Big whales holding long positions on $MU are preparing to secure their massive profits and trap retail buyers at the top.
I am looking at the current market data for $MU and noticed a clear setup for a reversal trade. The big players are holding over 40 million dollars in long positions, and they entered much lower around the 798 zone. They are now sitting on over 7 million dollars in profit while the price is pushing up near 980. Retail traders are jumping in late right now, thinking the price will simply keep going up without a break. However, smart money does not hold these positions forever; they will soon start selling to close their trades and take that massive profit off the table.
When these heavy long whales start selling to exit, it will create strong downward pressure and push the price lower to collect the liquidity left by the trapped short sellers around the 914 level. My trade plan is to wait for one final push higher into a premium zone to enter a short position. I want to trade this reversal as the big players exit the market, keeping my risk tightly managed while aiming for the liquidity resting below.
Trade Plan
Entry: 985.00
Stop Loss: 1000.00
Take Profit 1: 970.00
Take Profit 2: 955.00