VELODROME is setting up for a short with a confidence level of 64%, presenting a compelling risk-reward ratio. The current market structure is ripe for a potential downtrend.
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$VELODROME SHORT 📉 — Trade Plan
• Entry: $0.017103 – $0.017137
• Stop: $0.017634 (-3.0%)
• Target 1: $0.016863 (+1.5%)
• Target 2: $0.016264 (+5.0%)
• R/R 1:1.7 | Confidence 64%
The combination of a market structure break, volume confirming direction, a fair value gap, and an order block overlap is painting a bearish picture for VELODROME. These signals, particularly the CHoCH and CVD, suggest a strong possibility of a downward move. The POI confluence further reinforces this outlook, indicating a high-probability short setup.
With a 3.0% stop loss, which is relatively tight, a lower leverage is advisable to manage risk effectively and avoid significant drawdowns.
Taking partial profit at the first target point could be a prudent strategy to bank some gains and adjust the stop loss to break even, allowing the remaining position to ride out the potential full extent of the VELODROME downtrend.
DYOR — this isn't financial advice, size your risk accordingly 🙏
$VELODROME #VELODROMEUSDT #crypto #TradingSignals #Write2Earn