ONTUSDT 4H short setup after double top and retracement
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TA Explained
ONTUSDT moved down and created a double top. The retracement after the impulse to the downside is completed, price clearly got rejected at 0.5 fib level drawn on the 4H timeframe.
Targetting previous support zone as first target, breaking it down will result in a move to lower support zones. SL place above previous top and 0.618 fib level of the downside move.
Trade setup
Best entries: 0.5900 - 0.5806
TP1: 0.5553
TP2: 0.5371
TP3: 0.5094
SL: 0.6210
RR: 2.13
Max leverage: 4x
—————
Do Your Own Research (of course)
Trade at own risk (of course)
Only trade what you can afford to lose (of course)
ONTUSDT moved down and created a double top. The retracement after the impulse to the downside is completed, price clearly got rejected at 0.5 fib level drawn on the 4H timeframe.
Targetting previous support zone as first target, breaking it down will result in a move to lower support zones. SL place above previous top and 0.618 fib level of the downside move.
Trade setup
Best entries: 0.5900 - 0.5806
TP1: 0.5553
TP2: 0.5371
TP3: 0.5094
SL: 0.6210
RR: 2.13
Max leverage: 4x
—————
Do Your Own Research (of course)
Trade at own risk (of course)
Only trade what you can afford to lose (of course)
Trade fermée: cible de profit atteinte
Two targets were reached. Remainder of the position was closed by the bot in profit.About 24.8% profit for the second target.
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