📉 $XPL | SHORT SETUP
🎯 Trading Plan:
Entry: 0.0933 0.0936
TP1: 0.0917 (+1.75%)
TP2: 0.0898 (+3.75%)
TP3: 0.0875 (+6.20%)
Stop Loss: 0.0958 (-2.65%)
📊 Technical Analysis:
On the 1H chart, price hit the Fibonacci resistance level at 0.618 after a strong 7-day rally, MACD histogram is narrowing, showing signs of slight bearish divergence. Volume profile indicates a thick node around 0.0935 that is obstructing further upward momentum.
On the 4H timeframe, the descending channel structure remains intact with lower highs, Stochastic has reached the 80 level and is starting to roll down, indicating that momentum is shifting to the downside.
🎯 Trading Plan:
Entry: 0.0933 0.0936
TP1: 0.0917 (+1.75%)
TP2: 0.0898 (+3.75%)
TP3: 0.0875 (+6.20%)
Stop Loss: 0.0958 (-2.65%)
📊 Technical Analysis:
On the 1H chart, price hit the Fibonacci resistance level at 0.618 after a strong 7-day rally, MACD histogram is narrowing, showing signs of slight bearish divergence. Volume profile indicates a thick node around 0.0935 that is obstructing further upward momentum.
On the 4H timeframe, the descending channel structure remains intact with lower highs, Stochastic has reached the 80 level and is starting to roll down, indicating that momentum is shifting to the downside.