$BANK - SHORT Setup
Entry: 0.0552 – 0.0556 (On rejection from this supply zone)
Target 1:0.0540
Target 2:0.0532
Stop Loss:0.0560 (Above the 24h high)
My View:
BANK has experienced a significant pump over the past week(+46.62%) but is now showing signs of exhaustion and distribution near the top of its range, approaching the 24h high (0.05724). The order book shows a dominant Ask volume (55.86%), indicating heavy selling pressure is stacked just above the current price as early buyers take profits. Such strong rallies are typically followed by pullbacks as momentum fades and profit-taking occurs. The plan is to enter a short position on a confirmed rejection from the defined resistance area, targeting a retracement of recent gains towards the middle of the day's range and more established support levels.
Bias: Bearish for a pullback below 0.0556. A break and hold above 0.0560 would signal a resumption of the bullish momentum.
Disclaimer:My plan. Not advice. Trade your own risk.
