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$CL /USDT At this position, do you dare to catch a falling knife?
$CL /USDT - Short SHORT
Trading Plan:
Entry: 69.14 – 69.28
SL: 69.93
TP1: 68.67
TP2: 68.31
TP3: 67.78
Why focus on this structure?
The 4-hour bearish structure remains unbroken, and the 15-minute RSI of 59.28 indicates limited short-term rebound strength.
Why now? Around 69.21 is the EMA resistance level, and above that is the invalidation level at 69.71, making shorting more cost-effective.
TP2 68.31, stop loss 69.93, risk-reward ratio close to 3:1.
Discussion:
Will this short position first target 68.31, or will it get stopped out at 69.71 before falling?