$NMR
BIG SHORT the vertical push to 15.500 was fully rejected, and the latest 4h candle is a red one that gave back a chunk of the move. Momentum is fading with RSI stretched above 74 and volume already dropping off the peak
trade $NMR here: 👇
Why the setup makes sense (from your chart):**
- Price is up about 30% in 24h, with a long upper wick from 15.500 showing sellers stepped in hard
- RSI(6) and RSI(14) are both above 74 and have turned down from their peaks
- The 4h volume bar fell sharply after the blowoff candle
- The SL at 14.45 sits above the rejection zone, so a break there invalidates the idea
- TP1 to TP3 line up with the prior consolidation area around 11.77 to 12.9 where the breakout candles started
●● Risk notes:
Parabolic moves can squeeze further before reversing, and MACD is still rising. Consider sizing small, using moderate leverage, and moving the stop to breakeven after TP1. Confirmation on a 4h close below 13.10 would make the entry cleaner. This is not financial advice.
BIG SHORT the vertical push to 15.500 was fully rejected, and the latest 4h candle is a red one that gave back a chunk of the move. Momentum is fading with RSI stretched above 74 and volume already dropping off the peak
trade $NMR here: 👇
Why the setup makes sense (from your chart):**
- Price is up about 30% in 24h, with a long upper wick from 15.500 showing sellers stepped in hard
- RSI(6) and RSI(14) are both above 74 and have turned down from their peaks
- The 4h volume bar fell sharply after the blowoff candle
- The SL at 14.45 sits above the rejection zone, so a break there invalidates the idea
- TP1 to TP3 line up with the prior consolidation area around 11.77 to 12.9 where the breakout candles started
●● Risk notes:
Parabolic moves can squeeze further before reversing, and MACD is still rising. Consider sizing small, using moderate leverage, and moving the stop to breakeven after TP1. Confirmation on a 4h close below 13.10 would make the entry cleaner. This is not financial advice.
