$CLANKER - SHORT Setup
Entry: 31.00 – 31.80 (On a rejection after retesting the breakdown level/resistance zone)
Target 1:29.00
Target 2:28.00
Stop Loss:32.50 (Above the key swing high)
My View:
CLANKER is in a strong and established downtrend,down over 48% in 30 days. The price has broken down sharply and is now in a weak consolidation bounce. This bounce is approaching a major resistance zone between $31.00 and $31.80, which aligns with previous support levels and the recent breakdown point. The chart shows a clear series of lower highs, and the momentum remains decisively bearish. The order book indicates more selling pressure than buying above the current price. The high-probability strategy is to short into this relief rally, anticipating a continuation of the primary downtrend towards the recent lows. Wait for a clear rejection candle for confirmation.
Bias: Bearish below $31.80. A break and hold above $32.50 would be needed to reconsider.
Disclaimer:My plan. Not advice. Trade your own risk.
