$NIL lost some momentum and pulled back, but dip buyers have stepped in faster than sellers could press it. Not the heavy dump some were expecting.
Charts are looking stretched, no doubt. But like I shared in my last update, with the Dusk launch still ahead of us in the first week of October, I expect $NIL to stay supported at least until that event lands.
We're seeing a similar dynamic with $VVV . It's been holding strong despite looking overextended, and a big part of that strength is likely tied to the Lumara Film Festival happening in NYC on October 26.
My point here is: an overextended move isn't automatically a short setup, not when the catalyst that started it hasn't even played out yet
For setups like this, I think the edge is in finding the catalyst early, before the market fully reacts to it. That can mean getting in early on spot or positioning for the move while the catalyst is still ahead.
The question is, how many of these moves are you noticing before the catalyst happens, rather than after the price has already moved?
Charts are looking stretched, no doubt. But like I shared in my last update, with the Dusk launch still ahead of us in the first week of October, I expect $NIL to stay supported at least until that event lands.
We're seeing a similar dynamic with $VVV . It's been holding strong despite looking overextended, and a big part of that strength is likely tied to the Lumara Film Festival happening in NYC on October 26.
My point here is: an overextended move isn't automatically a short setup, not when the catalyst that started it hasn't even played out yet
For setups like this, I think the edge is in finding the catalyst early, before the market fully reacts to it. That can mean getting in early on spot or positioning for the move while the catalyst is still ahead.
The question is, how many of these moves are you noticing before the catalyst happens, rather than after the price has already moved?
