$VELVET Parabolic Rally Near Exhaustion?
I am repeating it once again ... after such a massive vertical rally, risk is increasing sharply and profit-taking pressure can appear at any time.
The move from below $0.40 to above $2.10 happened in a very short period, which often leads to aggressive pullbacks before the next trend develops.
Short Trade Idea (High Risk):
Entry Zone: $2.05 - $2.20
Stop Loss: $2.45
Target 1: $1.85
Target 2: $1.55
Final Target: $1.20
A move below $1.85 would strengthen the bearish case, while a breakout above recent highs could invalidate the setup and trigger another wave higher.
Trade carefully and manage risk appropriately, especially when trading highly volatile parabolic moves.
$VELVET
I am repeating it once again ... after such a massive vertical rally, risk is increasing sharply and profit-taking pressure can appear at any time.
The move from below $0.40 to above $2.10 happened in a very short period, which often leads to aggressive pullbacks before the next trend develops.
Short Trade Idea (High Risk):
Entry Zone: $2.05 - $2.20
Stop Loss: $2.45
Target 1: $1.85
Target 2: $1.55
Final Target: $1.20
A move below $1.85 would strengthen the bearish case, while a breakout above recent highs could invalidate the setup and trigger another wave higher.
Trade carefully and manage risk appropriately, especially when trading highly volatile parabolic moves.
$VELVET