$BR just ripped almost 50% from the lows and I’m waiting for the short entry
BR went from around $0.38 to $0.56 in a very fast move
Now it’s pushing toward the $0.60 to $0.63 area where I wanna see what sellers do
I will open a short position if BR pushes into $0.60 to $0.63 & gets rejected then loses $0.56
Entry around $0.60 to $0.63
TP1 $0.54
TP2 $0.50
TP3 $0.44
Stop Loss $0.68
The bigger 4H trend is still weak with BR trading below the $0.67 area
Open Interest has started rebuilding during this bounce so I don’t want to short just because OI looks low
I want the pump into resistance first
Then rejection
Then the breakdown
If BR breaks $0.68 and holds then will not short it....
BR went from around $0.38 to $0.56 in a very fast move
Now it’s pushing toward the $0.60 to $0.63 area where I wanna see what sellers do
I will open a short position if BR pushes into $0.60 to $0.63 & gets rejected then loses $0.56
Entry around $0.60 to $0.63
TP1 $0.54
TP2 $0.50
TP3 $0.44
Stop Loss $0.68
The bigger 4H trend is still weak with BR trading below the $0.67 area
Open Interest has started rebuilding during this bounce so I don’t want to short just because OI looks low
I want the pump into resistance first
Then rejection
Then the breakdown
If BR breaks $0.68 and holds then will not short it....
