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LINK is set at 8.33—does this short need a frontrun?
$LINK /USDT - SHORT to go short
Trading plan:
Entry: 8.32 – 8.34
SL: 8.44
TP1: 8.25
TP2: 8.20
TP3: 8.12
Why watch this structure?
- On the 4-hour timeframe, bias is bearish. The 15-minute RSI has fallen to 43.95, and momentum is weak.
- The 1D trend is ranging. The key range for entry is 8.32-8.34, with TP2 at 8.20 and stop-loss at 8.44.
- Why now? The bearish signal has just been activated. Pressure is around 8.33; if it breaks below 8.32, downside space opens up.
Discussion:
Do you think LINK will hit TP2 at 8.20 first, or bounce back to lure longs?