STX has been quietly range bound for nearly four years, but the recent price action demands attention. While most alts printed fresh lows during the October 10th liquidation flush, STX held firm its wick didn’t breach the Selling Climax (SC), and volume surged. This Last Point of Support (LPS) signals strong demand and potential smart money presence (weekly timeframe).
Trade Scenarios
Option 1: Immediate Entry
Entry: Current price
Stop Loss: Just below the LPS
Targets:
TP1: Yearly pivot + major 50% level
TP2: If price breaks the range high, a projected range extension gives a minimal target of ~$42
These targets may seem ambitious, but they’re derived directly from the chart structure, no hopium, just data.
Option 2: Pullback Entry
Entry: Wait for a pullback near the EQ of the large wick
Stop Loss: Based on daily TF structure
Targets: Same as Option 1
Trade Scenarios
Option 1: Immediate Entry
Entry: Current price
Stop Loss: Just below the LPS
Targets:
TP1: Yearly pivot + major 50% level
TP2: If price breaks the range high, a projected range extension gives a minimal target of ~$42
These targets may seem ambitious, but they’re derived directly from the chart structure, no hopium, just data.
Option 2: Pullback Entry
Entry: Wait for a pullback near the EQ of the large wick
Stop Loss: Based on daily TF structure
Targets: Same as Option 1
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.