Listen guys, The bears are officially in shambles right now... 🐧
Look at this $PENGU chart. We had a brutal bleed, the sad penguin was in full control, and everyone was calling for lower. But look at the structure now. The downtrend is broken. We held that purple support, and a massive green candle just completely obliterated the yellow resistance. The chad penguin has officially entered the chat.
The problem? Retail traders are getting chopped up. They either keep shorting because they are married to their bearish bias, or they FOMO in at the absolute top of this green wick.
Here is the Legend’s playbook for this Long setup:
Don't chase a green dildo. Wait for the retest.
Let the 4H candle actually close above that yellow line. Then, wait for the price to dip back down and flip that old yellow resistance into new support. That is your sniper entry.
By waiting for the retest to hold, you get a tight stop-loss just below the yellow line. You protect your capital from fakeout wicks, and you position yourself to ride the next leg up with the momentum.
Are you long on $PENGU or are you still trying to fade this pump? Let me know in the comments.
Look at this $PENGU chart. We had a brutal bleed, the sad penguin was in full control, and everyone was calling for lower. But look at the structure now. The downtrend is broken. We held that purple support, and a massive green candle just completely obliterated the yellow resistance. The chad penguin has officially entered the chat.
The problem? Retail traders are getting chopped up. They either keep shorting because they are married to their bearish bias, or they FOMO in at the absolute top of this green wick.
Here is the Legend’s playbook for this Long setup:
Don't chase a green dildo. Wait for the retest.
Let the 4H candle actually close above that yellow line. Then, wait for the price to dip back down and flip that old yellow resistance into new support. That is your sniper entry.
By waiting for the retest to hold, you get a tight stop-loss just below the yellow line. You protect your capital from fakeout wicks, and you position yourself to ride the next leg up with the momentum.
Are you long on $PENGU or are you still trying to fade this pump? Let me know in the comments.
