Momentum has done the easy part. Now the pullback matters.
$PROM printed a rapid 15 minute expansion from the 3.573 area into 4.662, backed by a pronounced increase in volume. Price remains well above MA(7) at 4.373, with MA(25) at 3.905 and MA(99) at 3.736 beneath it. The trend is strong, but entering at 4.54 after a 46.05% daily rise offers poor placement.
Setup: LONG on a controlled retest
Entry: 4.462
Stop loss: 4.373
Target: 4.662
Approximate risk: 1.99%
Potential reward: 4.48%
Reward to risk: 2.25R
Confirmation requires the 4.462 region to absorb the retracement and produce a bullish 15 minute reaction. A sustained move below 4.373 invalidates the setup because price would lose the displayed short term moving average after the vertical advance.
No confirmation at 4.462 means no entry. The objective is to trade support after momentum cools, not pay the premium at the top of the impulse.
$PROM printed a rapid 15 minute expansion from the 3.573 area into 4.662, backed by a pronounced increase in volume. Price remains well above MA(7) at 4.373, with MA(25) at 3.905 and MA(99) at 3.736 beneath it. The trend is strong, but entering at 4.54 after a 46.05% daily rise offers poor placement.
Setup: LONG on a controlled retest
Entry: 4.462
Stop loss: 4.373
Target: 4.662
Approximate risk: 1.99%
Potential reward: 4.48%
Reward to risk: 2.25R
Confirmation requires the 4.462 region to absorb the retracement and produce a bullish 15 minute reaction. A sustained move below 4.373 invalidates the setup because price would lose the displayed short term moving average after the vertical advance.
No confirmation at 4.462 means no entry. The objective is to trade support after momentum cools, not pay the premium at the top of the impulse.