【$PLAY Signal】Pullback to go long / Momentum continuation

$PLAY After a sharp rise on the 1H timeframe, a pullback occurs, with buy orders clearly stacking around 0.0624. The 4-hour MACD remains in a bullish crossover structure without being broken, but the 1-hour histogram is contracting, indicating a healthy short-term pullback is needed to digest the floating positions. Currently, the price is far from the 1-hour moving average, and chasing the high directly offers a poor risk-reward ratio.

🎯Direction: Long (buy on pullback)

⚡Entry/Order: Layered entries in the 0.0563 - 0.0577 range

🛑Stop loss: 0.0512

🚀Target 1: 0.0838

🚀Target 2: 0.0968

🛡️Trade management:
- Execution strategy: After the order is filled, when the price reaches the first target, reduce half of the position, and move the stop loss of the remaining position up to the entry price. If the price cannot hold above 0.0625 and falls back again, consider exiting early.

Order book data shows dense sell orders above 0.0626, forming short-term resistance. However, open interest remains stable, with no signs of large-scale capital outflow. The 1-hour RSI has fallen from a high level to 66, providing room for another upward move. The core of this trade is to utilize the technical pullback after market sentiment releases, with a risk-reward ratio exceeding 4:1, making it worthwhile to use a small position to bet on trend continuation.

View real-time market 👇 $PLAY
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