🚨$INTC Is it nearing the top? 📉
📈 The price keeps climbing in a parabolic move and has reached $97.23 (+14.08%). We're significantly extended from the major moving averages, which increases the likelihood of a technical correction.
📉 Short Strategy:
We're keeping an eye out. We might be facing an excellent short entry opportunity under two scenarios:
Entry Now: Taking advantage of the test around $97 to catch the beginning of the pullback towards the EMA7 (~$89.76).
$100.00 Zone: If the momentum continues, the psychological level of $100 will be the key resistance zone where strong selling pressure is likely to kick in.
Risk Management:
🛡️ Stop Loss: We'll set it now at $99.10 (if you enter now) to protect against a "fakeout" before hitting $100.
If you wait for $100, the SL should be at $102.50.
🎯 Take Profit: Primary target at $89.80 and secondary target in the $80.00 zone.
⚠️: The sentiment is strongly bullish. Don't try to guess the exact top without strict risk management. Trading against the trend requires discipline!
📈 The price keeps climbing in a parabolic move and has reached $97.23 (+14.08%). We're significantly extended from the major moving averages, which increases the likelihood of a technical correction.
📉 Short Strategy:
We're keeping an eye out. We might be facing an excellent short entry opportunity under two scenarios:
Entry Now: Taking advantage of the test around $97 to catch the beginning of the pullback towards the EMA7 (~$89.76).
$100.00 Zone: If the momentum continues, the psychological level of $100 will be the key resistance zone where strong selling pressure is likely to kick in.
Risk Management:
🛡️ Stop Loss: We'll set it now at $99.10 (if you enter now) to protect against a "fakeout" before hitting $100.
If you wait for $100, the SL should be at $102.50.
🎯 Take Profit: Primary target at $89.80 and secondary target in the $80.00 zone.
⚠️: The sentiment is strongly bullish. Don't try to guess the exact top without strict risk management. Trading against the trend requires discipline!