CFG is poised for a downturn, with a bearish bias taking hold. Current price action is painting a picture of potential reversal.
โโโโโโโโโโโโโโโโโโโโโ
๐ด CFG SHORT ๐
โโโโโโโโโโโโโโโโโโโโโ
๐ Entry Range: $0.272128 โ $0.272672
๐ Stop Loss: $0.280572 (-3.0%)
๐ฏ TP1: $0.268314 (+1.5%)
๐ TP2: $0.258780 (+5.0%)
โก R/R Ratio: 1:1.7
๐ Confidence: 88%
โโโโโโโโโโโโโโโโโโโโโ
This setup is triggered by a combination of key signals, including a CHoCH market structure break, CVD confirming direction with volume, a clear FVG, and an OB that's seeing confluence with the FVG. The POI overlap of OB and FVG adds significant weight to this short setup, suggesting a high probability of a downward move.
A 3.0% stop loss seems relatively tight but manageable, suggesting a leverage of around 5x to maximize potential returns while keeping risk in check.
Considering taking partial profits at TP1 to lock in some gains, as the first target represents a significant psychological level that could act as a magnet for price.
Not financial advice โ always manage your own risk ๐
#CFGUSDT $CFG #SMC #Write2Earn #Binance