$SOPH
Simple Short Setup
Entry Zone:
0.0147 – 0.0149(EMA)
Stop Loss:
0.0155 (safe)- 0.0163 (invalidation of setup)
Take Profit:
TP 1: 0.0140
TP 2: 0.012850
Final Target: 0.011200
MARKET OVERVIEW
The market has broken the previous bullish trend structure, marked by a lower high that failed to break resistance, although the break of that structure has not gone too far. This condition indicates the beginning of a trend shift (early trend shift), making it still possible for a small retrace to occur before the price continues to decline.
The EMA has returned to order after previously being unclear in its position. Currently, the EMA is above the price, confirming a bearish bias. We consider the EMA area as an entry option when the price retraces, not as a reversal signal.
Volume looks relatively low, possibly because it is outside the American session, so price movements tend to be technical and follow the structure.
From the momentum side:
MACD slightly below level 0 → weak bullish pressure
RSI (6): 37 → still in the weak zone
StochRSI: 13 → supports the small retrace scenario before continuing down
As long as the price remains below EMA 20 & EMA 50, the bias remains bearish.
If the price breaks and closes strongly above 0.0163, then the short scenario is considered invalid and it's better to skip the setup.
As always, no one knows the market, risks remain and are each individual's responsibility. $SOPH
