1. Market Sentiment & Price Trap
Following up on our June 18th plan, the market has perfectly executed a psychological trap. The aggressive breakdown below 0.57500 triggered the "Buyer Lose" phase, forcing early longs to liquidate their positions. As price pushed into the 0.57100 zone, retail traders fell into the trap, aggressively chasing the momentum with late shorts. However, the "No Buyer" signal at the absolute low indicates that the selling pressure has dried up after the liquidity sweep. Market makers have successfully trapped the FOMO sellers right at the bottom of the descending structure.
2. Technical Structure
Price is currently holding firm above the multi-week major descending trendline support and the critical horizontal floor at 0.56862. The local consolidation right above this green support line shows that the bearish momentum has completely faded, setting the stage for a sharp short squeeze to clean out the trapped sellers.
3. Tactical Execution
We trigger a long position to exploit the trapped short positions and target the upper liquidity pools.
• Entry Zone: 0.57312 (Current market price)
• Stop Loss (SL): 0.56858 (Placed safely below the key green support line)
• Take Profit (TP): 0.58320 (Targeting the upper counter-trendline and major liquidity pool)
• Risk-to-Reward (R:R): Approx 2.2:1
Following up on our June 18th plan, the market has perfectly executed a psychological trap. The aggressive breakdown below 0.57500 triggered the "Buyer Lose" phase, forcing early longs to liquidate their positions. As price pushed into the 0.57100 zone, retail traders fell into the trap, aggressively chasing the momentum with late shorts. However, the "No Buyer" signal at the absolute low indicates that the selling pressure has dried up after the liquidity sweep. Market makers have successfully trapped the FOMO sellers right at the bottom of the descending structure.
2. Technical Structure
Price is currently holding firm above the multi-week major descending trendline support and the critical horizontal floor at 0.56862. The local consolidation right above this green support line shows that the bearish momentum has completely faded, setting the stage for a sharp short squeeze to clean out the trapped sellers.
3. Tactical Execution
We trigger a long position to exploit the trapped short positions and target the upper liquidity pools.
• Entry Zone: 0.57312 (Current market price)
• Stop Loss (SL): 0.56858 (Placed safely below the key green support line)
• Take Profit (TP): 0.58320 (Targeting the upper counter-trendline and major liquidity pool)
• Risk-to-Reward (R:R): Approx 2.2:1
Related publications
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Related publications
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.