Mock Up Price Action for PEOPLE | Near Term (30MIN)
Mock Up Price Action for
PEOPLEUSDT
| Near Term (30MIN)
- Watching and waiting for THE opportunity to enter short
- This looks and feels like a MEXC:1000PEPE2USDT.P moment with double peaks one after another, just on a much quicker timeframe!
Personal Approach & Base Chart Setup
- Stacked Parallel Channels for Grid of Confluence Points
- High Time Frame (HTF) Fib Extensions, Retracements, & Time Cycles
- Red Filled Horizontal Rectangles between areas of major Fib level from Extensions and Retracements
- Price Label Callout with Red Circle highlighting points of interest where I'd consider making a trade
- I will consistently monitor and adjust taking into consideration long/mid/near term price action and market conditions/news
Additional Remarks
Entered into a short early without doing my typical level of research. Upon closer inspection, I closed at a 15 percent loss, as the alternative if I'm right about this, would be losing all of the funds within this isolated margin futures position. Adjusted my entry point.
PEOPLEUSDT
| Near Term (30MIN) - Watching and waiting for THE opportunity to enter short
- This looks and feels like a MEXC:1000PEPE2USDT.P moment with double peaks one after another, just on a much quicker timeframe!
Personal Approach & Base Chart Setup
- Stacked Parallel Channels for Grid of Confluence Points
- High Time Frame (HTF) Fib Extensions, Retracements, & Time Cycles
- Red Filled Horizontal Rectangles between areas of major Fib level from Extensions and Retracements
- Price Label Callout with Red Circle highlighting points of interest where I'd consider making a trade
- I will consistently monitor and adjust taking into consideration long/mid/near term price action and market conditions/news
Additional Remarks
Entered into a short early without doing my typical level of research. Upon closer inspection, I closed at a 15 percent loss, as the alternative if I'm right about this, would be losing all of the funds within this isolated margin futures position. Adjusted my entry point.
Comment:
Comment:
Chart a bit, 'busy', but... I can easily see this happening. Pump fake down 20% to lure in the shorts. Convincing 'dump', before stopping around 0.034, turning around, slowly climbing and then picking up speed. Enough speed upwards to begin to hit stop loss points and also trigger liquidation prices, that then escalates quickly up and up and up.
