$NEAR LOOKS READY FOR A DEEPER PULLBACK 👀
I’m looking for a short here.
Entry: $5.2 - $5.4
TP1: $4.46
TP2: $3.923
TP3: $3.368
SL: $5.7265
After an explosive nearly 250% rally, $NEAR is finally showing signs of exhaustion.
The market structure has shifted bearish after price broke below its previous uptrend. More importantly, the retest is showing weakness, with buyers failing to reclaim the newly formed resistance.
That’s exactly what I want to see before taking a short.
The risk-to-reward is also attractive. After such a massive expansion, a deeper correction wouldn’t surprise me, especially if this resistance continues to hold.
This is one of the $NEAR setups I’m watching most closely right now.
Trade the levels. Manage your risk. NFA.
I’m looking for a short here.
Entry: $5.2 - $5.4
TP1: $4.46
TP2: $3.923
TP3: $3.368
SL: $5.7265
After an explosive nearly 250% rally, $NEAR is finally showing signs of exhaustion.
The market structure has shifted bearish after price broke below its previous uptrend. More importantly, the retest is showing weakness, with buyers failing to reclaim the newly formed resistance.
That’s exactly what I want to see before taking a short.
The risk-to-reward is also attractive. After such a massive expansion, a deeper correction wouldn’t surprise me, especially if this resistance continues to hold.
This is one of the $NEAR setups I’m watching most closely right now.
Trade the levels. Manage your risk. NFA.
