BASED is due for a pullback after breaking market structure, and the current zone presents a high-probability short opportunity. The confluence of key levels makes this a compelling entry point.
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$BASED SHORT 📉 — Trade Plan
• Entry: $0.081688 – $0.081852
• Stop: $0.084223 (-3.0%)
• Target 1: $0.080543 (+1.5%)
• Target 2: $0.077681 (+5.0%)
• R/R 1:1.7 | Confidence 64%
This BASED short setup is fueled by a cluster of signals including a clear market structure break, volume confirming direction, and a fair value gap - all of which are currently overlapping with an order block, suggesting a significant liquidity sweep is likely. The presence of these signals, particularly the overlap of the order block and fair value gap, indicates a strong potential for a downside move. The overall structure looks primed for a correction, given the recent price action.
A 3.0% stop loss seems moderately tight but manageable with lower leverage, which should help in mitigating potential losses if the trade doesn't work out as planned.
Taking partial profit at the first target could be wise, as it allows for the realization of some gains while still letting the trade ride out its full potential.
Not financial advice — trade only what you can afford to lose 🙏
$BASED #BASEDUSDT #SMC #TradingSignals #Write2Earn