FOLKSUSDT.P: short setup from daily support at 10.758

6 days ago

FOLKSUSDT.P has a local level based on the low of a paranormal bar. The extremes of such bars serve as valid levels when confirmed. In this case, the level has been clearly confirmed by a recent touch followed by consolidation above it. If the asset shows low volatility on the 4H or 1H timeframes and closes near the lows, a short position can be considered with a target of approximately 4-to-1. Since the setup is local, the expected move will likely be local as well.

Key factors for this scenario:

• Price void / low liquidity zone beyond level
  
• Volatility contraction on approach
  
• Immediate retest
  
• Repeated precise tests of the level
  
• Consolidation with price compression
  
• Closing near the level
  
• Closing near the bar's extreme
  

Factors that contradict this scenario:

• Aggressive high-volatility approach
  
• Lack of consolidation
  

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4 days ago

Order cancelled

Approached from a distance on high volatility. Should not be traded.