$XPL 🔻
XPL is up big and sitting in the expensive seats.
Position: Sell
Position Entry: 0.11469
Stop Loss: 0.12547
Target: 0.08679
The chart shows a bullish trend, but price is now trading in the premium zone of the dealing range, having just made a fresh break of structure to the upside seven candles ago. This push has likely exhausted the immediate bullish momentum, bringing price near the range high where sellers often step in. There is a minor pullback inducement from the last candle that hasn't been taken, suggesting a potential trap for late buyers. With open buy-side liquidity sitting just above at the recent swing high, a rejection from this premium area could send price back down to target the nearest major untapped sell-side liquidity pool below.
If it powers past the recent high, we'll step aside and reassess.
#Binance #CryptoSignals #XPL
XPL is up big and sitting in the expensive seats.
Position: Sell
Position Entry: 0.11469
Stop Loss: 0.12547
Target: 0.08679
The chart shows a bullish trend, but price is now trading in the premium zone of the dealing range, having just made a fresh break of structure to the upside seven candles ago. This push has likely exhausted the immediate bullish momentum, bringing price near the range high where sellers often step in. There is a minor pullback inducement from the last candle that hasn't been taken, suggesting a potential trap for late buyers. With open buy-side liquidity sitting just above at the recent swing high, a rejection from this premium area could send price back down to target the nearest major untapped sell-side liquidity pool below.
If it powers past the recent high, we'll step aside and reassess.
#Binance #CryptoSignals #XPL