Sellers are building heavy pressure from above, and I am planning to trade with the downward flow.
I see that $1000LUNC is down slightly today, trading at 0.0818800. The whale data points to a clear bearish trend developing on the hourly structure. There are 75 whales holding short positions, and they are firmly in profit with an average entry price up at 0.0917172. On the other hand, 103 whales are caught in long positions and are trapped in a loss, holding an average entry price way up at 0.0846448.
Because the buyers are underwater and losing money, the order flow tells me the market wants to push lower to clean out their liquidity. I am planning a short setup as the price pulls back toward the whale resistance zone. This setup uses a simple structure with a exact double distance risk-to-reward ratio.
Trade Plan:
Entry Price: 0.082000
Stop Loss: 0.085000
Take Profit 1: 0.079000
Take Profit 2: 0.076000
