Short LDO

Feb 22, 2023

From what I can see, a Wyckoff Distribution Schematic 1 can be applied for LDO's current price action (on 4H TF).

Now prices are retesting the range's high after a failed break-out.

In my opinion, retest would be rejected. In this case, a referenced setup is in chart.

Feb 22, 2023

Trade active

On 1H TF, a shooting star is found with good sell volume. It's a bearish sign

Feb 22, 2023

Note

Feb 23, 2023

Trade closed: stop reached

SL hit. This trade was closed.

Feb 23, 2023

Note

The trade was not successful. I think that the entry was prematurely set.
In 4H TF, LDO broke the trendline and was rejected after retesting it.
Moreover, we can see engulfing candles in the same 4H TF.