$DEGO Rally showing signs of exhaustion as momentum starts to cool
Trading Plan Short $DEGO (max 10x)
Entry: 1.04 – 1.08
SL: 1.20
TP1: 0.95
TP2: 0.88
TP3: 0.80
The recent rally pushed price higher quickly, but the momentum behind the move is beginning to fade. Buyers were able to drive the expansion earlier in the move, however the follow through is no longer as strong and the structure is starting to become more uneven.
Instead of a clean continuation higher, price is now grinding upward with less strength. When rallies start behaving this way it often signals that buying pressure is weakening.
Sellers may begin stepping back in around this region, which could open the door for a corrective pullback once the upside momentum fully cools.
$DEGO
Trading Plan Short $DEGO (max 10x)
Entry: 1.04 – 1.08
SL: 1.20
TP1: 0.95
TP2: 0.88
TP3: 0.80
The recent rally pushed price higher quickly, but the momentum behind the move is beginning to fade. Buyers were able to drive the expansion earlier in the move, however the follow through is no longer as strong and the structure is starting to become more uneven.
Instead of a clean continuation higher, price is now grinding upward with less strength. When rallies start behaving this way it often signals that buying pressure is weakening.
Sellers may begin stepping back in around this region, which could open the door for a corrective pullback once the upside momentum fully cools.
$DEGO