Everyone’s chasing the bounce, but $SKHYNIX / USDT just got rejected at the 1,196 resistance zone on the 4H chart—setting up a retest of lower support levels.
$SKHYNIX – SHORT
Trade Plan:
Entry: 1,159.00 – 1,175.00
SL: 1,188.50
TP1: 1,123.00
TP2: 1,080.00
TP3: 1,025.00
Why this setup?
4H Resistance Rejection: Price swept liquidity near 1,196.94 and printed a sharp rejection candle, failing to close above the dynamic MA(7) resistance [1,167.09].
Moving Average Compression: Currently sitting right around the MA(99) line at 1,155.41; a clean 4H break below this pivot opens the gates for a drop toward MA(25) at 1,123.72.
Volume Exhaustion: Buying volume has dried up significantly following the recovery from the 884.17 low, indicating lack of momentum to push higher without a pullback.
Why now? Shorting the rejection into overhead resistance with an active Stop Loss at 1,188.50 provides an exceptionally tight Risk-to-Reward ratio before the downward continuation.
$SKHYNIX – SHORT
Trade Plan:
Entry: 1,159.00 – 1,175.00
SL: 1,188.50
TP1: 1,123.00
TP2: 1,080.00
TP3: 1,025.00
Why this setup?
4H Resistance Rejection: Price swept liquidity near 1,196.94 and printed a sharp rejection candle, failing to close above the dynamic MA(7) resistance [1,167.09].
Moving Average Compression: Currently sitting right around the MA(99) line at 1,155.41; a clean 4H break below this pivot opens the gates for a drop toward MA(25) at 1,123.72.
Volume Exhaustion: Buying volume has dried up significantly following the recovery from the 884.17 low, indicating lack of momentum to push higher without a pullback.
Why now? Shorting the rejection into overhead resistance with an active Stop Loss at 1,188.50 provides an exceptionally tight Risk-to-Reward ratio before the downward continuation.