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$MEW pumping 5.6% with 9.0x abnormal volume
- With this kind of pump and volume, thereβs a high probability of a short-term retracement or pullback as the market digests the move and late buyers take losses. I do NOT expect this parabolic move to sustain immediately without some form of correction.
- Look for a potential long opportunity only if price pulls back to the 0.0003744 or 0.0003575 zones, shows clear reversal signals, and reclaims those levels on strong volume. If confirmation appears, a long entry could be considered with a first target at the recent high around 0.0004179, and a second target at 0.0004400. Stop-loss should be set at a swing low or just below the demand zone entered.
- If the price fails to hold 0.0003575 on any pullback and closes below, the move is more likely to unravel lower, and I would avoid longs altogether until further accumulation signs appear at lower levels.
- If you see a reversal pattern (like an engulfing or a strong pin bar) at one of the demand/FVG levels and price starts making higher lows on lower timeframes, this would be the best confirmation for a possible continuation.
- Remember, after such a dramatic move, patience is key. Never enter on a green candle at the top of a vertical spike; wait for the market to show its hand!
π This is not investment advice, only an educational report. Always wait for confirmation before entering, especially after high-velocity moves and volume anomalies. Stay safe and smart! π
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