$OGN REJECTS MAJOR SUPPLY ZONE — SHORT SETUP 📉🔥
🔴 SHORT
Entry Range: $0.0400–$0.0440
Stop Loss: $0.04771
TP1: $0.0320
TP2: $0.0240
TP3: $0.01659
OGN suffered a sharp rejection after spiking directly into the $0.0500–$0.0544 macro supply block, leaving a heavy upper wick and currently rolling over near $0.04218. For me, the key is whether bears can capitalize on this top rejection and force price back down toward the primary demand floor.
I’m looking for a continued unwinding lower while OGN remains capped below upper resistance. A sustained push down from this region could send price toward $0.0320 first, followed by $0.0240, and eventually the primary marked target floor around $0.01659.
After a massive spike and quick rejection like this, I’m definitely not treating it like a free-money trade 😅. Volatility can be brutal on blow-off wicks, so I’d rather manage position size and respect risk instead of chasing without discipline.
As long as price stays capped under the rejection high, my bias favors further downside. Above $0.04771, the setup is invalidated for me.
Now let’s see if OGN completes this drop back to macro support 📉🔥
$RLC
$JCT
🔴 SHORT
Entry Range: $0.0400–$0.0440
Stop Loss: $0.04771
TP1: $0.0320
TP2: $0.0240
TP3: $0.01659
OGN suffered a sharp rejection after spiking directly into the $0.0500–$0.0544 macro supply block, leaving a heavy upper wick and currently rolling over near $0.04218. For me, the key is whether bears can capitalize on this top rejection and force price back down toward the primary demand floor.
I’m looking for a continued unwinding lower while OGN remains capped below upper resistance. A sustained push down from this region could send price toward $0.0320 first, followed by $0.0240, and eventually the primary marked target floor around $0.01659.
After a massive spike and quick rejection like this, I’m definitely not treating it like a free-money trade 😅. Volatility can be brutal on blow-off wicks, so I’d rather manage position size and respect risk instead of chasing without discipline.
As long as price stays capped under the rejection high, my bias favors further downside. Above $0.04771, the setup is invalidated for me.
Now let’s see if OGN completes this drop back to macro support 📉🔥
$RLC
$JCT