APTUSDT: short setup from daily support at 1.7416

4 giorni fa

APTUSDT.P has approached a strong level at 1.7416. Today we are seeing a breakout attempt, but the lack of impulse suggests it might be a false break. However, we are also missing the sharp rejection (bounce) typical of a defended level. Instead, the price is "sawing" around the level. Therefore, it is prudent to either wait for a clear entry point from a newly formed local level or wait for the daily bar to close below the level and near its absolute low. Such a close would confirm price acceptance and the major players' intent to push the asset further down.

Key factors for this scenario:

• Global & local trend alignment
  
• Price void / low liquidity zone beyond level
  
• Correlation with the market
  
• No reaction after a false break
  
• Closing near the level
  
• Closing near the bar's extreme
  

Factors that contradict this scenario:

• Yesterday's bar closed far from the level
  
• Lack of consolidation near the level on the working lower timeframe
  

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ieri

Trade chiuso: stop raggiunto

There was one entry that resulted in a stop-loss. Following that, the level became choppy and lost its relevance.