MU is setting up for a short with a 91% confidence level, targeting a 1:1.7 risk to reward ratio. Current market conditions are ripe for a potential downturn.
━━━━━━━━━━━━━━━━━━━━━
🔴 MU SHORT 📉
━━━━━━━━━━━━━━━━━━━━━
📍 Entry Range: $841.7174 – $843.4026
🛑 Stop Loss: $867.8368 (-3.0%)
🎯 TP1: $829.9216 (+1.5%)
🏆 TP2: $800.4320 (+5.0%)
⚡ R/R Ratio: 1:1.7
📊 Confidence: 91%
━━━━━━━━━━━━━━━━━━━━━
The CHoCH signal has fired, indicating a break in market structure, while CVD confirms the direction with volume. Additionally, the FVG and OB are overlapping, creating a strong POI confluence that supports this short setup. The overall structure suggests a high probability of a move to the downside.
A 3.0% stop loss seems relatively wide, making it suitable for higher leverage, potentially up to 5x.
Consider taking partial profits at TP1 to lock in some gains and adjust the stop loss to break even, allowing the remaining position to ride out the potential move.
Not financial advice — always manage your own risk 🙏
#MU #cardanotohandcorecomponentstooutsideteams #TradingSignals #Write2Earn