We caught a small scalp on $SQD earlier today, but bulls are once again regaining control and attempting to fully fill the daily wick.
I don’t like longing at these levels, as sharp pullbacks are likely. The plan is to look for another short setup.
If we get a clean breakout at daily highs:
Short Entry: 0.075–0.077
Stop Loss: 0.081
Target 1: 0.072
Target 2: 0.069
Target 3: 0.066
Target 4: 0.062
Bears may step in slightly earlier, so watch price action closely and don’t miss the opportunity.
Note: If we get a clean rejection at daily highs we can jump in to short with volume confirmations
