see a chart this extended, I force myself to wait for the retest. NILUSDT just dumped from 0.0848 to 0.0790, a brutal 11% drop on the 15m, and it’s sitting right at the 24h low. The moving averages are stacked above price like a ceiling, confirming heavy selling pressure.
The 0.0848 level is now your clear lower high. Any bounce toward 0.0815–0.0825 will likely get sold into, especially with the MA7 sitting right there. I’m waiting for a weak pullback that fails to reclaim 0.0825, then entering short on the rejection. If it reclaims that zone with volume, the thesis is dead and I stand aside.
Entry: 0.0815–0.0825
SL: 0.0845
TP1: 0.0789
TP2: 0.0765
The lesson here is that breakdowns often need a retest to confirm trapped buyers are exhausted. Don’t chase the red candle; let the market prove it’s weak first.
@Nil #nil $NIL
The 0.0848 level is now your clear lower high. Any bounce toward 0.0815–0.0825 will likely get sold into, especially with the MA7 sitting right there. I’m waiting for a weak pullback that fails to reclaim 0.0825, then entering short on the rejection. If it reclaims that zone with volume, the thesis is dead and I stand aside.
Entry: 0.0815–0.0825
SL: 0.0845
TP1: 0.0789
TP2: 0.0765
The lesson here is that breakdowns often need a retest to confirm trapped buyers are exhausted. Don’t chase the red candle; let the market prove it’s weak first.
@Nil #nil $NIL