$STO $STO 2h | Chart Analysis
- At the moment, bears are in control and the market is testing the lowest point of the most recent swing; a breakdown below 0.0441 is likely to trigger more downside to 0.0428
- However, if there’s a liquidity grab below 0.0441 and buyers step in with strength, a quick bounce to 0.0450 or 0.0460 is possible
- My favored setup:
- Wait for a sweep and sharp bounce above 0.0441 with clear bullish reversal signals (such as a pin bar or engulfing candle on the 15m/30m)
- Enter long only after confirmation, targeting 0.0450, then 0.0460, and possibly 0.0468
- Stop-loss should be placed just below the swing low after confirmation
- If price closes below 0.0441 and cannot reclaim it, expect a move to 0.0428—if this level fails, deeper downside opens up
- My bias changes to bullish only if price closes above 0.0450 and holds above the equilibrium at 0.04585 with strong momentum
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