$LIT Short position: price is testing resistance at 3.52 on the 4-hour chart.
Rejection from 3.52 → 3.44, then 3.40.
A move back above 3.59 → the scenario is invalidated.
I want to see sellers putting pressure on this level, not price slowly moving through it.
Why this level:
- Price on the 4-hour chart is 3.51, below the EMA50 at 3.90; the trend structure still favors sellers
- Risk to SL is 2.1% versus 3.3% to TP3; about 1.6R if the move plays out fully
- RSI on the 1-hour chart is 24; the market is already oversold: this isn't a drop to chase
🔴 SHORT · Entry 3.508–3.520 · TP 3.470 / 3.441 / 3.397 · SL 3.588
Rejection from 3.52 → 3.44, then 3.40.
A move back above 3.59 → the scenario is invalidated.
I want to see sellers putting pressure on this level, not price slowly moving through it.
Why this level:
- Price on the 4-hour chart is 3.51, below the EMA50 at 3.90; the trend structure still favors sellers
- Risk to SL is 2.1% versus 3.3% to TP3; about 1.6R if the move plays out fully
- RSI on the 1-hour chart is 24; the market is already oversold: this isn't a drop to chase
🔴 SHORT · Entry 3.508–3.520 · TP 3.470 / 3.441 / 3.397 · SL 3.588