$PENGU short: 0.00743 on the 4H is the ceiling I'm watching sellers defend.
Price is under the 4H EMA50, so rallies into this zone are where sellers have to answer. I'd rather wait for a rejection than chase it down.
The read:
- 4H price 0.00742 below EMA50 0.00766, trend structure still favors sellers
- Daily below EMA200 0.00790, the bigger trend is on this side
- Risk 1.3% to SL vs 2.1% to TP3, about 1.6R if the full move plays out
🔴 SHORT · Entry 0.007416–0.007432 · TP 0.007366 / 0.007328 / 0.007270 · SL 0.007520
NFA · DYOR
Price is under the 4H EMA50, so rallies into this zone are where sellers have to answer. I'd rather wait for a rejection than chase it down.
The read:
- 4H price 0.00742 below EMA50 0.00766, trend structure still favors sellers
- Daily below EMA200 0.00790, the bigger trend is on this side
- Risk 1.3% to SL vs 2.1% to TP3, about 1.6R if the full move plays out
🔴 SHORT · Entry 0.007416–0.007432 · TP 0.007366 / 0.007328 / 0.007270 · SL 0.007520
NFA · DYOR
