ONT about to tip

4 ก.พ. 2022

ONT is today's low-hanging fruit, +14% in 4 hours by every logic it's overheating and must retrace, even a little bit.
Disregard the ascending channel, it's for dramatic flare.

I'd like to see a decisive rejection of S/R 4 hour channel (~0.5690), then I'll consider a short, with a generous stoploss.

Target #1 = 0.5295
Target #2 = 0.5158
Target #3 = 0.5072 to 0.5051

Keep in mind that today ONT went parabolic, making it a 10/10 on the dangerous trade scale.

This is my Thesis, targets are purely hypothetical based on my analysis.
This is NOT Investment and/or Trading Advice.
Happy Trades!

❤️ If you enjoy my ideas, Please like/comment, it means a lot, Thank You! ❤️

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