$PONS — Ascending Trendline Losing Steam Below 0.62 Supply, Flush Loading 📉
Trade Plan: Short $PONS
Entry: 0.615 - 0.620
SL: 0.6222
TP: 0.6087 | 0.6005 | 0.5920
Why this Setup?
Price is compressing beneath the 0.6164 - 0.6222 supply zone while the ascending intraday trendline is beginning to weaken. A rejection from this overhead zone followed by a trendline break could open a clean downside move toward 0.6087, 0.6005 and 0.5920. As long as 0.6222 holds, the bearish setup remains valid.
Trade $PONS here 👇
Trade Plan: Short $PONS
Entry: 0.615 - 0.620
SL: 0.6222
TP: 0.6087 | 0.6005 | 0.5920
Why this Setup?
Price is compressing beneath the 0.6164 - 0.6222 supply zone while the ascending intraday trendline is beginning to weaken. A rejection from this overhead zone followed by a trendline break could open a clean downside move toward 0.6087, 0.6005 and 0.5920. As long as 0.6222 holds, the bearish setup remains valid.
Trade $PONS here 👇