Looking at the H12 timeframe, the recent pump was fueled by strong momentum and retail inflow, but this latest cooling-off period is a natural mean reversion after hitting range resistance.
I’m currently focused on playing this range rather than chasing the current price action. I’m waiting for a clean sweep of the range lows followed by a swift reclaim. I plan to initiate a swing long only after that reclaim is confirmed.
Targets:
~ TP1: 0.3285
~ TP2: 0.4050
Patience is the edge here. Letting the market offer the liquidity grab before entering.
I’m currently focused on playing this range rather than chasing the current price action. I’m waiting for a clean sweep of the range lows followed by a swift reclaim. I plan to initiate a swing long only after that reclaim is confirmed.
Targets:
~ TP1: 0.3285
~ TP2: 0.4050
Patience is the edge here. Letting the market offer the liquidity grab before entering.
Trade active
Unfortunately, price didn't drop to fill my long and it already did a 2x.The next logical move is to wait. There are two scenarios:
Short only after a rejection from the 0.66 zone, it needs to form a bearish structure and a sweep to confirm the setup.
Wait for a catalyst to drive the price down to enter a long.
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.
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.