#Gate13thAnniversary

My reason for a short entry at 0.0672*
Rejection at MA10 + Breakdown of Structure* Price briefly bounced to 0.0672 but was immediately rejected at MA10 (green line) at 0.0566. MA10 crossing down MA30 (0.0599). Death cross on the 4H TF = strong downward momentum. The 0.0672 level becomes a new resistance after breaking down from 0.0700. That was previous support that broke, now turned into a wall. My entry was at retest. Volume dried up during the rise, large during the fall*
24-hour volume is 108.16B PNUT but note: green candle bounce with small volume, red candle drop with large volume. This indicates aggressive sellers, buyers are only passive. No demand. Risk-to-Reward Entry is good*
My stop loss is placed above the swing high at 0.0894, risk ~33%. First take profit at 0.0516 support, second at 0.0433 bottom. Minimum RR is 1:1, if held until 0.0433 it can be 1:2.5.$PNUT ‌ ‌