Pudgy Penguins (PENGU/USDT) Short Setup
Pudgy Penguins (PENGU/USDT) has completed a clear impulsive five-wave move.
After the sharp extension in wave (5), price action is now showing signs of exhaustion.
🔻 Correction Expectation
The fifth wave looks complete, leaving room for a downward retracement.
Key level to monitor: 0.0279 support zone.
This area is the first likely target for the corrective wave.
💡 Short Strategy
A short position can be considered once bearish confirmation appears.
Look for signals such as an engulfing red candle, loss of momentum, or rejection from the highs.
Entry: near current highs after confirmation.
Target: 0.0279 support.
Stop-loss: just above the recent peak to manage risk.
⚡ Alternative View
If momentum unexpectedly continues, there could be a small extension above wave (5). However, probability favors a pullback rather than further upside.
✅ Conclusion
PENGU/USDT is in a prime short setup following a completed five-wave impulse.
Traders should closely watch for bearish signals to time entries.
The 0.0279 support remains the key target for the correction.
After the sharp extension in wave (5), price action is now showing signs of exhaustion.
🔻 Correction Expectation
The fifth wave looks complete, leaving room for a downward retracement.
Key level to monitor: 0.0279 support zone.
This area is the first likely target for the corrective wave.
💡 Short Strategy
A short position can be considered once bearish confirmation appears.
Look for signals such as an engulfing red candle, loss of momentum, or rejection from the highs.
Entry: near current highs after confirmation.
Target: 0.0279 support.
Stop-loss: just above the recent peak to manage risk.
⚡ Alternative View
If momentum unexpectedly continues, there could be a small extension above wave (5). However, probability favors a pullback rather than further upside.
✅ Conclusion
PENGU/USDT is in a prime short setup following a completed five-wave impulse.
Traders should closely watch for bearish signals to time entries.
The 0.0279 support remains the key target for the correction.
Dagangan ditutup: sasaran tercapai
💼 Professional market insights & charts:
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Penafian
Maklumat dan penerbitan adalah tidak dimaksudkan untuk menjadi, dan tidak membentuk, nasihat untuk kewangan, pelaburan, perdagangan dan jenis-jenis lain atau cadangan yang dibekalkan atau disahkan oleh TradingView. Baca dengan lebih lanjut di Terma Penggunaan.
💼 Professional market insights & charts:
cakirinsights.com/
cakirinsights.com/
Penafian
Maklumat dan penerbitan adalah tidak dimaksudkan untuk menjadi, dan tidak membentuk, nasihat untuk kewangan, pelaburan, perdagangan dan jenis-jenis lain atau cadangan yang dibekalkan atau disahkan oleh TradingView. Baca dengan lebih lanjut di Terma Penggunaan.