MATIC/USDT (SHORT POSITION) with last confirmation.
Entry: $1.648-$1.652 (I have lowered the entries as you will see this post later)
Stop Loss: $1.736
Take Profit: $1.416, $1.357
Analysis: Blue line is the support that has been tested few times. I believe you know that I was planning to short it but I was waiting for the last confirmation which will be the fakeout from my resistance line (Purple). Logically, we should wait for this 4 candle to close before entering the trade but I decided to enter the trade earlier as the selling pressure is getting higher.
Bearish Signs: Lower Highs, Triple Bottom, Fakeout( To be confirmed) and lower volume.
All the best. Stay close and ask me if you need anything by commenting below.
Stop Loss: $1.736
Take Profit: $1.416, $1.357
Analysis: Blue line is the support that has been tested few times. I believe you know that I was planning to short it but I was waiting for the last confirmation which will be the fakeout from my resistance line (Purple). Logically, we should wait for this 4 candle to close before entering the trade but I decided to enter the trade earlier as the selling pressure is getting higher.
Bearish Signs: Lower Highs, Triple Bottom, Fakeout( To be confirmed) and lower volume.
All the best. Stay close and ask me if you need anything by commenting below.
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