Major Levels – Is Sonic Ready to Pump?

3 Mar

After reaching the daily resistance level ($0.7818), price faced strong rejection. The anchored VWAP, acting as dynamic resistance just below the daily level, provided additional confluence for a low-risk short opportunity.

Additionally, a key high at $0.7891 further reinforced this resistance zone. Following the rejection, price sharply declined -13%, retracing back into the previous trading range.

Support Confluence

Price is now approaching a well-defined support zone:

• Bullish Order Block: $0.6816
  
• Key Level Near Order Block: $0.6803
  
• Golden Pocket (Fib 0.618 - 0.65): 0.618 at $0.6793 & 0.65 at $0.6739
  
• Monthly Open: $0.6732
  
• Point of Control (POC): $0.6732 (aligning with Monthly Open)
  
• Daily 21 EMA/SMA: 21 EMA at $0.6835 & 21 SMA at $0.6790
  
• Fib Speed Fan 0.7 (from $0.615 to $0.7818): Providing additional support in this zone
  

Long Trade Setup

• Entry Zone: $0.6816 – $0.6732
  
• Stop Loss: Below the Monthly Open ($0.6732)
  
• Take Profit Zone: $0.7111 – $0.7201
  
• Risk-to-Reward (R:R): 3:1 R:R setup, offering a high-probability trade
  

Take Profit Targets & Resistance Zones

• Previous Swing Low: $0.7111 (untested)
  
• Value Area Low (VAL): $0.7152
  
• Anchored VWAP (from $0.615 low): $0.7137
  
• Fib Retracement 0.382 (from $0.7818 high to current low): $0.7201
  

3 Mar

İşlem kapandı: durdurma seviyesi

Stopped out. Next long opportunity from the 0.786 fib retracement at $0.6512.