đ $NMR Trading Setup
NMR is showing aggressive momentum, trading around $13.79, up roughly 37.7% in 24H, with reported futures volume near $90.5M. The move is strong, but RSI is already around 85 on the 1H and 84 on the daily, which tells me chasing the move here carries elevated risk.
Trade Idea
â ïž Direction: Short â only after rejection confirmation
Entry: $14.00â$14.30
Stop Loss: $14.60
Targets:
đŻ TP1: $13.20
đŻ TP2: $12.70
Why I'm Watching This Setup
âą NMR has made a very sharp breakout with unusually high volume.
âą The $14.30â$14.40 area is close to the latest reported intraday high and could act as resistance.
âą RSI is heavily overbought across multiple timeframes, so a pullback is possible, although overbought alone does not confirm a reversal.
âą I would wait for an actual rejection and weakening volume before considering the short. No confirmation means no trade.
Risk management matters here because NMR is moving extremely fast. I would keep position size small and avoid entering in the middle of a volatile candle. If price breaks and holds above resistance with strong volume, the short idea is invalidated.
What do you think?
Would you take this setup, or wait for confirmation?
$NMR #NMR #CryptoTrading #altcoins #BÄ°NANCE #OpenAIDelaysGPT6.1OverSafetyIssues
NMR is showing aggressive momentum, trading around $13.79, up roughly 37.7% in 24H, with reported futures volume near $90.5M. The move is strong, but RSI is already around 85 on the 1H and 84 on the daily, which tells me chasing the move here carries elevated risk.
Trade Idea
â ïž Direction: Short â only after rejection confirmation
Entry: $14.00â$14.30
Stop Loss: $14.60
Targets:
đŻ TP1: $13.20
đŻ TP2: $12.70
Why I'm Watching This Setup
âą NMR has made a very sharp breakout with unusually high volume.
âą The $14.30â$14.40 area is close to the latest reported intraday high and could act as resistance.
âą RSI is heavily overbought across multiple timeframes, so a pullback is possible, although overbought alone does not confirm a reversal.
âą I would wait for an actual rejection and weakening volume before considering the short. No confirmation means no trade.
Risk management matters here because NMR is moving extremely fast. I would keep position size small and avoid entering in the middle of a volatile candle. If price breaks and holds above resistance with strong volume, the short idea is invalidated.
What do you think?
Would you take this setup, or wait for confirmation?
$NMR #NMR #CryptoTrading #altcoins #BÄ°NANCE #OpenAIDelaysGPT6.1OverSafetyIssues
