$HEMI just printed a brutal liquidity sweep on the daily candle.
After a strong upward move, price surged to $0.022712, taking out recent highs before sharply reversing. The long upper wick shows a strong rejection at the top, suggesting sellers might have taken control.
However, price is currently holding and consolidating in the $0.0144 – $0.0145 zone.
I’m not shorting inside this choppy consolidation level, there’s still a risk of a bear trap if buyers step back in to push toward $0.0156+.
My Game Plan:
I’ll be looking to enter a short position on a 4H candle close below $0.0130, which would officially confirm a structural breakdown.
Targets:
- TP1: $0.0111
- TP2: $0.0095
Stop loss: $0.0170
NFA! Keep your position size controlled . $HEMI
After a strong upward move, price surged to $0.022712, taking out recent highs before sharply reversing. The long upper wick shows a strong rejection at the top, suggesting sellers might have taken control.
However, price is currently holding and consolidating in the $0.0144 – $0.0145 zone.
I’m not shorting inside this choppy consolidation level, there’s still a risk of a bear trap if buyers step back in to push toward $0.0156+.
My Game Plan:
I’ll be looking to enter a short position on a 4H candle close below $0.0130, which would officially confirm a structural breakdown.
Targets:
- TP1: $0.0111
- TP2: $0.0095
Stop loss: $0.0170
NFA! Keep your position size controlled . $HEMI
