$PROM bounced from 5.010 to 5.703 (+10.46% over the day) after falling from 6.262. A sharp V—almost like $ETH today, but with a stronger swing.
I looked at the order flow: today they’re buying in all categories; the main driver is large orders (+69.8K PROM net inflow). But over 5 days in total, the large orders are still down at -98.7K—meaning today’s bounce hasn’t even come close to buying back what was sold off during the drop. This is the first day of the flow reversal, not confirmation of the trend.
I’m checking against my three entry conditions:
— Price above MA7 and MA25 ✅
— RSI has exited oversold, now at 66 ✅
— Supertrend flipped to green ❌ — still at 5.961, above the current price
2 out of 3 are met, but the strictest condition hasn’t been met yet. Exactly in moments like this, when the rise already looks convincing to the eye, it’s easy to mistake “almost reversed” for “fully reversed”—I’ve made that mistake on this ticker already.
I’m waiting for consolidation above 5.961, not earlier.
Anyone else had something similar on PROM—took it on this bounce, or are you also waiting for trend confirmation?
I looked at the order flow: today they’re buying in all categories; the main driver is large orders (+69.8K PROM net inflow). But over 5 days in total, the large orders are still down at -98.7K—meaning today’s bounce hasn’t even come close to buying back what was sold off during the drop. This is the first day of the flow reversal, not confirmation of the trend.
I’m checking against my three entry conditions:
— Price above MA7 and MA25 ✅
— RSI has exited oversold, now at 66 ✅
— Supertrend flipped to green ❌ — still at 5.961, above the current price
2 out of 3 are met, but the strictest condition hasn’t been met yet. Exactly in moments like this, when the rise already looks convincing to the eye, it’s easy to mistake “almost reversed” for “fully reversed”—I’ve made that mistake on this ticker already.
I’m waiting for consolidation above 5.961, not earlier.
Anyone else had something similar on PROM—took it on this bounce, or are you also waiting for trend confirmation?