UBUSDT: short setup from daily support at 0.035820

7 days ago

UBUSDT.P looks very attractive for a short setup.
There is a clear support level whose strength is not in doubt, as it has been confirmed multiple times.
Today, the asset showed a strong move up, but it ended with an even stronger drop that completely engulfed the prior rally.

Key factors for this scenario

• Price void / low liquidity zone beyond level
  
• Liquidity grab (false move against the trend)
  
• Volatility contraction on approach
  
• Immediate retest
  
• Closing near the bar's extreme
  
• Closing near the level
  

7 days ago

Note

We've had another test of the level since the idea was published.
This has reinforced its significance once again.
If the price doesn't move away from the level within the next few hours, it will be a good signal for a breakout.

6 days ago

Trade closed: target reached

Here, there was also a good entry point after a clean test of the level I wrote about above.
A minimum 5-to-1 risk/reward ratio was achieved.