Mock Up Price Action for PEOPLE | Near Term (30MIN)Mock Up Price Action for BINANCE: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.