$QNT 🔴
QNT is looking to pull back from these highs. 📊
📌 $QNT
Setup: Short
Entry Zone: 174.70
Stop Loss: 194.60
Profit Target 1: 134.90
Profit Target 2: 115.00
Profit Target 3: 95.1
QNT has been in a clear uptrend, marked by multiple confirmed breaks of prior resistance levels and consistently higher lows. However, price has now reached the premium zone of the recent dealing range, which typically favors short positions. The most recent swing high at 194.6, which also represents the top of this range and a level of buy-side liquidity, has not yet been broken. With price currently trading within this premium area and showing signs of rejection from the recent highs, a short trade targeting the lower end of the dealing range at 92.64 appears to be a logical play. A stop loss placed just above the recent swing high at 194.6 would provide a reasonable buffer.
Let's see if this plays out. Trade with caution!
#Trading #CryptoSignals
QNT is looking to pull back from these highs. 📊
📌 $QNT
Setup: Short
Entry Zone: 174.70
Stop Loss: 194.60
Profit Target 1: 134.90
Profit Target 2: 115.00
Profit Target 3: 95.1
QNT has been in a clear uptrend, marked by multiple confirmed breaks of prior resistance levels and consistently higher lows. However, price has now reached the premium zone of the recent dealing range, which typically favors short positions. The most recent swing high at 194.6, which also represents the top of this range and a level of buy-side liquidity, has not yet been broken. With price currently trading within this premium area and showing signs of rejection from the recent highs, a short trade targeting the lower end of the dealing range at 92.64 appears to be a logical play. A stop loss placed just above the recent swing high at 194.6 would provide a reasonable buffer.
Let's see if this plays out. Trade with caution!
#Trading #CryptoSignals