$PONS 15M Setup
#PONS is currently around $0.408, trading below the $0.416–$0.419 resistance zone.
I’m expecting price to push back into this zone for a retest before the next move lower. I’ve already placed my limit order around the area, so I’m watching the reaction there closely.
If the zone rejects price as expected, the setup points toward a move back toward the $0.390 area. There’s also a chance price continues lower without giving the retest.
#PONS is currently around $0.408, trading below the $0.416–$0.419 resistance zone.
I’m expecting price to push back into this zone for a retest before the next move lower. I’ve already placed my limit order around the area, so I’m watching the reaction there closely.
If the zone rejects price as expected, the setup points toward a move back toward the $0.390 area. There’s also a chance price continues lower without giving the retest.