🐻 Short Setup: $XNY
(Resistance Rejection)
📉
The recent bounce on $XNY is hitting a major wall. While the price pushed back into the 0.0041 – 0.0044 zone, the move lacks any real conviction. Instead of a clean breakout, we are seeing "choppy" candles and a total lack of follow-through. When momentum fades at key resistance like this, a rollover is usually next. ⚡
📉 Trading Plan (Max 10x Leverage)
Direction: SHORT 🔴
Entry Zone: 0.0041 – 0.0044
Stop Loss (SL): 0.0047 🛡️
🎯 Profit Targets
TP 1: 0.0037
TP 2: 0.0033
TP 3: 0.0029
🔍 Technical Breakdown:
Momentum Loss: The RSI is flattening out on the lower timeframes, confirming that the "buying heat" is cooling off
.
Structure: $XNY is revisiting previous supply zones without the volume needed to flip them into support. Expect sellers to step back in heavily at these levels.
Risk Note: At 10x leverage, keep your position size disciplined. A wick above 0.0045 is possible before the actual drop.
Trader's Note: Patience is key. We are looking for a breakdown of the current local support to confirm the "roll over" towards our targets. 📉
Is going to break out or break down? Drop your bias in the comments! 👇
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