$MERL Correction Loading..
$MERL just ran straight into a brick wall a thick Fair Value Gap (FVG) resistance that’s been waiting to get tagged. Price wicked above resistance, sucked in late longs… and then got slapped back down. Classic trap behavior.
Wick + instant rejection = smart money distribution
Volume fading at highs = buyers running out of ammo
Every push up is getting sold faster → sellers in control
This isn’t strength — it’s exhaustion.
Why the short makes sense:
Price tapped heavy FVG resistance
Failed to hold above value
Bearish rotation confirmed on LTF
Risk is tight, reward is asymmetric
🎯 Trade Plan (High-Conviction Pullback):
👉 Entry: 0.264 – 0.266
👉 Stop Loss: 0.271 (above rejection high — invalidates the idea)
🚀 TP1: 0.254 (first liquidity sweep)
🚀 TP2: 0.246 (deeper mean reversion + imbalance fill)
As always invalidation is king. A clean acceptance above 0.271 kills the setup. Until then, bias stays short📊
#merl #MarketRebound #WriteToEarnUpgrade