$RIVER – Parabolic move into resistance, high probability of short-term correction.
Short $RIVER Entry: 21.10 – 21.50 SL: 22.30 TP1: 20.20 TP2: 19.20 TP3: 18.10 Price made an aggressive expansion from the 16.80 demand zone and quickly reached the 21.30–21.40 resistance area. This move is very extended with consecutive bullish candles, which usually attracts profit-taking and short-term liquidity sweeps. After such a vertical pump, markets often retrace toward previous support levels before deciding the next trend direction. If price fails to break and hold above 21.50, a pullback toward 20.20 and 19.20 liquidity zones becomes highly probable.
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$RIVER – Parabolic move into resistance, high probability of short-term correction.
Short $RIVER
Entry: 21.10 – 21.50
SL: 22.30
TP1: 20.20
TP2: 19.20
TP3: 18.10
Price made an aggressive expansion from the 16.80 demand zone and quickly reached the 21.30–21.40 resistance area. This move is very extended with consecutive bullish candles, which usually attracts profit-taking and short-term liquidity sweeps.
After such a vertical pump, markets often retrace toward previous support levels before deciding the next trend direction.
If price fails to break and hold above 21.50, a pullback toward 20.20 and 19.20 liquidity zones becomes highly probable.