$GAS - SHORT Setup
Entry: 2.050 – 2.065 (On rejection from this resistance zone)
Target 1:2.000
Target 2:1.960
Stop Loss:2.080 (Above the 24h high)
My View:
GAS has experienced a strong pump today(+8.89%) but remains in a bearish structure on higher timeframes (-29.99% over 90 days). The price is now showing signs of exhaustion and distribution near the top of its range, approaching the 24h high (2.089). The order book shows significant Ask liquidity stacked just above the current price, indicating selling pressure is present as early buyers take profits. Such strong single-day rallies within a larger downtrend are typically corrective and prone to sharp reversals. The plan is to enter a short position on a confirmed rejection from the defined resistance area, anticipating a retracement of today's gains and a continuation of the primary downtrend towards more established support levels.
Bias: Bearish for a pullback below 2.065. A break and hold above 2.080 would suggest the bullish momentum may extend further.
Disclaimer:My plan. Not advice. Trade your own risk.
